WORKERS led by national labor center Kilusang Mayo Uno again stormed the Social Security System’s main office along East Avenue, Quezon City today to voice opposition to a plan to increase premium contributions, saying the latter would add to the burden borne by the country’s workers.
Last Labor Day, Pres. Noynoy Aquino called for an increase in premium contributions to the SSS, citing the agency’s P1.1 Trillion “unfunded liability” which, dialogues with SSS officials reveal, is merely a projection of such liability after 60 years.
SSS officials, however, said that the premium hike will be used to fund improvements in the benefits provided by the agency to its members, including an unemployment allowance, and will be implemented starting June or July this year.
To show their opposition to the proposal, the workers carried umbrellas bearing the sign “NO 2 HIKE” which they displayed in front of the agency’s logo.
“This premium hike will only increase the burden being borne by the country’s workers. Filipino workers are already suffering from low wages and soaring prices imposed by big capitalists and the Aquino government,” said Elmer “Bong” Labog, KMU chairperson.
“The truth is that SSS has enough funds to increase workers’ benefits without imposing a premium hike. Workers want their contribution to the SSS diligently remitted, and if they will have their way, there’s no reason why the SSS would go bankrupt,” he added.
“It would be revolting to see Aquino boast about increasing SSS benefits in his State of the Nation Address, because the increased benefits will come from workers’ pockets,” he said.
KMU said the proposed 0.6 per cent increase in premium contributions, from 10.4 per cent to 11 per cent, which will be divided equally between workers and employers will amount to an additional P33.25 monthly contribution for workers.
Data from the SSS reveal that the agency had P343.67 billion in assets in March 2012 and that returns on the agency’s investments reached more than P20 billion both in 2011 and 2012.
“We see only one reason why the Aquino government and the SSS administration want a premium hike. They want to increase the funds that are available to big capitalists under Aquino’s Public-Private Partnership program,” Labog said.
“This is a global trend: bailout for big capitalists, austerity for workers and the poor in general. We will not allow our hard-earned savings to be jeopardized in order to ensure profits for big capitalists,” he added.
The labor leader vowed to hold a bigger protest against the proposed premium hike on July 8, saying KMU won’t stop holding protests until the scheme is junked.
The post Workers storm SSS, oppose premium hike appeared first on Remate.