The Philippines Social Security Service published Circular No. 2024-06 in December 2024, which includes that the social security contribution rate is increased to 15% with effect from 1 January 2025. The minimum and maximum monthly salary credits (MSC) are also increased to PHP 5,000 and PHP 35,000, respectively. The Circular also provides a contribution schedule based on the range of compensation of employees. Circular No. 2024-06 repeals Circular No. 2022-033, which set the contribution rate at 14% and the minimum and maximum MSC at PHP 4,000 and PHP 30,000, respectively, effective 1 January 2023.