In 2012, SSS collections rose by 9.7%
By Ronnel W. Domingo
The Social Security System collected P94.2 billion in contributions for 2012—up 9.7 percent from the P85.9 billion reported the previous year.
The Social Security System collected P94.2 billion in contributions for 2012—up 9.7 percent from the P85.9 billion reported the previous year.
The Commission on Audit has called the attention of the Social Security System to the excessive amount of loans it extended as well as its significant delinquency rate.
A group of retirees has called on the Office of the Ombudsman to stop sitting on the complaints against former top officials of the Social Security System and start doing something to recover SSS members’ money.
The Social Security System filed lawsuits against 606 companies in the first half of the year, mostly for failing to remit contributions to the pension fund.
Net earnings of the Social Security System jumped 42 percent year on year to P18.7 billion in the first semester as the pension fund struggled to reduce operating expenses.
The campaign to encourage overseas Filipino workers and voluntary members to be more active members of the Social Security System helped boost collections by 9 percent year on year in the first semester, reaching P46.7 billion from P42.7 billion.
Halfway through a six-month amnesty program on loan penalties, the Social Security System has rung up a total of P748 million in collections from some 59,000 member-borrowers who have availed themselves of the relief.
If you’ve been following the airline industry long enough, you’d know that major orders from either Airbus or Boeing are usually announced during international aviation events like the ongoing Farnborough Air Show or the Paris Air Show, which are held on alternate years.
Some 1.6 million members of the Government Service Insurance System and the Social Security System can now tap a P11.2-billion fund to help finance their higher education.
The Social Security System’s neat earnings in 2011 jumped by 11.8 percent to P25.5 billion, from the P22.8 billion reported the previous year partly due to improved collection procedures.
The Social Security System has set aside P7 billion for lending to private businesses and social institutions, which is meant to help boost employment and boost economic growth.
The Bureau of Internal Revenue (BIR) has launched its Internet lounge project with an initial facility at the Pasig City Hall to encourage taxpayers to avail themselves of its services online with free access.
