TIM eMagazine Vol.3 Issue 1
SSS breaches
2017 target revenue,
posts P26-B increase
S
tate-run Social Security System (SSS) on Monday said
it breached its 2017 target revenue, with P200.5 billion
in total earnings from members’ contributions and
investment and other income last year.
SSS’ unaudited financial performance showed that
its total revenues for the period January to December
2017 increased by P26.04 billion from P174.46 billion
in 2016, and were 5.6 percent higher than the P189.79-
billion target.
“We achieved good numbers in 2017 on the back of our intensified
campaign to increase our collections. We are pleased that the efforts of
the SSS management and employees paid off,” SSS President and Chief
Executive Officer Emmanuel F. Dooc said.
Contribution collection, which comprised the bulk of the pension
fund’s revenue for 2017 was at P159.72 billion, up 10.6 percent or P15.36
billion from P144.36 billion in 2016. The remaining P40.78 billion in total
revenues came from