Social Security System quick facts

ABS-CBN Investigative and Research Group

Here are facts and figures on the Social Security System (SSS). The data includes the total number of registered members and active members, the number of pensioners, registered employers, collectibles from delinquent employers and delinquent contributions, investments and assets. There are kinds of SSS pensioners:- Retirees - Persons with Disability - Survivors (Beneficiaries of deceased members )A proposed pension hike is an across-the-board increase for all types of pensioners. Number of registered members as of September 2016: 34,576,598 (34% of Philippine population)Broken down as follows: - Employees: 25,011,837 (72.3%) - Voluntary: 4,994,296 (14.4%) - Self-employed: 4,570,465 (13.2%) Number of active members as of 2014 (with at least one month posted contribution for the year): 12,193,170Proportion of active members (2014) or those who have paid at least one month contribution in 2014—to the total number of registered members in 2014: 38 percent or only 4 out of 10 membersNumber of registered employers as of September 2016: 930,566Collectibles nationwide as of December 2014 - Delinquent employers: 97,366 - Delinquent contributions and penalties: P8.17 billionCollectibles in the NCR alone, as of December 2015 Delinquent employers: 13,886 Employees affected: 119,371 Delinquent contributions and penalties: P4.8 billionPensioners Total Number of Pensioners as of September 2016: 1,195,673 Broken down as follows: - Retirees: 1,195,673 - Persons with disability: 67,061 - Survivors: 815,549Population aged 60 and above, as of 2015: 7,639,300 Share of population aged 60 and above benefitting from SSS retirement pension, 2015: 16% (about 1 out of every 5 senior citizens are SSS retirement pensioners)SSS Pension Increase Additional amount that the SSS would need to be able to implement the P1,000-pension hike across-the-board: - P2.1 billion monthly or-P25.2 billion annually (Computation is based on the number of pensioners as of September 2016)Basic Monthly Pension Average monthly SSS pension for retirees 2010: P3,524 2011: P3,520 2012: P3,707 2013: P3,577 2014: P3,792 2015: P3,780 September 2016: P3,658 (3% decrease from 2015) Social Security premium increases since 1980 2003: 9.4% 2007: 10.4% 2014: 11% Benefits paid from January to September 2016 Total benefits paid: P98.055 billion Total beneficiaries: 2,796,509Investments and assets as of September 2016 Government securities: P180.456 billion (39%) Equities: P111.221 billion (24%) Loans to members: P85.934 billion (19%) Bank deposits: P33.82 billion (7%) Corporate bonds and notes: P38.66 billion (8%) Real estate: P20.046 billion (4%) Total investments: P470.137 billion Average return on investment: 7%Financial Position (as of December 2015) Total Assets: P444.4 billion Total Revenues: P162.1 billion Total Expenditures: P121.4 billion Total Reserves: P435.52 billionThe Social Security System’s Media Affairs Department refused to provide ABS-CBN with a list of the top delinquent employers because of confidentiality. This was the same reason given by the department for refusing to give the list in January 2016.Salaries and Allowances received by Top SSS Officials in 2015 Data from Commission on Audit’s Report on Salaries and Allowances CY 2015 (page 47)In 2015, 36 of the 37 SSS top officials received a total of P112.3 million in salaries, allowances and bonuses. Only Labor Secretary Rosalinda Baldoz did not receive compensation as SSS Commissioner.Basic Salary: P55,308,318.02 Bonus, Incentives and Benefits: P33,088,999.84 Allowances: P17,397,210.64 Discretionary and Extraordinary and Miscellaneous Expenses (EME): P8,692,797.70 PERA/Adcom/Honorarium: P1,244,213.00 Prior Year&#x27;s Adjustment: P237,108.25 Total: P115,968,647.45

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Social Security System quick facts

Social Security System quick facts

ABS-CBN Investigative and Research Group

Published Jan 13, 2017 04:16 AM PHT

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