SSS four-month net revenue jumps 49 percent to P14-B

The Social Security System (SSS) posted a net revenue of P13.96 billion from January to April this year, up by 49 percent from its P9.37 billion income for the same period in 2011 due to strong earnings and prudent management of expenses. SSS President and Chief Executive Officer Emilio de Quiros, Jr. said total revenues during the first four months of the year reached P44.82 billion, which includes P31.15 billion earnings from contributions and P13.67 billion in investment income. "The 15 percent growth in revenues has far outpaced the four percent increase in expenses for operations and benefits. In fact, our operating expenses amounted to only P2.43 billion, which was five percent less than the P2.55 billion we spent from January to April 2011," he said. Members’ contributions, which accounted for 70 percent of total revenues, grew by nine percent due to improved collections, including double-digit increases from priority sectors such as overseas Filipino workers and household helpers. Employees remitted P26.78 billion, or 85 percent of total contributions, while P1.79 billion came from self-employed members such as informal sector workers, farmers and fisherfolk. The SSS also collected P1.62 billion from voluntary members, P878.66 million from OFWs and P74.21 million from household helpers. Half of SSS’ P28.43 billion benefit payouts were for retirement claims. The agency also disbursed P10.94 billion for death and funeral grants; P1.41 billion for maternity; P1.16 billion for disability; and about P580 million for sickness benefits and medical claims. De Quiros said the P13.67 billion earnings from investments, which surpassed the target of P9.35 billion by four percent, reflected an increase of 31 percent from the total of P10.47 billion from January to April 2011. "A robust stock market boosted equity earnings to a four-month total of P8.26 billion, or 43 percent more than P5.76 billion in 2011. Other major investment earners were government securities, which brought in P3.01 billion, and salary loans with P1.59 billion," he said. Investments, which made up 92 percent of total SSS assets, rose to P321.88 billion as of April 30 due to additional placements in government securities, favorable mark-to-market valuation of equities and higher exposure to salary loans. The growth in investment level increased SSS’ asset size to P351.22 billion, or nine percent higher than P322.38 billion as of December 31, 2011. "We continue to manage the SSS Fund prudently and ensure safety, good yield and liquidity in our investments," de Quiros said.

Comments

Post a Comment

Popular posts from this blog

POPCOM, gagamit ng ‘digital platforms’ para pagtibayin ang mga ugnayang pampamilya

Mas pinalalawig ng Komisyon sa Populasyon at Pagpapaunlad (POPCOM) ang adhikain nitong pagpapalaganap at pagpapabuti ng pakikipag-ugnayan ng mga nakakatandang Pilipino sa kanilang mga anak na nagdadalaga at nagbibinata. Nitong Setyembre 21, ang POPCOM ay nagsagawa ng isang “parent-teen talk webinar” gamit ang Zoom, kung saan ang isang “interactive program” ang nagbigay ng naaayon na kaalaman at kasanayan sa mga magulang, habang tumulong ito sa mga anak na teenager na maabot ang kanilang buong potensyal. Hinikayat din nito ang mga nanay at tatay na sumali sa malayang usapan, lalo na sa mga usapin ukol sa sex at sekswalidad, na nakikitang makakatulong upang bumaba ang mga bilang ng mga pagbubuntis sa hanay ng mga kabataan. Maaaring mapanood ang webinar sa https://youtu.be/lZ9jrJCjYas. Ayon kay Ikalawang Kalihim (Undersecretary) Juan Antonio A. Perez III, MD, MPH, “ang webinar ay naging isang tagapag-simula at ‘padaluyan’ ng pag-uu
Read more

Biden said set to make push for demilitarized Palestinian state as part of new doctrine ---By LAZAR BERMAN

New York Times’ Thomas Friedman, who’s close to the US administration, says emerging doctrine would include Saudi-Israeli normalization, 2-state solution, and campaign against Iran US President Joe Biden’s administration is homing in on a new doctrine involving an unprecedented push to immediately advance the creation of a demilitarized but viable Palestinian state, The New York Times’ Thomas Friedman reported on Thursday. The plan, Friedman wrote, “would involve some form of US recognition of a demilitarized Palestinian state in the West Bank and Gaza Strip that would come into being only once Palestinians had developed a set of defined, credible institutions and security capabilities to ensure that this state was viable and that it could never threaten Israel.” White House officials “have been consulting experts inside and outside the US government about different forms this recognition of Palestinian statehood might take,” revealed Friedman. What he termed the new “Biden Doctrin
Read more

In Cairo, senior Hamas officials discuss hostage deal with Egyptian intelligence chief ---By TOI STAFF, AGENCIES and LAZAR BERMAN

Delegation said led by terror group’s Qatar-based political leader Ismail Haniyeh; Wall Street Journal reports Hamas demanding 150 security prisoners for each female soldier A delegation of senior Hamas officials arrived in Cairo on Thursday for talks with Egyptian officials on a possible deal that would see the release of hostages held by terrorists in Gaza. The delegation was led by Hamas political leader Ismail Haniyeh, who lives in Qatar, and included senior members Mousa Abu Marzook and Khalil al-Hayya, the Qatar-based Al-Araby news outlet reported, citing an unnamed Egyptian source. The Hamas officials met with the head of Egyptian intelligence, Major General Abbas Kamel, to discuss the details of a hostage deal proposal that was presented to the Gaza terror group earlier this week by Qatari and Egyptian mediators. The outline of the deal was drawn up during a meeting in Paris last week in the presence of Israeli and US officials, as well as Qatari and Egyptian negotiators, a
Read more