|
STATE-RUN Social Security System said it has rewarded
pensioners with a bonus this month, in line with the pension
fund’s anniversary.
In a statement, Romulo Neri, SSS
president and chief executive said the board approved a
P675.61-million allotment for the one-time anniversary bonus for its
pensioners at P500 each.
SSS disburses nearly P4 billion a
month for pensions of about 1.4 million members. It grants lifetime
pensions for retirement, death and disability to members with the
required number of contributions.
Over 98 percent of monthly
pensions are sent through bank accounts and the rest are checks sent
by mail.
In the first half this year, SSS
reported P34.1 billion in revenues from members’ contributions,
and another P19.07 billion in income from investments.
On the expenditure side, the
pension fund spent P3.01 billion for operations, down P118 million
year-on-year. Disbursement for members’ benefits, however, grew by
16 percent year-on-year to P33.41 billion.
About P84.8 billion are invested
in Treasury bills and other government debt instruments. Some P58.2
billion are placed in stocks, P7 billion in developmental loans,
P26.1 billion in housing loans, P37.9 billion in salary loans and
P10.5 billion in real estate.
This
year, Neri said SSS is eyeing for 15-percent profit growth.
--Chino S. Leyco
|
