The Social Security System (SSS) has trimmed P1 billion from its programmed expenses for 2017 as part of measures to improve financial performance.

From the original proposal of P13.22 billion, the Social Security Commission (SSC) board approved an allocation of P12.21 billion for operating expenses, which is 54 percent of the Charter’s limit or 5.7 percent of total revenue, the state-run pension fund for private sector workers said in a statement on Tuesday.

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