SSS releases about P1.45-T benefits in 60 years
Officials of the Clark International Airport Corp. (CIAC) led by Officer-in-Charge Atty. Josep Jepri Miranda (3rd,L) hold a dialogue with Mongolian International Airlines Teever (MIAT) or Mongolian Airlines Marketing Department Sales Manager Enkhbat Batsaikhan (3rd, R) and representatives from the Rakso Air Travel and Tours at the Clark airport in drawing up plans for possible chartered flights from the Chinggis Khan International Airport (ULN), located in the capital city of Ulaanbaatar, Mongolia, to the Clark International Airport (CRK) using Boeing aircraft with 164 seating capacity starting either in December 2017 or early next year. With Miranda are CIAC Airport Operations and Management Group Vice-President Arnulfo Pan (4th, L) and Department of Tourism (DOT) Route Development Head Dr. Erwin Balane (2nd, L). The officials also accompanied the Mongolian visitors in a tour of the CRK Terminal Building. As of August 2017, the much-improved CRK registers more than 200 international and domestic flights daily.
State-run Social Security System (SSS) over the weekend said it has disbursed nearly P1.45 trillion worth of benefits to its members since it started operations in 1957.
Celebrating its 60th year, SSS President and Chief Executive Officer Emmanuel F. Dooc said benefit disbursements of the pension fund grew nearly 20 million times from P80,000 in benefits paid in its first year of operations in 1957 to P1.45 trillion as of end the first semester of 2017.
“This year, as the pension fund celebrates another milestone year, we look back with pride that SSS has been a staunch ally of its members for six decades now as we look forward with hope that the pension fund will continue to stand strong, ready to help its members through difficulties and milestones of their lives for generations to come,” Dooc said.
Benefit disbursements pushed total expenditures of the pension fund to P1.58 trillion as of end-June 2017 from P580,000 in 1957.
Revenues for the 60-year period also jumped to P2.08 trillion as of end-June 2017 from P6.62 million in 1957. This was backed by the increase in members’ contributions from P6.58 million in 1957 to P1.51 trillion as of end of the first half of 2017. Investment and other income from P40,000 in the pilot year grew to P567.53 billion as of end of the first half of 2017.