The Social Security System (SSS) emphasized that the continuous deferment of the premium hike contribution of members will have a negative effect.
The SSS said in the House Committee on Public Accounts meeting that it needs to implement reforms to avoid untoward outcomes, including fund depletion.
“If we do not implement the reforms being put by the new law, like increase in contribution rates, mapapabilis po yung ‘pag deplete ng ating reserved funds (it will accelerate the depletion of our reserved funds),” Atty. Edgar Cruz revealed.
“The answer is in the short term, this year, next year, kaya po (we can). But we cannot keep on delaying the reforms,” Cruz added.
However, 1-Pacman Party-list Rep. Enrico Pineda floated the idea that some employees are compensated without doing anything. This, he said, should be looked into.
Bayan Muna Party-list Carlos Zarate also questioned the attention being given to the increase in contribution when there are many members who are not paying.
“Napakahirap kung default mode ninyo ay pagtaas ng premium where in fact, kayo ‘yung nagkulang sa pag-implement ng reforms that you promised (It is hard if your default mode is to increase premium when in fact, you had shortcomings in the implementation of reforms that you promised),” Zarate pointed out.
“We cannot do an overnight change on collection coverage, but we are going there. As we can see, there’s more or less more than 3 million members that have increased from 2017 to 2019,” SSS Pres. Aurora Ignacio responded.
Zarate cited there are 37 million members of SSS in 2019 but only 17 million were paying contributions. SSS assured that it is resorting to all measures available and will expand its collection. – Report from Daniel Manalastas
