spot_img
27.5 C
Philippines
Friday, March 29, 2024

SSS says revenues up 21% to P115.53b

- Advertisement -

State-run pension fund Social Security System posted a 21-percent increase in total revenues in the first half of 2019 to P115.53 billion from P95.55 billion a year ago, driven primarily by strong growth in collected contributions and investments.

SSS president and chief executive Aurora Ignacio said Tuesday both contribution collections and investments and other income during the period reached P99.08 billion and P16.45 billion, respectively.

“The contributions collected from January to June 2019 surpassed last year’s actual collections of P82 billion. This is primarily due to corporate collection efforts as well as the increase in the contribution rate and in the maximum and minimum salary credit effective April 2019,” Ignacio said in a statement.

“Further, our investment and other income bounced back this period driven by strong and favorable market conditions,” Ignacio said.

Total assets in the first half rose 6 percent to P542.27 billion from P511.47 billion in the same period last year. 

- Advertisement -

LATEST NEWS

Popular Articles