The Social Security System and other government agencies have incurred uncredited payments amounting to P18.28 billion in 2015, the Commission on Audit said.
CoA said SSS was liable for P9.9 billion in “undistributed collections” of members’ premiums and loan payments.
The Government Service Insurance System, on the other hand, failed to credit P2.7 billion in collections.
CoA said the Social Housing Finance Corp. (formerly the National Home Mortgage and Finance Corp.) had undistributed payments of P372.6 million, while the Pag-IBIG’s Home Development Mutual Fund had P264.1 million. The Small Business Corp. also failed to credit P1.8 million in payments while the Armed Forces of the Philippines-Retirement and Separation Benefits System failed to credit P4.9 billion.
CoA said delays in the crediting of collections to individual accounts of members and borrowers could lead to double collections and lower entitlements.
CoA, in partiular, told GSIS to refund its members, who would have to bear the brunt of the uncredited payments.