MANILA, Philippines — The Social Security System (SSS) has some P437-billion uncollected premiums and penalties since 2010, Bayan Muna Chair and Makabayan senatorial bet Neri Colmenares bared on Tuesday. Colmenares again said that before increasing contributions, the state-run pension fund should first improve its collection rate. ADVERTISEMENTCiting media reports and the Commission On Audit (COA) 2010 report, Colmenares said the SSS had an estimated P109 billion of unremitted premiums and P280 billion in uncollected penalties. If it can’t even collect these huge amounts, what right does SSS have to raise premiums?” Colmenares said in a statement. READ: Hike in SSS premiums to ’embolden lazy execs’ — Bayan MunaRead NextLATEST STORIESMOST READ

Source: Philippine Daily Inquirer February 19, 2019 10:30 UTC