“A major reason (for the decline) was the pension hike where we paid over P32 billion plus,” Dooc told reporters. If not for the pension hike, Dooc said the SSS could have posted a positive growth in net income in 2017. Business ( Article MRec ), pagematch: 1, sectionmatch: 1“We would have exceeded (the 2016 net income) if not for the additional pension hike,” he said. Based on the SSS’ actuarial studies last year, the pension hike cut the actuarial life of the fund by 10 years to 2032. If the SSS implements the premium increase, Dooc said the fund life would reach 2045, instead.

Source: Philippine Star January 24, 2018 16:27 UTC