This outpaced the 5.33 percent growth in the SSS’ total expenditures, which reached P189.84 billion in 2018 compared to P180.23 billion in the previous year. Sought for comment, SSS president and chief executive officer Emmanuel Dooc said the improvement in the state fund’s net income could be attributed to the increase in contributions collected from members. “Higher contribution income slightly exceeded the benefit expense,” Dooc said in a text message. According to Dooc, the SSS genarated P181.92 billion in contribution income last year, roughly 13.9 percent up from P159.72 billion in 2017. This comprised about 86 percent of SSS’ total revenues.

Source: Philippine Star February 17, 2019 16:01 UTC