The Social Security System (SSS) announced its net income in 2023 exceeded by 62.8 percent its target of P51.06 billion to P83.13 billion as it recorded higher revenues than its expenses.

Based on its 2023 unaudited financial statement, SSS’ net income of P83.13 billion in 2023 surpassed the P52.60 billion net income recorded in the previous year.

SSS President and Chief Executive Officer Rolando Ledesma Macasaet noted that the P83.13 billion profit last year was the highest net income attained by SSS.

“Our revenue in 2023 grew by 15.6 percent to P353.82 billion from P306.16 billion in the previous year,” Macasaet said.

He said that the bulk of SSS revenue in 2023 came from contribution collection, which rose by 18.2 percent to P309.12 billion from the P261.44 billion collected in 2022.

“Our record-high net income last year shows that we continue to strengthen our finances through programs and policies that increase new paying members and strengthen collection efforts,” he added.

Macasaet said that SSS recorded lower-than-revenue expenses of P270.69 billion, wherein the lion’s share of the total expenditure in 2023 went to benefit payments to members and pensioners.

“Our 2023 expenses reflect how SSS has prudently kept its expenses at modest levels and ensure that every peso contributed by its members are well spent for the benefit of all its stakeholders,” Macasaet said.

He said benefit payments last year stood at P259.03 billion, up by 6.7 percent from P242.81 billion in 2022, while our operating expenses were at P11.65 billion, 8.4 percent higher than the P10.75 billion a year ago.

“Our operating expenses last year were only 30.32 percent of the allowed charter limit of P38.4 billion. Based on our charter, the operating expenses are 12 percent of the contribution collections and 3 percent of other SSS income such as investments and loans,” Macasaet explained.

Macasaet attributed the outstanding financial performance of SSS last year to the efforts of the SSS management and employees in intensifying its collection activities such as registering new paying members, improved collection from delinquent employers, and the 2023 contribution rate hike.

“We implemented new initiatives in 2023 that resulted to an expansion of SSS membership and reaching more workers,” SSS Executive Vice President for Branch Operations Sector Voltaire P. Agas said.

Agas also explained that it recorded a high collection of delinquencies from employers who are not remitting their employees’ contributions due to the Run After Contribution Evaders (RACE) campaign. (PR)

TACLOBAN CITY – Following a devastating fire that engulfed several houses in the upland village of Himalandrog on February 19, the provincial government of Samar and the city government of Calbayog promptly extended assistance to the affected families.

About 72 families received P30,000 cash assistance, with P20,000 provided by the provincial government and P10,000 as a counterpart from the city.

According to the City Social Welfare and Development Office (CSWDO), the fire in Himalandrog completely destroyed 69 houses and partially damaged three others.

The distribution of aid was led by Rep.Stephen James Tan (1st district), Mayor Raymund Uy, and Vice Mayor Rex Daguman, along with representatives from various government agencies.

Apart from cash assistance, the fire victims also received support from the Department of Social Welfare and Development in the form of food and non-food items, including family food packs, kitchen kits, family kits, and distilled water.

The fire not only ravaged homes but also impacted several school buildings in the area.
Chief Fire Inspector Leo Joshua Dangatan of the Calbayog City Bureau of Fire Protection explained that the remote location of Himalandrog posed challenges for firefighters, as there is no nearby fire substation and access to the village is difficult.

Dangatan further noted that the nearest accessible village to Himalandrog with vehicular access is in Barangay Tanval, requiring a trek of over an hour.
(ROEL T. AMAZONA)

ORMOC CITY—A village chairman together with one of his councilors and a barangay tanod member were killed in a gun attack on Saturday (Feb. 24) night in Barangay Daja Diot, San Isidro, Leyte.

Town police chief, Major Reymund Quinagutan, identified the casualties as Elizalde Tabon, 55, barangay chairman; Paul Al Mandero, 52, village councilor; and Rusty Salazar, barangay tanod member.

All three were inside their barangay hall when the armed perpetrators barged in and shot them repeatedly, the police officer said.

Another village watchman, Alex Bacor, who was at the gate of the barangay hall, was also hit but managed to survive.

Major Quinagutan, in a telephone interview, said that the incident occurred at about 9:30 pm while the victims were inside the barangay hall for a meeting.

He said that Tabon and Mandero were hit on their heads while Bacor sustained a bullet wound on his right shoulder and is now recuperating in a hospital in the nearby town of Calubian.

The four armed suspects, who were separately on board a motorcycle, immediately fled after the shooting incident.

Quinagutan also said that they have yet to determine the identities of the suspects and their motive.
(ROBERT DEJON)

TACLOBAN CITY – The municipal government of Matag-ob in Leyte and the National Food Authority (NFA) have formalized their partnership through the signing of a memorandum of agreement (MOA) to implement the Palay Marketing Assistance for Legislators and Local Government Units (PALLGU) Program.

Mayor Bernandino Tacoy and Engr. Charles Alingod, acting regional manager, signed the agreement on Feb.19.

PALLGU, a program initiated by the NFA, involves the local government unit providing subsidies to farmers by adding at least P2 per kilogram to the agency’s procurement price, ensuring rice farmers receive a fair or higher price for their produce.

The Matag-ob LGU has allocated P500,000 as a counterpart to the PALLGU program of the NFA.

Under this program, the palay sold to the agency by rice farmers must meet quality standards set by the NFA.

As part of the implementation of PALLGU in the municipality, farmers participating in the program are required to allocate 10 sacks of unhusked palay to sell to the agency.

The current buying price set by the NFA at the time of the press release stands at P23 per kilogram.
(ROEL T. AMAZONA)