This is in response to The Standard’s editorial titled, “Righting a grave injustice” that appeared on Feb. 15, 2016.
We are at a loss at how this article loaded with outdated information passed the layers of editorial fact-checking when up-to-date data are already available; some of which even saw print in the past issues of your paper.
We noticed that most of the data in that editorial voiced the same allegations being hurled at SSS by its detractors, whose claims were later belied by correct data and recent SSS pronouncements. Whoever wrote this article had been busy digging out passé charges just to fare poorly in a clear attempt to attack our integrity and negate the truth.
As previously explained, the information on uncollected revenues totaling P325 billion is actually referring to the total employer delinquency stated in a letter from former SSS PCEO Romulo Neri to former Congressman Lorenzo R. Tañada III in 2008 during congressional meetings on the Social Security Condonation Law of 2009 (Annex A). The amount had been reduced to only P13.5 billion in 2013 as stated in the CoA report for that period.
Despite the Unqualified Opinion issued to SSS on its financial statements in 2014 (Annex B), The Standard editorial only mentioned that part of the 2014 CoA report on SSS’ idle assets. CoA’s Unqualified Opinion is the best opinion that an agency could get and it establishes the fact that SSS has generally complied with existing financial policies and guidelines. It seems that the editorial deliberately wants to create the impression that SSS has not yet acted upon those audit findings. It has successfully revived past audit reports but completely failed at checking relevant developments.
Last year, SSS reported an income of P274.5 million in the first half of 2015 from the lease and sale of 70 percent of the P18-billion real-estate properties cited in the 2014 CoA report. These properties continue to bring in regular income for the agency. The rest of SSS assets are put up on sale while others are retained due to their expected increase in value.
Likewise, we deny that SSS “collects only 38 percent of the money collected by private companies for the SSS contributions of their employees.” The editorial must have mistaken our coverage ratio of 38 percent for collection efficiency. Coverage ratio refers to the number of actively paying members over SSS’ membership while collection efficiency is the amount of contribution collections versus the total collectibles. In 2014 for example, our collection efficiency was at almost 90 percent as contribution collections further increased to P120.65 billion against the total collectibles of P134 billion based on CoA report.
Lastly, for the record, none of the salaries and bonuses that SSS officials received are unreasonable based on what the law provides and the assessment of their performance by the Governance Commission on GOCCs.
Marissu G. Bugante
Vice President
Public Affairs and Special Events Division
Social Security System
