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Friday, October 11, 2013

Philippines-SSS has Been Doing No Good Said By Commission on Audit

The Social Security System or SSS with it's annual audit report has been noticed by the Audit Commissioner for being the state insurance for private workers that it's performance has been raising questions and unsatisfying which includes the tutrle movement of the death payments to the beneficiaries, disability payments and most of all the retirement funds. But 8 of the Board Members of the SSS received the minimum of Php 1 million for just a mere bonus for their better performance in year 2012. The SSS VP Susie Bugante said that the Governance Commission for Government-owned or controlled Corporations that rated them for a good performance. The COA said "Slow processing and payment of death, disability and retirement claims didn't meet the commitment of SSS of providing prompt, convenient, and meaningful social protection service to the members as well as with their beneficiaries." COA asked the SSS management to immediately take legal actions in collecting the Php 367 million from premiums and penalties from 139 delinquent corporations and employers which have been remiss in their responsibility under the SSS Law.
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