INTRODUCTION

The Social Security System (SSS) is a corporate body created

under R.A. No. 1161, otherwise known as the Social Security Act
of 1954. Amendatory bills were introduced and were finally
implemented on September 1, 1957, marking a significant
milestone in the social security program. The SSS administers the
Social Security Program for private sector workers.
To further strengthen the SSS, R.A. No. 8282, also known as the
Social Security Act of 1997, was signed on May 1, 1997. Under
this Act, the government accepts general responsibility for the
solvency of the SSS and guarantees that prescribed benefits to
members shall not be diminished. Section 16 of R.A. No. 8282
exempts the SSS and all its benefit payments from all kinds of
taxes, fees or charges, customs or imports duty.
The SSS has now a membership of more than 33,622 million.
Services to members are extended through SSS network of 268
local offices and 22 foreign offices. The SSS is directed and
controlled by the Social Security Commission (SSC). The general
conduct of the operations and management functions is vested on
the SSS President and Chief Executive Officer (CEO). All members
of the SSC including the SSS President and CEO are appointed by
the President of the Philippines.
The SSS is a financial institution and its principal office is located
in East Avenue, Quezon City. It has a total personnel complement
of 8,281 comprising of the following:
Location
Main Office
National
Capital
Branches
Regional Branches
Total

Region

Regular
2,188
1,120

Contractual
1,102
444

Total
3,290
1,564

2,523
5,831

904
2,450

3,427
8,281

FINANCIAL HIGHLIGHTS (in million pesos)

I.

Comparative Financial Position

Particulars

Assets
Liabilities
Reserves

2015

2014

444,399
8,875
435,524

427,165
8,848
418,317

Increase
(Decreas
e)
17,234
27
17,207

II.

Results of Operations
Particulars

2015

2014

Members contributions
Investment
and
other
income
Total revenues
Benefit payments
Operating expenses
Total expenses
Excess of revenue over
expenses

132,615
29,487

120,650
34,531

Increase
(Decreas
e)
11,965
(5,044)

162,102
112,561
8,846
121,407
40,695

155,181
102,599
8,114
110,713
44,468

6,921
9,962
732
10,694
(3,773)

III.

Budget Utilization

DBM Approved
Corporate
Particulars
Operating
Budget
Personnel Services
6,501
Maintenance
and
4,042
other
operating
expenses
Capital outlay
1,249
Benefits payment
108,500
Total
120,292

Disbursem
ent
6,214
3,308

1,648
103,150
114,320

Balance
(Excess)
287
734

(399)
5,350
5,972

OPERATIONAL HIGHLIGHTS
In 2015, SSS recorded net revenue of P40.695 billion, P3.773
billion or 8.48 per cent lower than last years figure of P44.468
billion. Revenues from contribution collections and investments
amounted to P162.102 billion in 2015 which resulted in a growth
of P6.921 billion from last years amount of P155.181 billion. On
the expenditure side, SSS posted an increase of 9.66 per cent in
2015 and 52.66 per cent of the allowed charter limit. Members
who are actively paying their contributions also increased by
1,143 from 11.844 million in 2014 to 12.987 million in 2015.