SSS sees net income to hit P140-B in 2024

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00:00What difference a play in words makes for a marketing strategy that has hit home to the hearts and minds of one's target

00:07consumers. A shortened and simple rephrase of a pension program has turned into a windfall of tens of millions, or roughly

00:1540% in excess of

00:17SSS target revenue for this year, as our Rod Laguzad reports.

00:23Social Security System expects its net income to reach 140 billion pesos this year.

00:30This is higher than the agency's previous target of 100 billion pesos for 2024.

00:35Based on the data of SSS, as of July, SSS net income is already at 56.7 billion pesos.

00:42SSS President and CEO Rolando Macasayet said this is members' contribution and SSS investments.

00:48He added that part of measure of SSS to achieve this is to move their branches in different parts of the country to malls

00:54to save on rent, as there is no charge here.

00:57Macasayet also expects that there will be additional 2 to 3 billion pesos worth of contribution that will be collected this year.

01:03He added that this will come from 4 million new SSS members.

01:07Their branded Workers Investment and Savings Program, or WISP, now called Pension Booster,

01:12which he says is easier to understand by the public, also contributed to the higher collection.

01:18Because of our executives who initiated this, indeed, the response was super positive.

01:28As I understand it, the deposits for WISP or the Pension Booster was only about 40 million a month.

01:35I think we're hitting over 100 million a month already.

01:39The SSS continues to expand the number of members, such as the inclusion of barangay officials,

01:44who are not covered by the GSIS, and also the job orders and contract of service workers in different local government units.

01:51And as for the last stretch of the mandated contribution hike next year, the SSS will push through with it to keep the pension fund viable.

01:58Macasayet stressed that the law will be followed.

02:01Under the Social Security Act of 2018, there will be 1% increase in the contribution of members every two years.

02:08Meanwhile, as SSS commemorates its 67th anniversary, the agency launched its enhanced logo and redesigned website,

02:16which is user-friendly and has a dedicated page for overseas Philippine workers.

02:20The SSS also honors its partners who helped implement their programs, including PTV,

02:26who recognizes the Best Media Partner in the Broadcast National category at the Balikat ng Bayan Awards.

02:32This is because of the network's contribution in providing important information to SSS members, pensioners, and other stakeholders.

02:39PTV General Manager Toby Nibrida and PTV anchor Dian Carrer personally accepted the recognition.

02:45It's very important that we are reminded of our mandate to provide adequate, immediate information that helps our people.

02:57This is part of our mandate to help all agencies of our government, including our SSS.

03:07GM Nibrida assured the network's support to SSS programs will continue.

03:11Other honorees include various collections, disbursements, and accredited agents of the SSS, plus its top employers.

03:19Rod Leguzed, from the National TV Network, for a new and better Philippines.

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