SSS president and chief executive Michael Regino said the rise in disbursements in 2022 was driven by the increases in number of benefit claims, number of members and pensioners and amount of benefit releases for retirement, disability and death. READ:
SSS president and chief executive Michael Regino said the rise in disbursements in 2022 was driven by the increases in number of benefit claims, number of members and pensioners and amount of benefit releases for retirement, disability and death.
“For the first 11 months of 2022, we have received 4.58 million benefit claims. This is 7.3-percent higher than the 4.27 million benefit claims we received for the same period last year,” Regino said. “Our pensioners, which stood at three million in 2021, grew to 3.18 million by November 2022, while our retirement, disability and death benefit monthly disbursements, which averaged at P16.6 billion in 2021, increased to P19.53 billion for January to November this year,” he said.
The fund said that from 2016 to 2021, the amount of benefit disbursements and the number of claims also grew by an average of 11.4 percent and 7.9 percent, respectively, despite the 1-percent decrease in in 2020 due to the pandemic.
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