Manila, Philippines — The Commission on Audit (COA) revealed that over P92.49 billion worth of premium collections to the Social Security System (SSS) were not remitted by 466,881 employers from all over the country last year.
COA’s audit report indicated that SSS was only able to collect P2.48 billion, or less than three percent, of the P94.97-billion target as of the end of 2022.
The COA added that the National Capital Region posted the lowest collection percentage at P383.78 million out of the target of P64.67 billion (0.59 percent), followed by the rest of Luzon at P747.59 million out of P22.33 billion (3.35 percent).
The Visayas’ collection percentage was at P305.54 million out of P6.48 billion (4.72 percent) and Mindanao at P405.8 million out of P7.33 billion (7.42 percent).
Meanwhile, House of Representatives committee chairman on labor and employment Rep. Fidel Nograles emphasized that the uncollected premiums are crucial in ensuring the SSS’s ability to uphold its duty of providing social security protection to private employees who have been working hard and are hoping for a decent pension after their retirement.
“We are urging our employers to fulfill their obligations and not to abandon their responsibility. Let us pay and remit the premium contributions of our employees,” Nograles said.
He added that employers may take advantage of the contribution penalty condonation programs that the SSS offers so their penalties may be waived.
“Let’s not wait for cases that will be filed against us due to our failure to remit employees’ contributions,” he said.