The Philippines' Social Security System (SSS) reported an impressive investment revenue of PHP53.1bn (USD950m) last year, surpassing its target by 50% despite market volatility. This 18.8% increase from 2022's revenue reflects a record total revenue of PHP362.2bn, bolstered by contributions from its 16 million private sector members. The SSS's financial performance highlights effective management and investment strategies, with members' contributions reaching PHP309.1bn, an 18.2% increase. The rise in revenue is credited to a contribution rate hike and the addition of 1.4 million new paying members. Total expenditures grew by 6.7%, with benefit payments also rising to PHP259bn, maintaining operational expenses within the SSS Charter's limits.
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