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Philippine Social Security System 2007 Annual Report


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Published in: Economy & Finance

Philippine Social Security System 2007 Annual Report

  1. 1. 2007 A N N U A L R E P O R T Truly Time-tested. SOCIAL SECURITY SYSTEM
  2. 2. Contents 2007 ANNUAL REPORT Highlights of Operations (Amounts in Million Pesos) Consolidated 01 Highlights of Operations 2007 For the Year 2006 Increase/(Decrease) Amount % A. REVENUES & EXPENDITURES 02 Statement of Mission and Vision Revenues 79,699.06 64,651.50 15,047.56 23.3 Contributions 61,829.08 52,543.60 9,285.48 17.7 Investment and Other Income, net 17,869.98 12,107.90 5,762.09 47.6 Messages Expenditures Benefit Payments 67,565.85 60,746.59 58,501.88 52,122.01 9,063.97 8,624.58 15.5 16.5 03 Message of the President of the Republic of the Philippines Operating Expenses 6,819.26 6,379.87 439.39 6.9 04 Message of the Chairman Net Revenue/(Loss) 12,133.21 6,149.62 5,983.59 97.3 B. ASSETS & RESERVES 06 Message of the President and CEO Assets 247,737.21 228,444.46 19,292.76 8.4 Investments 225,565.32 205,225.54 20,339.78 9.9 SSS Properties 2,586.33 2,544.54 41.79 1.6 2007 In Review Others Liabilities Reserves 19,585.56 4,720.56 243,016.66 20,674.38 3,448.59 224,995.87 (1,088.81) 1,271.97 18,020.79 (5.3) 36.9 8.0 09 Celebrating the SSS’ Golden Year 19 Nurturing Relationships with Special Sectors and the General Public Social Security System 23 Taking the Lead in International Relations 2007 For the Year 2006 Increase/(Decrease) Amount % A. REVENUES & EXPENDITURES 24 Forging Partnerships for Better Service Revenues 77,887.26 62,586.42 15,300.83 24.4 25 Expressing Corporate Social Responsibility Contributions Investment and Other Income, net 60,769.48 17,117.78 51,633.40 10,953.03 9,136.08 6,164.75 17.7 56.3 27 Developing SSS Employees’ Skills, Competence and Well-Being Expenditures Benefit Payments 66,363.24 59,665.36 57,300.66 51,051.58 9,062.58 8,613.78 15.8 16.9 29 Expanding SSS’ Reach and Service Network Operating Expenses 6,697.88 6,249.08 448.80 7.2 Net Revenue/(Loss) 11,524.02 5,285.76 6,238.25 118.0 Financial B. ASSETS & RESERVES Assets 224,928.56 205,878.60 19,049.97 9.3 30 Statement of Management’s Responsibility for the Financial Statements About the Cover Investments SSS Properties 211,167.87 2,586.33 187,759.48 2,544.54 23,408.39 41.79 12.5 1.6 31 State Auditor’s Report on the Consolidated Financial Statements The 2007 Annual Report cover highlights the Others Liabilities 11,174.36 4,831.47 15,574.58 3,562.61 (4,400.22) 1,268.86 (28.3) 35.6 50th founding anniversary of the Social Security Reserves 220,097.10 202,315.99 17,781.11 8.8 32 Consolidated Balance Sheet System. 33 Consolidated Income Statement Like pure gold that has gone through the acid Employees’ Compensation and State Insurance Fund test, the SSS has been tested by time-50 years of 34 Consolidated Statement of Changes in Reserves reliable, trustworthy and faithful service to the 2007 For the Year 2006 Increase/(Decrease) Amount % Filipino worker and his beneficiaries. 35 Consolidated Statement of Cash Flows A. REVENUES & EXPENDITURES On a backdrop of golden skies symbolizing the 36 Notes to Consolidated Financial Statements bright hopes for the future is a gold pocket watch Revenues Contributions 1,811.81 1,059.60 2,065.07 910.21 (253.27) 149.39 (12.3) 16.4 signifying the length of time that SSS had carried Investment and Other Income, net 752.21 1,154.87 (402.66) (34.9) 42 Internal Auditor’s Report out its mandate. On the face of the watch are images of President Ramon Magsaysay signing Expenditures 1,202.61 1,201.22 1.39 0.1 43 Historical Data the landmark legislation creating the SSS in Benefit Payments Operating Expenses 1,081.23 121.38 1,070.43 130.79 10.80 (9.40) 1.0 (7.2) 1954 and the happy faces of the beneficiaries of the program represented by a construction Management Net Revenue/(Loss) 609.19 863.86 (254.66) (29.5) engineer, an overseas Filipino nurse and an old- age pensioner. B. ASSETS & RESERVES 46 Social Security Commission Behind the gold watch is the 50 anniversary th Assets 22,919.60 22,679.90 239.70 1.1 logo dominated by the number 50, the stylized 48 Senior Management rendition of the three S’s juxtaposed on the SSS Investments Others 14,397.45 8,522.15 17,466.06 5,213.84 (3,068.62) 3,308.31 (17.6) 63.5 main office building indicating the durability, 52 SSC and SSS Management Directory stability and strength of the institution. Liabilities Reserves 0.04 22,919.56 0.03 22,679.88 0.01 239.68 43.6 1.1 Time-tested indeed. 1
  3. 3. Statements Message of the President of the Republic of the Philippines Statement of Mission M y sincere congratulations to the Social Security System (SSS) as it successfully marks 50 years of dedicated service to working Filipinos here and abroad. As it celebrates The mission of the SSS is spelled out in Section 2 of the Social Security its golden anniversary, the SSS is firmly back on its feet, Law (Republic Act No. 1161), as amended by the Social Security Act of stronger, and more resilient than ever, and its public credibility regained, 1997 (Republic Act No. 8282): as evidenced by its consistent high ranking in surveys of institutions effectively fighting corruption. “It is the policy of the State to establish, develop, promote and perfect a sound and viable tax-exempt social security system suitable to the The reforms within SSS have resulted in improved contribution collection needs of the people throughout the Philippines which shall promote and membership coverage, increased revenues, a crackdown on social justice and provide meaningful protection to members and their remittance delinquents, and better fiscal discipline. This has put the SSS beneficiaries against the hazards of disability, sickness, maternity, on a path to sustainable growth and stability, as shown by an actuarial old age, death and other contingencies resulting in loss of income or fund life span that has lengthened by more than 20 years. By ensuring financial burden. Towards this end, the State shall endeavor to extend that collections continue to exceed benefit payments, the SSS is steadily social security protection to workers and their beneficiaries.” moving towards attaining perpetuity in its fund life – a situation that will ensure that SSS can continue fulfilling its mission of viable and social security coverage. The 50th Anniversary logo design highlights the 50 years of SSS’ existence. Statement of Vision Indeed, for the past 50 years, the SSS has not just improved the lives of its individual members, but has also contributed to the expansion of The SSS aims to develop and promote a viable, universal and equitable the national economy through investments that grow business, create Circular in shape and rendered social protection scheme through world-class service. jobs, foster better healthcare, and allow more educational and housing in blue and yellow, the round logo opportunities. suggests the global reach of SSS. Viable means that it is financially sustainable, non-distortionary, and The golden yellow color refers to requires no government subsidy. Current and future generations of As the SSS prepares for the next half century and beyond, it should the golden or 50 years of SSS. workers and retirees are also assured of meaningful benefits in return continue to reflect new levels of maturity in its social security schemes, as The rich electric blue used as for their contributions. well as in its modernization and technological improvements. However, it must also continue balancing its vital functions of capital build-up and background provides an effective Universal means that protection shall be provided to all residents of the support for national social programs, along with is mandate of providing contrast to the yellow, thus focusing Philippines, citizens and non-citizens alike, regardless of race, creed, a lifeline to its members. the sight to the 50 years graphic gender, age, geographic location and socio-economic status. Attention element. The electric blue is also will be given especially the disadvantaged and overseas Filipino workers I am confident that the good men and women of SSS, led by Social the corporate color of SSS. The (OFWs). Security Commission Chairman Thelmo Y. Cunanan and President and stylized triple S elements are Ten-Point agenda to “Beat the Odds” CEO Corazon S. de la Paz–Bernardo, are up to the challenge of living up reminiscent of upward line graphs, Equitable means fair and uniform coverage shall be made available to in Six Years under the Arroyo to your anniversary theme, as the people’s kaagapay, kaibigan, kabalikat indicating the dynamism of SSS. all. Benefit entitlements shall be closely linked with contributions. Administration magpakailanman. The SSS building in the background World-class service means that the highest standards of service shall B - Balanced budget Maraming salamat at Mabuhay ang SSS! signifies the strength and stability be used to ensure total member satisfaction. A multi-skilled, forward- E - Education for all of the institution. Completing the A - Automated elections looking and generalist SSS workforce shall provide service that is logo is the anniversary theme: T - Transport and digital infrastructure to prompt, accurate and courteous. “Kaagapay, Kaibigan, Kabalikat connect the country Magpakailanman,” i.e., the SSS is a GLORIA MACAPAGAL-ARROYO helping hand, a friend, a shoulder to T - Terminate the MILF and NPA conflicts H - Heal the wounds of EDSA President lean on at all times to its members Republic of the Philippines E - Electricity and water for all Barangays and their beneficiaries. O - Opportunities for 10 million jobs D - Decongest Metro Manila DS- Develop Clark and Subic 45 2 3
  4. 4. Message “ Protecting the soundness of the SSS Program is certainly a step towards ensuring that the SSS will be there for the next generation.” of the Chairman 2 007 is a year of special importance to the Social Security its actions and decisions. In addition, the SSC will continue to System (SSS) as it celebrates half a century of dedicated ensure that investment decisions are manifested in an investment commitment to effectively fulfill its mandate of providing portfolio that gives the SSS safer, better and more predictable social protection for generations of SSS members and yields. In 2007, the SSC started work on the formulation of an pensioners, epitomizing its role as a true “Kaagapay, Kaibigan, Asset Allocation Strategy, taking off from the recommendations of Kabalikat Magpakailanman”. It is with great pride and distinct the World Bank-Asia Europe Meeting funded project. pleasure that I serve as Chairman of the Social Security Commission (SSC) through 2007, SSS’ Golden Anniversary Year. The SSC also notes with satisfaction the focus and zeal of SSS under President and CEO Corazon S. de la Paz – Bernardo in strengthening Apart from being an institution that its members can turn to its governance standards in the four areas of Financial Viability, in times of financial need brought on by contingencies, SSS Sound Investments, Quality Service and Corporate Culture. also plays a critical role in the economy and its development. Its contributory role in economic development is channeled We at the SSS have taken on the challenge of restoring the financial through its investments for the development and expansion of the health and the fiscal sustainability of the Fund. Protecting the productive capacity of key sectors particularly in housing, energy, soundness of the SSS Program is certainly a step towards ensuring infrastructure, telecommunications and utilities. As a government that the SSS will be there for the next generation. We would like financial institution, it also supports the growth and development to express our sincerest thanks to Her Excellency President Gloria of the local capital market. Through its banking partners, the SSS Macapagal-Arroyo for the continued support she has extended to injects funds to the private sector through its investments in long- the SSS most particularly the approval of the much-needed one- term corporate bonds and notes, real estate properties, as well as in percentage point increases in the SSS contribution rates in 2003 more liquid instruments such as equities and stocks. and 2007. While a number of reform measures have been adopted by the SSS, none is as correct, as direct and as appropriate as a raise It is for the above reasons that the SSS is committing itself not in its contribution rate. only to restore the financial health, the fiscal sustainability and the actuarial life of the system but equally important is to provide Maligayang ika-limampung anibersaryo sa SSS. Salamat sa kalahating meaningful benefits to our members. By facing up to the challenges dekada ng paglilingkod sa mamayang Pilipino. that confronted the SSS in the recent past years, and with the help of all the SSS stakeholders as well as our national policymakers, the SSS has succeeded in making the institution a more sustainable provider of social protection in the country and a stronger partner in its development with the implementation of the various corrective measures and reforms. Foremost of its achievement is the extension in the actuarial life of the fund by more than 20 years, based on the 2007 actuarial updates, from the 2015 fund life in the 1999 actuarial valuation. Along the way, we are able to correct the imbalance between the SSS contributions and benefit payments and achieved a high surplus of P1.1 billion in 2007. THELMO Y. CUNANAN With the vision to extend the mantle of social protection to more Chairman Filipinos, SSS membership has significantly grown to more than 27 million individual members as of end-2007. This is 9.4 million more than the membership in 1996, prior to the enactment in May 1997 of a new Social Security Law or the Social Security Act of 1997 (Republic Act 8282). The role of the SSC in ensuring the SSS commitment to the primacy of its fiduciary responsibility to its members as well as fostering good governance to encourage even greater transparency, accountability and efficiency is rather critical. Through the various committees formed within the SSC, namely, the IT Sub-Committee, the Budget Committee and the Audit Committee, the SSC has focused its various programs on the need to increase management’s accountability for 45 4 5
  5. 5. “ The 50th year milestone gave us the opportunity to look back to our past Message and learn from the wisdom of our founding fathers and be inspired to move forward to another 50 years: wiser, stronger and more focused.” of the President and CEO T he year 2007 marked a very significant milestone in the SSS also continued to embark on its drive to minimize fraudulent resumed the educational and scholarship grants both locally and history of the Social Security System as it celebrated its benefit claims with the enhancement of the Annual Confirmation of abroad. We continued to embark on a number of activities that 50th founding anniversary. For half a century, the SSS has Pensioners, a program which started in 2004. The enhancements would contribute to the health and well-being of SSS employees consistently and unwaveringly risen up to the challenge of aim to provide greater convenience to our pensioners as well and consequently, ensure a balanced work-life such as sports fulfilling its mandate of providing meaningful protection to private as immediate restoration of pensions upon compliance to the activities, quarterly after-office unwinding activities, fitness sector workers and their families against the real life contingencies program. workshops, among others. of old age, disability, death, sickness, maternity and employment injury. Presiding over the administration of the SSS during this Higher returns on investment. The investment portfolio of SSS is Keeping true to its commitment of institutionalizing a corporate auspicious time in the SSS’ history is an honor indeed. now giving it safer, better and more predictable yields. Year 2007 culture that instills professionalism and integrity, a Code of Ethics chronicled another momentous year in terms of investments. SSS has been finalized to guide in the execution and discharge of Aside from 2007 being its golden year and therefore a time of benefited much from the bullish performance of the stock market, official duties of all SSS officials, employees and service bureau jubilation, the SSS’ solid performance during the year gives much earning dividend income of P2.6 billion from its equity holdings. contractuals. In a related matter, in a recent survey of the Social cause for celebration. The SSS likewise earned P9.9 billion mainly from the sale of shares Weather Station, the SSS ranked first among government financial of San Miguel Corporation (P7.1 billion) and PLDT (P2.3 billion). institutions and placed second among 29 government offices in the Growth in contributions. For the third year in a row, SSS These transactions bring total income from equities to P11.6 billion, executive branch in terms of sincerity in battling corruption. This is contributions collection exceeded benefit payments posting a huge almost five times as much as the previous year’s income. Given the second time SSS obtained a high sincerity rating in the survey. surplus of P1.1 billion, almost three times as much as the P422 the extraordinary transactions from equities, total income from million surplus recorded in 2006. The contribution-benefit surplus investments and other income reached a high of P17.9 billion, a Efforts are underway for the building construction of eight (8) SSS was achieved as contributions collection grew at a faster pace of sharp rise of 47.6 percent from the investment income earned in branch offices, particularly the much-delayed Cebu Branch, in 17.7 percent vis-à-vis the 16.6 percent growth in benefit payments. 2006. Furthermore, the SSS also benefited from the sale of Banco order to service our expanding membership and to accommodate It may be recalled that not so long ago, the SSS continuously De Oro stocks with realized gain of P9.1 billion and which would our tellering facilities. Lot acquisition and renovation of SSS stayed in the red from 1999 to 2004, reaching its historic high be reflected in the 2008 financial accounts. buildings are likewise on-going. contribution-benefit deficit of P7.6 billion in 2001. Henceforth, the SSS deliberately adopted measures to narrow the contribution Greater collection efforts have been pursued, including the Celebrating fifty years. To mark this milestone year, we pulled all deficit and successfully achieved a dramatic turnaround in the extension of the condonation program for salary loans as well as for stops to celebrate meaningfully SSS’ founding anniversary together financial status beginning in 2005. housing loans to encourage members to pay their delinquencies. with our members, partners, and former employees. In recognition The extension of the salary loan condonation program for the period of the important role that former President Ramon Magsaysay The growth of contributions collection from P52.5 billion in 2006 January to June 2007 yielded an additional collection totaling played in the formation of SSS, a set of commemorative stamps to P62 billion in 2007 was partly made possible as SSS managed to P110 million from 28,180 accounts. Whereas, the condonation in his honor was launched together with the Philippine Postal get the approval of President Gloria Macapagal-Arroyo for another program for housing loans which was extended until March 2008 Service. A refurbished Ramon Magsaysay Hall, the SSS auditorium one-percentage point increase in the SSS contribution rate to 10.4 generated an additional P269 million in collection and benefited at the second floor of its main office, was likewise inaugurated with percent effective January 2007. More importantly, contributions 6,467 accounts. the members of the Magsaysay family gracing the occasion. collection was further improved with the continued enhancement of existing programs as well as the introduction of new ones such as Prudent operating expenses and longer fund life. Equally Likewise, Her Excellency President Gloria Macapagal-Arroyo (a) expansion of the teller counter facilities from 51 to 77 branches significant, we have managed to keep the growth of operating honored us with her presence during the 50th Anniversary program (including the Main Office) and automation of 19 of these facilities, expenses at prudent levels. For 2007 SSS operating expenses stood held on Sept. 3. In her keynote message, President Arroyo thanked (b) expansion of existing payment facilities, (c) implementation at P6.82 million, higher by 6.9 percent compared to the 2006 level the SSS for half a century of service to the Filipino people and of new payment channels for individual members, including the but well within the Charter limit. commended the institution for embarking on a radical reform Overseas Filipino Workers (OFWs), and (d) intensified collection program that reversed the financial collapse it faced six and a efforts by accounts officers and cluster legal units. The period of cumulation of revenues vis-a-vis expenditures over half years ago. In the words of President Arroyo “Now, SSS is the period of SSS existence is reflected in the steady growth of fund back on its feet, stronger and more resilient than ever, and with Growth in Benefits. The growth in benefit payments from P52.1 assets. In a span of five decades, total assets soared from P6.4 your credibility regained, ranking third in the survey of institutions billion in 2006 to P60.8 billion in 2007 may be attributed largely million in 1957 to P248 billion as of end-2007. effectively fighting corruption.” to the 10 percent across-the-board pension increase effective August 1, 2007. This was the second time that the SSS announced a It is worthwhile to note that the sum total of the efforts of the SSS In order to celebrate with our members this milestone year, we pension increase in less than a year. The earlier pension increase in translated to a further improvement in the actuarial life of the fund. conducted a special day for our pensioners nationwide providing September 2006 was the first pension increase since 2001. These Now, the most recent computation of SSS actuaries is showing an them with medical and other services. We also honored our pension increases were granted in response to the long-standing additional 6 years in the life of the fund, extending it from 2030 partners in giving meaningful social security protection to our clamor of its more than one million pensioners and were made based on the 2003 actuarial valuation to 2036 based on the 2007 covered members through the “Balikat ng Bayan” Awards during possible after having restored financial vigor and strength into the actuarial updates. an awarding ceremony in October 2007. Likewise, a Family SSS. In view of the recent pension increases, retirement and death Day for SSS Employees was celebrated for the first time. We also benefits soared by 19.5 percent and 18.7 percent, respectively, Professional and ethical workforce. To further enhance the skills invited the men and women who helped build SSS to what it is from the 2006 levels. These two benefits accounted for more than and competence of our growing workforce, we continued to today to a special reception in their honor as a way of expressing 80 percent of total benefit payouts to members. conduct training and professional development programs and has the institution’s gratitude for their contributions and sacrifices. In 45 6 7
  6. 6. that occasion Defense Secretary Gilbert Teodoro, the son of former SSS Administrator Gilberto Teodoro who served for 20 years, was invited guest of honor. Truly, the 50th year milestone gave us the opportunity to look back to our past and learn from the wisdom of our founding fathers and be inspired to move forward to another fifty years: wiser, stronger and more focused. External Orientation. The SSS values its membership in organizations such as the International Social Security Organization (ISSA), the ASEAN Social Security Association (ASSA) and, at the local level, the Philippine Social Security Association (PhilSSA). Celebrating the SSS’ Golden Year These organizations foster cooperation in the promotion and development of social security throughout the world, primarily through its technical and administrative improvements. Opportunities to improve ourselves abound by learning from the experiences of other countries as well as other organizations within the country. My re-election to the ISSA Presidency in September 2007 has provided another opportunity for the country and the SSS to be The year 2007 was a banner year for SSS in every respect. Not only did SSS post a record high financial performance during this right at the center of developments as the Philippine agenda for time, it was also the year it marked its 50th founding anniversary. social security reform continue to conform with the ISSA agenda. For institutions, 50 is quite young; nonetheless, it is deserving of a special celebration. Hence, SSS pulled all stops to mark this Conclusion. It is gratifying to note that on its 50th year, the SSS milestone year to remember how the institution began and to trace its development and evolution to what it is today: a noble, posted significant growths in all areas of its operations. For these, dynamic and reliable partner of the workers and their families. we thank our members, their beneficiaries, our pensioners, our partner banks and other business partners, the SSS personnel, the Social Security Commission and her Excellency President Gloria Macapagal-Arroyo for their unending support, trust and To officially signal the start of the celebration, a 50- Shown unveiling the countdown marker is President and confidence. The SSS has always believed that every challenge day count down to September 1st, the official founding CEO Corazon S. de la Paz-Bernardo with Vice President defines an opportunity; the greater the challenge, the greater the anniversary of SSS, was held on July 13, followed by Alfredo S. Villasanta, Chief Actuary and Executive Vice opportunity. Now more than ever, SSS needs the support of all its a consultative meeting with former SSS employees President Horacio T. Templo, and Engr. Nestor R. Sacayan. members and stakeholders as it grasps this opportunity to continue restoring the SSS farther into the future. and officials who were made part of the celebration. 50-DAY COUNTDOWN TO 50 YEARS ELECTION OF ISSA OFFICERS AT THE 33RD SESSION OF THE COUNCIL CORAZON S. DE LA PAZ–BERNARDO At the 33 Session of the Council, SSS President rd President and CEO and CEO Corazon S. de la Paz-Bernardo of the Philippines was re-elected by acclamation as President of the International Social Security Association (ISSA) for another three year-term with Hans-Horst Konkolewsky, Secretary General (left) and Wim Franssen, Treasurer (right). 45 8 9
  7. 7. INAUGURATION AND BLESSING OF REFURBISHED CONSULTATION MEETING WITH FORMER SSS OFFICIALS RAMON MAGSAYSAY HALL MUSEUM EXHIBIT Pioneering officials and employees recounted the history This was followed by the re-opening of the newly of the institution and their roles in it during a consultative refurbished Ramon Magsaysay Hall, named after the meeting at the Executive Lounge. beloved Philippine President under whose administration the SSS came into being. Senator Ramon Magsaysay Jr., and sister Mila Magsaysay-Valenzuela graced the ceremonies, which also opened the new SSS Museum. Afterwards, the postal stamps commemorating the SSS’ 50th Anniversary were unveiled. THE EMPLOYEES’ CENTER GARDEN, inaugurated by President and CEO Corazon S. de la Paz-Bernardo, proved to be August 31, 2007 proved to be a busy day, which a relaxing oasis for harried SSS employees and members started with the opening of exhibits led by Chairman Aside from the SSS commemorative stamps, also unveiled alike, as well as venue for employee programs at the Thelmo Y. Cunanan and President and CEO were the postage stamps marking the birth centenary of Main Office. Corazon S. de la Paz-Bernardo. President Ramon Magsaysay. 50TH ANNIVERSARY ACTIVITIES COMMENCE COMMEMORATIVE STAMPS UNVEILING 45 10 11
  8. 8. EMPLOYEE AWARDS The Employee Awards Program honored the 2007 Best Account Officers, the best processing branches via the 2007 Covenant of Service Awards, and the outstanding Member Service Officers via the Eriberto W. Valencia Service Excellence Award which was launched for the first time in honor of the late Deputy Administrator Eriberto W. Valencia who was known for his dedication and service to the SSS and its members. It was rather unfortunate that the nominee of the Southern Mindanao Cluster to the EWV Service Excellence Award Search, Macario L. Calunsag, Jr. Officer-in-charge of Cotabato Branch, was shot dead on August 29, 2007, two days prior to the awarding on September 1. There were strong indications that the motive was work-related since Mr. Calunsag had no known enemies except for occasional discussions with persons who were assisting the claimants. “Macmac”, as known to his friends and To enable employees to relax and celebrate SSS’ 50th relatives, led his people to believe that providing the year, a concert of various bands was held on August 30 best service is the best weapon an employee can have at the new garden area. in public service. EMPLOYEES’ NIGHT MACARIO L. CALUNSAG, JR. 45 12 13
  9. 9. GRAND HOMECOMING OF SSS OFFICIALS AND EMPLOYEES Former Social Security Commission (SSC) Chairman It was a night of nostalgia, recognition, and merrymaking Adrian E. Cristobal was represented by his son, DTI as the former officials and employees of SSS gathered at Assistant Secretary Adrian S. Cristobal, Jr. (2nd top left the Members Assistance Center at the Main Office for photo) while the oldest surviving SSS employee, Mrs. a grand homecoming. Department of Defense Secretary Evangelina H. Lacson (center, top left photo) also Gilbert Teodoro, Jr. (top center photo) --- the son of graced the affair. Former Salary Loans Department Head SSS’ longest-serving administrator, Gilberto Teodoro --- Salome Ontong (bottom left photo) presented a dance was the guest of honor and aptly represented his father. number while former Senior Deputy Administrator Other past administrators, such as Jose Cuisia, Jr. (top left and International Social Security Association Regional photo) were also given tribute. Celebrities Julius Babao Director, Atty. Hector B. Inductivo (top right photo) and Cristine Bersola-Babao hosted the event. Other past sang for his colleagues. The SSS Chorale Society (bottom officials shared their talents with a dance number from lower left photo), entertained the guests while retirees former Senior Deputy Administrator Mauricio Rivera and from the Public Affairs pose with VP Marissu G. Bugante wife Leticia (bottom left photo) while former Medical (2nd from right, center bottom photo) and former NCR Director Leticia Palma (center seated, bottom right photo) North Cluster AVP Melocena I. Deniña. shared memories with colleagues. Commissioner Jose Sonny G. Matula (bottom right photo) pose with SSS officials and retirees. 45 14 15
  10. 10. 26 PRESIDENT ARROYO GRACES THE SSS 50TH ANNIVERSARY CELEBRATION On September 3, 2007, the country’s chief executive, President Gloria Macapagal-Arroyo (PGMA), was the guest of honor during the anniversary program held at the Ramon Magsaysay Hall. PGMA extolled the remarkable growth of SSS and its various programs that benefited not As part of its Golden Anniversary celebration, the just SSS members, but the country as a whole. During annual SSS Balikat ng Bayan (BnB) Awards had an the program, PGMA was given a framed copy of SSS’ expanded category for individuals and institutions that commemorative stamps, after which she posed for photos were invaluable partners of SSS for the past 50 years. with SSS officials and the Social Security Commission. The awarding ceremonies were held on October 26, 2007 at the Ramon Magsaysay Hall, with the Honorable Vice President of the Philippines Noli De Castro as Keynote Speaker. SSS President and CEO Corazon S. de la Paz-Bernardo and Social Security Commission Chairman Thelmo Y. Cunanan gave out BnB Awards to eleven individuals and twelve companies and agencies in recognition of their assistance to and partnership with the SSS in providing social security protection to Filipinos. Top employers and best performing banks were also honored. Also honored posthumously were former Presidents of the Republic and legislators responsible for the passage of the SSS Law. BALIKAT NG BAYAN AWARDS 45 16 17
  11. 11. CLASSICS AT CHRISTMAS CONCERT CENTRAL VISAYAS TRADE FAIR, CEBU CITY SANDUGO FESTIVAL, TAGBILARAN CITY To close out 2007, the SSS sponsored a musical concert at the Ramon Magsaysay Hall, featuring world-class relationships musicians Maestro Raul Sunico (piano), Antonio Maigue (flute), and Alfonso Bolipata (violin) playing musical Nurturing pieces from the 1950s – the decade of SSS’ birth. A commemorative CD, titled “Kabalikat” and featuring these musical pieces was likewise launched. (Below from left to right photos) Concert pianist Raul with special sectors and the general public Sunico (4th from right) pose with the officers of SSS The SSS thrives on the support and cooperation of its members, as well as of the general public. For this reason, the SSS nurtures its branches in the NCR; President and CEO Corazon S. de relationship with special sectors of its membership, and reaches out to various private sector groups and the greater public. la Paz-Bernardo and Mr. Enrique Bernardo together with NCR branch managers and former NCR Vice President Aurora E. L. Ortega pose for posterity by the concert poster; Flutist Antonio Maigue signs autographs on the SSS On September 5, pensioners were the stars of the show Commemorative CD. at the Pensioners’ Day Program held at the SM Mall of Asia in Pasay City. Over 1,000 pensioners’ from all over (Lower set, from left to right photos) AVP Consolacion Part of the annual anniversary celebration is the giving Metro Manila enjoyed a day of games, dancing, singing, M. Cancio (2nd from left) pose for a souvenir photo of free medical services to members and beneficiaries medical check-ups, and free giveaways. Social Welfare with NCR managers; AVP Josie G. Magana (rightmost) in SSS offices nationwide. This year, on September 4, Secretary Esperanza Cabral, who was the guest of honor, with branch managers; Quezon City Mayor Feliciano SSS medical workers nationwide gave free dental and marveled at the pensioners’ renewed vitality, thanks to Belmonte chat with other concert guests medical services. the SSS Pensioners’ Day Program. SUNICO CONCERT SCENES FREE MEDICAL SERVICES PENSIONERS’ DAY PROGRAM AT SM MALL OF ASIA 45 18 19
  12. 12. ABANTE BISAYA! UNA LECHON FESTIVAL, BATANGAS SA BALITA, CEBU FLORAL FLOAT PARADE, UNIVERSITY AND COLLEGE JOB FAIRS “SERBISYO MUNA” CARAVAN AT VALENZUELA CITY ABANTE BISAYA! UNA SA BALITA, CEBU PAHIYAS FESTIVAL, LUCBAN QUEZON ZAMBOANGA CITY UNIVERSITY AND COLLEGE JOB FAIRS are among the “SERBISYO MUNA” CARAVAN is among the During this Golden Anniversary year, the SSS made regular activities of SSS through which it is able to help commitments of SSS to the Office of the President in its presence felt and its support more pronounced in new entrants to the workforce get a good start in their providing basic government services to the greater public. the special festivals and fiesta celebrations of various social security. The SSS participated in numerous “Serbisyo Muna” provinces. caravans held around the country and through these, was able to help more Filipinos attain social security coverage and services. EMPLOYERS’ DAY aims to serve the needs of member- INFO-COVERAGE DRIVES held throughout the year and PANAGBENGA FESTIVAL, the annual flower festival in PENSIONERS’ DAY is celebrated in the various SSS employers, such as those from Makati and Manila, as well in various cities and municipalities help spread the word Baguio City, got all-out support from SSS, which fielded branches, such as in Camiguin, and every program is well as introduce them to their assigned Account Officers who on the duties and benefits of SSS membership. its own flower-festooned float. attended. will assist them in their SSS-related concerns. PASAY CITY INFO-COVERAGE DRIVE PANAGBENGA FESTIVAL, BAGUIO CITY PENSIONERS’ DAY AT CAMIGUIN SSS EMPLOYERS’ DAY AT MAKATI CITY AND MANILA 45 20 21
  13. 13. EMPLOYERS CONFEDERATION OF THE PHILIPPINES CHAIRMAN CUNANAN MEETS WITH ISRAELI SOCIAL SECURITY OFFICIALS EMPLOYER GROUPS, such as ECOP, are important stakeholders of SSS and their support for the long-term viability of the pension fund is most valued. Taking the in international relations Lead Year after year, officials from pension funds of other developing countries visit the SSS to learn about its programs and systems. The SSS is happy to share its expertise and experience, and thereby forge stronger ties with fraternal organizations abroad. VISITORS FROM OTHER COUNTRIES are always welcome at SSS, especially pension fund officials, such OFW DAY AND JOBS FAIR, held on June 8 at the SSS EXTERNAL SPEAKING ENGAGEMENTS by SSS President as from Tanzania and Ghana, who wish to learn from Livelihood Center, aimed to help first-time OFWs in and CEO Corazon S. de la Paz-Bernardo before various the experience and processes of SSS. The SSS also preparing for their work abroad, and returning OFWs groups, such as this Forum for Women Achievers, help welcomes the forging of agreements with OFW-host and their families in helping them establish alternative focus attention on social security and the work that SSS countries, such as Israel, for the mutual social security livelihood opportunities. does for its members and the nation. protection of their migrant workers. SSS OFW DAY AND JOBS FAIR FORUM FOR WOMEN ACHIEVERS TANZANIAN GUESTS VISITORS FROM GHANA 45 22 23
  14. 14. SSS - I-REMIT MOA FOR OFW PAYMENTS HUMANITARIAN MISSION AT PAYATAS SSS - I-REMIT SERVICE AGREEMENT, signed on November 7, aims to ease and expedite the remittance of SSS contributions and loan payments by OFWs. Such collection agreements with third-party agents Expressing Corporate give members greater convenience and SSS better operational efficiency. Forging for better service partnerships Social Responsibility In order to improve service delivery and ensure wider coverage of its fast-growing membership, the SSS partners with third-party Giving back to society is important to SSS, its management and employees. As the fund celebrates its 50th anniversary, there are even service providers to help in its collection efforts. At the same time, it forges bilateral agreements with OFW-host countries for mutual more reasons to share the blessings of its Golden Year. social security protection of migrant worker SSS - GREECE SOCIAL SECURITY ACCORD is just one of bilateral agreements that the SSS worked on in 2007, with the view of expanding the reach of social security coverage to Greece-based OFWs. SSS, GREECE SIGN SOCIAL SECURITY ACCORD 45 24 25
  15. 15. PGMA GUESTS AT SSS ACCOUNT OFFICERS’ NATIONAL OUTREACH MISSION AT PAYATAS BY SSS VOLUNTEER CORPS AND AFP RESERVISTS SSS LAWYERS’ FORUM CONVENTION SSS VOLUNTEER CORPS, newly established in 2007 SSS ACCOUNT OFFICERS’ CONVENTION, held on SSS LAWYERS’ FORUM, a continuing legal education and composed of SSS employees, conducted its first April 18-20, the event gathered the over 300 AOs of SSS forum wherein SSS lawyers from all over the country get humanitarian mission, in partnership with the Public to chart directions and strategies for better coverage and updated on social security-related jurisprudence and set Affairs Service of the AFP Reserve Command on collection. strategies to ensure wider compliance to the SSS Law. September 22 at Brgy. Payatas, Quezon City. Developing SSS employees’ skills, competence and well-being As the SSS develops further as a pension institution, it likewise grows as an organization of professional, competent and dedicated people. To further improve the skills and competence of its employees, the SSS conducts various training seminars and professional forums, as well as sends exceptional employees to attend international trainings and graduate studies. SSS EMPLOYEES’ DAY was held on September 8 at Island Cove, Cavite, was a day for relaxation and fun competition for hard-working SSS employees. CHRISTMAS CAROL 2007, a continuing gift-giving Employees at the head office took a break from the tradition at SSS, combines music, dances and Yuletide hectic anniversary activities by spending one Saturday, cheer as monetary donations from the SSS workforce are September 8, 2007, in sports activities at the Island Executives listen intently to the lecture on completed given out to deserving charitable institutions. Cove in Cavite. staff work. “CHRISTMAS CAROL 2007” SHARES THE BLESSINGS OF A GOLDEN YEAR TO 20 CHARITABLE INSTITUTIONS SPORTSFEST AT THE ISLAND COVE COMPLETED STAFF WORK TRAINING EMPLOYEE’S DAY AT ISLAND COVE 45 26 27
  16. 16. MARIKINA CITY BRANCH INAUGURATED FAMILY DAY On September 22, 2007, the Members’ Assistance Center at the head office was transformed into a huge entertainment center for SSS employees and their families, where there was something for everyone, young Expanding SSS’ and old. reach and service network In 2007 the SSS continued expanding its branch network throughout the country by opening several new branches and refurbishing existing offices. MEMBER SERVICE OFFICERS (MSOs), here gathered in NEW BRANCH INAUGURATIONS were held in 2007, PLANNING SESSIONS, such as this conducted by the the first-ever MSO Convention, are the frontlines of SSS such as that in Marikina City and in Pasay City, as part Corporate Policy and Planning Office, is crucial in setting to the public it serves, thus, training in customer service of the SSS thrust to make its services more accessible to achievable goals and realistic targets. techniques are crucial. members, especially in Metro Manila. 5-YEAR PLANNING IN TAGAYTAY MEMBER SERVICE OFFICER (MSO) CONVENTION PASAY CITY-ROXAS BOULEVARD BRANCH OPENING 45 28 29