Philippine Social Security System 2007 Annual Report
A N N U A L
R E P O R T
SOCIAL SECURITY SYSTEM
Contents 2007 ANNUAL REPORT
Highlights of Operations
(Amounts in Million Pesos)
01 Highlights of Operations 2007
For the Year
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
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
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
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
Investment and Other Income, net
27 Developing SSS Employees’ Skills, Competence and Well-Being Expenditures
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
31 State Auditor’s Report on the Consolidated Financial Statements The 2007 Annual Report cover highlights the
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
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
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
1954 and the happy faces of the beneﬁciaries
of the program represented by a construction
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
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
main ofﬁce building indicating the durability,
52 SSC and SSS Management Directory stability and strength of the institution.
of the President of the Republic of the Philippines
Statement of Mission
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
The 50th Anniversary logo design
highlights the 50 years of SSS’
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
“ 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
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
“ 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
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
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’
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
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).
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
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.
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.
PRESIDENT ARROYO GRACES THE SSS 50TH ANNIVERSARY
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
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
musicians Maestro Raul Sunico (piano), Antonio Maigue
(ﬂute), and Alfonso Bolipata (violin) playing musical
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
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
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
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
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.
in international relations
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
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
give members greater convenience and SSS better
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
PGMA GUESTS AT SSS ACCOUNT OFFICERS’ NATIONAL
OUTREACH MISSION AT PAYATAS BY SSS VOLUNTEER CORPS AND AFP RESERVISTS SSS LAWYERS’ FORUM
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
MARIKINA CITY BRANCH INAUGURATED
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
reach and service network
In 2007 the SSS continued expanding its branch network throughout the country by opening several new branches and refurbishing
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