Book
The bases of insecurity of the social security system: issues, concerns, and reform proposals in the SSS
The alarm is real. The Philippine Social Security System will become insolvent in the year 2015, earlier than what was previously actuarially-determined in the 1995 SSS Actuarial Study. Higher and prolonged unemployment, erosion of worker and employer contributions, and longer life axpectancy, among others, have put SSS under fiscal pressure. With increasing benefits but stagnant contribution rates, the SSS will be facing financial doldrums on the very near future. There is really a clear and present danger of bankruptcy in the SSS
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