Philippines. SSS selling more properties to fund pension hike
The state-run pension fund Social Security System (SSS) will sell over P3.45 billion in properties to augment its revenues amid the implementation of the pension hike approved by President Rodrigo Duterte.
SSS president and chief executive officer Emmanuel F. Dooc said most of the real estate properties to be auctioned off beginning this year until 2022 include “dacióned” and foreclosed condominium units, houses as well as memorial lots.
“Most of these properties identified for sale were paid to the SSS through ‘dación pago’ or payment in kind due non-remittance of contributions and non-payment of loans with the SSS,” Dooc said.
Read full content: Business Inquirer
