SSS underpaid 171 pensioners by P3.4 M in 2014 – COA

MANILA, Philippines - Nearly 200 pensioners got less than what they were supposed to receive last year after the Social Security System (SSS) made incorrect computations.

The Commission on Audit (COA), in a 2014 report released Thursday, said at least 171 retirees were paid less than what they were entitled to, an amount which totaled P3.406 million.

State auditors reported that the error was due to the incorrect computation of the credited years of service (CYS) and the average monthly salary credit (AMSC) of the beneficiaries.

 “The incorrect computation of the retirement pensions was due, among others, to the lumped member contributions for CY 1985-1989 that were not posted to the individual member’s ledgers thus not considered in the computation for CYS. It further resulted in the underpayment of retirement pensions,” the audit team explained.

State auditors said the SSS should institute appropriate action for the immediate release of the unpaid amount as they also directed the agency to use only the accurate AMSC and CYS in the processing of retirement benefit claims.

The SSS management said it would rectify the error and immediately pay the 171 pensioners the amounts not given last year.