SSS to improve collections, develop prime property to raise funds

ABS-CBN News

Posted at Nov 02 2017 04:11 PM

MANILA - The Social Security System said Thursday it was looking at improving collections and developing prime properties, as it seeks more funding for a pension increase.

If the SSS generates enough income from 5 properties in Pasay, Quezon City, Makati and Bonifacio Global City, it may no longer need to increase contributions, the fund's chairman, Amado Valdez, told DZMM.

The SSS received proposals for its 6,000-square meter property in Global City. The 5-hectare property on the corner of East Avenue and EDSA requires a master plan, which will include a 3 to 5 level basement parking, he said.

Proposals to develop a property along Ayala Avenue in Makati is under review and may be the first to be completed before President Rodrigo Duterte's term ends, Valdez said.