INQUIRER PHOTO / NINO JESUS ORBETA
MANILA, Philippines — The Social Security System (SSS) posted a 27.8-percent drop in net income in the first half as a surge in benefit payments and other expenses outpaced growth in member contributions and investment income.
Latest financial statements released by the state-run pension fund showed net income fell to P48 billion as of end-June from P66.5 billion in the same period last year.
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