Roy Tang

Programmer, engineer, scientist, critic, gamer, dreamer, and kid-at-heart.

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If SSS is so successful and stable

It’s not. The current actuarial life of the SSS is only up to 2039, and they have had to increase required member contributions in order to ensure the fund lasts longer than that. (Citation: http://business.inquirer.net/129887/sss-revives-proposal-to-hike-contributions-to-ensure-benefits-in-perpetuity)

Adding more benefits like college plans would require even larger contributions (educational plans are typically expensive). Even if it was optional, I suspect that only a small percentage of the SSS membership would be able to afford it. And seeing how private business (which are supposedly more efficient/streamlined than government procedures) were unable to keep up with the rising costs of education, it seems unlikely for it to be viable for the SSS.

Posted by under notes at #Philippines
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