SSS reiterates explanation on accounting net loss for 2021; pension fund gains P28-B from operations

The Social Security System (SSS) on Monday reiterated that the accounting net loss shown in its 2021 audited financial statements is primarily due to the presentation of policy reserves in its balance sheets, which does not affect its current cash flow and funding situation. “In 2021, we recorded an P872 billion change in policy reserves […]