MANILA, Philippines - The Social Security System's prime Bonifacio Global City property in Taguig has attracted big property developers and an insurer.
According to industry sources, real estate giants SM, Robinsons Land, Filinvest Land, Anchor Land, the Gaisano group and top insurance firm Philam Life have signified interest in the 8,300-square meter property also known as Block 56.
The vacant lot has a minimum floor price of P2.24 billion, representing a 164-percent return from its acquired value.
Located along McKinley Parkway between 10th and 11th Avenues in Bonifacio Global City (BGC), Taguig, the property is also near commercial areas SMX Convention Center, SM Aura and Serendra.
Availability of big lot areas within BGC is limited, as it is now emerging as the country's newest financial district making it attractive to property developers keen on expanding its footprint there.
Philam Life earlier said, it is allocating a bigger portion of its investment portfolio in real estate. It now leases office space within BGC, after selling its Manila City headquarters last year.
The state pension fund hopes to ride on the booming real estate market and unlock the best possible value for the property sale.
“This is the most opportune time to sell, while land prices are at peak levels. Also, the ongoing developments in the BGC area created a high demand for land where there's a short supply of sellers,” SSS president Emilio de Quiros Jr. said earlier.
A pre-bid conference for interested parties is scheduled on July 22, while the submission of bids is on September 4.
It hopes to announce the winning bidder by October.
The SSS acquired the property in 2003, one of two blocs in the BGC back in 2003 for P850 million.
To date, it has an estimated P20 billion worth of total real estate assets.
source: www.abs-cbnnews.com
Showing posts with label Social Security System. Show all posts
Showing posts with label Social Security System. Show all posts
Wednesday, July 3, 2013
Wednesday, September 5, 2012
SSS member contributions up 9% in H1
MANILA, Philippines - The Social Security System (SSS) collected P46.68 billion in contributions from its members in the first half of the year, 9% higher than P42.72 billion a year ago.
In a statement, SSS president and CEO Emilio de Quiros Jr. said 39% of the total contributions were from over-the-counter payments at SSS accredited banks, which collected P18.12 billion in the 6-month period.
"Other popular payment channels for contributions are SSS branch tellers and the SSSNet facility, which enables companies, especially those with hundreds of employees, to pay monthly premiums conveniently and accurately via the internet," he said.
SSS said premiums from employees and household helpers as of end-June reached P40.66 billion, a 9% year-on-year increase from P37.23 billion.
Contributions remitted by overseas Filipino workers jumped 14% to P1.25 billion during the period.
Self-employed members, such as entrepreneurs, professionals, informal sector workers, farmers and fisherfolk, contributed P2.5 billion, a 6% increase from the previous year.
Premiums from voluntary members went up 11% to nearly P2.3 billion.
De Quiros urged members to enroll in the SSS website to gain access to their records such as membership data and posted contributions.
"By giving members open access to their records through the website, they can monitor discrepancies and refer them to us for correction early on, instead of waiting until retirement age to amend inaccuracies that can affect the processing of their benefits," he said.
source: abs-cbnnews.com
Wednesday, May 9, 2012
Only SSS members earning P10,000 may borrow from new education fund
Only members earning up to P10,000 a month can dip into the Social Security System’s new P7-billion educational loan window.
"The program aims to boost the country’s socio-economic growth by developing a larger pool of competent professionals and skilled workers” said SSS officer-in-charge Edgar Solilapsi.
“It will also help workers upgrade their knowledge and skills to secure better jobs and provide a brighter future for their family," he added.
"The beneficiaries can be the SSS members themselves, legal spouses or children. Unmarried members can use the loan for the education of their siblings," Solilapsi said.
Members can take out up to P15,000 per semester or trimester for college courses and P7,500 for a vocational or technical course–which must be a degree program of at least two years or more.
Loan releases will be made payable to the school that is accredited by the Commission on Higher Education or the Technical Education and Skills Development Authority.
"The loan amount shall be funded on a fifty-fifty basis from the national government and SSS, said Solilapsi.
The SSS portion carries an interest rate of 6 percent a year based on diminishing principal balance until fully paid, while the government share has zero interest. —VS, GMA News
source:gmanetwork.com
"The program aims to boost the country’s socio-economic growth by developing a larger pool of competent professionals and skilled workers” said SSS officer-in-charge Edgar Solilapsi.
“It will also help workers upgrade their knowledge and skills to secure better jobs and provide a brighter future for their family," he added.
"The beneficiaries can be the SSS members themselves, legal spouses or children. Unmarried members can use the loan for the education of their siblings," Solilapsi said.
Members can take out up to P15,000 per semester or trimester for college courses and P7,500 for a vocational or technical course–which must be a degree program of at least two years or more.
Loan releases will be made payable to the school that is accredited by the Commission on Higher Education or the Technical Education and Skills Development Authority.
"The loan amount shall be funded on a fifty-fifty basis from the national government and SSS, said Solilapsi.
The SSS portion carries an interest rate of 6 percent a year based on diminishing principal balance until fully paid, while the government share has zero interest. —VS, GMA News
source:gmanetwork.com
Tuesday, April 10, 2012
SSS announces new amnesty on loan penalties
MANILA, Philippines -- The Social Security System (SSS) said employees, self-employed workers, and voluntary members with overdue loans can settle their unpaid principal and interest without paying the full amount of penalties under a new amnesty program that started April 2.
SSS President and Chief Executive Officer Emilio de Quiros Jr. said the amnesty "differs from SSS loan penalty condonation programs in the past" and its terms and requirements for applicants will depend on the type of delinquent borrower.
"SSS will waive 100 percent of penalties of qualified applicants whose loan delinquency was not their fault, such as members whose employers failed to remit their amortizations to SSS despite deducting loan payments from their salaries," he said.
Members must have at least three contributions within the last six months before the month of application and present proof of deducted loan amortizations such as pay slips, company certification, and notarized affidavits to be eligible for full condonation of penalties.
"They can pay their loan principal and interest in full, or avail of a three-year installment payment scheme at an annual interest rate of three percent," De Quiros said, adding that SSS will take legal action against employers that fail to remit their workers’ deducted amortizations.
SSS will also offer amnesty to beneficiaries of deceased borrowers who will file their death claim applications within the availment period. SSS will waive 100 percent of penalties and the member’s delinquent loan principal and interest will be deducted from the death benefit.
De Quiros said delinquent borrowers who paid at least three amortizations can also apply for amnesty, provided that they have remitted a minimum of three monthly contributions within the last six months prior to the month of application.
"Members with at least three paid amortizations will have 90 percent of their penalties condoned if they pay in full. Those who will pay in monthly installments over three years at a three percent annual interest rate will have 80 percent of their loan penalties waived," he said.
Borrowers filing total disability or retirement claims within the availment period will have 50 percent of their penalties condoned under the amnesty program. The outstanding loan balance and remaining penalties will be deducted from their retirement or disability benefit.
"The deadline of application for the amnesty program will be on September 30, but beneficiaries of borrowers who passed away without settling their delinquent obligations can apply until March 30 next year," De Quiros said.
The amnesty program covers overdue salary, calamity, emergency, educational, study-now-pay-later, stock investment and privatization fund loans.
source: interaksyon.com
SSS President and Chief Executive Officer Emilio de Quiros Jr. said the amnesty "differs from SSS loan penalty condonation programs in the past" and its terms and requirements for applicants will depend on the type of delinquent borrower.
"SSS will waive 100 percent of penalties of qualified applicants whose loan delinquency was not their fault, such as members whose employers failed to remit their amortizations to SSS despite deducting loan payments from their salaries," he said.
Members must have at least three contributions within the last six months before the month of application and present proof of deducted loan amortizations such as pay slips, company certification, and notarized affidavits to be eligible for full condonation of penalties.
"They can pay their loan principal and interest in full, or avail of a three-year installment payment scheme at an annual interest rate of three percent," De Quiros said, adding that SSS will take legal action against employers that fail to remit their workers’ deducted amortizations.
SSS will also offer amnesty to beneficiaries of deceased borrowers who will file their death claim applications within the availment period. SSS will waive 100 percent of penalties and the member’s delinquent loan principal and interest will be deducted from the death benefit.
De Quiros said delinquent borrowers who paid at least three amortizations can also apply for amnesty, provided that they have remitted a minimum of three monthly contributions within the last six months prior to the month of application.
"Members with at least three paid amortizations will have 90 percent of their penalties condoned if they pay in full. Those who will pay in monthly installments over three years at a three percent annual interest rate will have 80 percent of their loan penalties waived," he said.
Borrowers filing total disability or retirement claims within the availment period will have 50 percent of their penalties condoned under the amnesty program. The outstanding loan balance and remaining penalties will be deducted from their retirement or disability benefit.
"The deadline of application for the amnesty program will be on September 30, but beneficiaries of borrowers who passed away without settling their delinquent obligations can apply until March 30 next year," De Quiros said.
The amnesty program covers overdue salary, calamity, emergency, educational, study-now-pay-later, stock investment and privatization fund loans.
source: interaksyon.com
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