This refers to Rudy Coronel’s letter titled “Bugante’s ‘amazingly wrong’ arithmetic” (Opinion, 5/19/14).
We thank Coronel for pointing out the error in comparing his total contributions of P28,333.50 as against his received pensions totaling P510,364.80. As he had stated, the pension releases were 18 times his paid contributions, and not 160.
What we just wanted to point out is that pensioners receive benefits that far exceed the total contributions that they have paid. If Coronel believes that his accumulating benefit payouts—which to date are already 18 times more than his total contributions—are still not a good return on his SSS savings, then we willingly heed his call to just agree to disagree.
—MARISSU G. BUGANTE,
vice president,
Public Affairs and
Special Events Division,
Social Security System