LCMC most delinquent payer in northern Luzon, says SSS

By Antonio Alvarez Sagud Jr.

MANKAYAN, Benguet – The Social Security System reported the Lepanto Consolidated Mining Corp. is their most delinquent member in northern Luzon.

Luis Olais assistant vice president for SSS Luzon North said in Baguio City that LCMC started being delinquent in the early period of 2004 with an unpaid contribution of P11 million in principal which they settled but with a penalty of P13 million.

LCMC in 2007 was again accused of delinquency amounting to at least P50 million in principal and P35 million as penalty.

Olais said even if LCMC paid an insufficient 15 percent of their total delinquency which is almost P8 million, this still leaves the company with P42 million in principal which is subject to reconciliation and P35 million in penalty.

He added the LCMC coordinated with the SSS and both parties agreed to resolved the problem.
Meantime, Olais reported the number of other employer remiss other than LCMC case totals 319 for Northern Luzon with 13 cases reported for Baguio mostly educational institutions.