sss funds will be given to the governmnt?

[salbahis]

---

ok what do you call them?

-the one who contributes in sss are working in not working in government like private schools,hospitals,etc.

thanx for your info...

SSS caters private sector where gsis cater govt sector and pag-ibig is both since it's optional again they are gocc 100% govt

govt portal on labor & welfare - http://www.gov.ph/cat_labor/default.asp

[salbahis]

This must be the reason...

SSS money in stimulus package won’t be squandered - Palace

MANILA, Philippines — Malacanang yesterday said Social Security System (SSS) members need not worry because the pension fund’s money to be used in the national government’s economic resiliency package won’t be squandered.

Executive Secretary Eduardo Ermita gave the assurance amid fears that the plan could put the pension fund for private sector employees in jeopardy.

“(It is) guaranteed by government, (and) there is nothing illegal or unlawful about it," said Ermita, noting that the SSS charter authorizes its officials to invest 30 percent of its reserves, which is currently about P200 billion.

The government has said it was tapping a total of P30 billion from Government Service Insurance System (GSIS) and SSS for the stimulus package, eliciting charges that it was diverting the money of public and private employees for use in government’s infrastructure projects.

Ermita said SSS President Romulo Neri discussed the SSS contribution of P12.5 billion for the P100-billion stimulus package during the Cabinet meeting Tuesday.

“According to Secretary Neri, we can assure the members of SSS that the investment that SSS will put in infrastructure projects of the national government will get a safe return on investment," Ermita said.

He said the money is assured of the usual return on investments if there is a government guarantee that the money to be invested by the SSS would have a fair return for such investment. “So there's nothing to worry about," he said.

Ermita added that the Senate and the House of Representatives are welcome to conduct an inquiry into the SSS contributions to ensure that the use of national government funds are properly looked into.

Earlier, Anakpawis party-list representative Rafael Mariano said instead of snatching the social security fund of workers, Malacañang should use the millions allotted for debt payments and the Presidential discretionary fund to finance its pump-priming projects.

“Our fears have become true. Malacañang positioned Neri in such a lucrative position as SSS president to have free access to the social security fund of workers," Mariano had earlier said.

He urged the House of Representatives to investigate Neri’s decisions as SSS president, saying, “He is acting against the will and interests of SSS members."

He said the SSS funds that Neri pledged to the stimulus package could readily serve the loan benefits of thousands of SSS members who are in constant economic distress.

Neri had been summoned to the House of Representatives to clarify the SSS’ share in the economic stimulus plan. - GMANews.TV

Source: GMANews.TV - SSS money in stimulus package won’t be squandered - Palace - Nation - Official Website of GMA News and Public Affairs - Latest Philippine News - BETA

Other Related:

Social Security Act of
1957 - R.A. 1792

[leo_trams]

This must be the reason...

SSS money in stimulus package won’t be squandered - Palace

MANILA, Philippines — Malacanang yesterday said Social Security System (SSS) members need not worry because the pension fund’s money to be used in the national government’s economic resiliency package won’t be squandered.

Social Security Act of
1957 - R.A. 1792

heheheh...so ila gyud diay to gi squandered ang kwarta sa ubang ahensiya no?
dili nila i-squander...pero hapit na eleksyon.
tingalig after election...mo declare kalit ug bancruptcy ang SSS...hahahaha
unya mahibulong dayun kunohay ta ug ngano?
mag senate investigation na pud..
si Neri dili na pud motingog. hahhahaha

maypa adto na lang na ibutang sa bangko ang atong SSS contribution no?
insured pa ug 250,000....


.

.

[salbahis]

SSS will not be bancrupt, as long as naa pay remittance sa OFW... FYI... SSS once almost (almost lang) bancrupt.. due "salary loan" nga wala bayri sa una... mao nga nag offer sila og amnesty program nga bahalag way interest basta ma bayran lang... beside you can only reap the benefit sa SSS inig retire na nimo or mag loan and sick leave... AFAIK our money is insured i just don't know how much...

@leo_trams

here we go again... naa pay mo raise sa flag?

[dodongnaki]

neri's SSS and gloria's stimulus package = POCKET! ambot kinsa nga pocket basta pocket gyud! pocket money ni gloria inig stepdown niya kong dli madayon ang cha-cha.

[poisontree]

possible magamit ni s gov't.. the fact that neri is now the head .. nya kana sya questionable iyang credibility, i don't understand why after so many controversies gloria decided to put him there..

and i'm so worried for that sss funds. gikapuyan, glisod jud pangita mga taw pra mkacontribute anang sss. unta mkarealize ang gov't, f kung naa jud sla plans to use it, use it wisely..

[cyrus-kanca]

since when the gov't use the people's money wisely maybe 30% cguro magamit wisely and the other 70% hhhmmmmm...

[salbahis]

daghan sad diay mo raise ug flag hehehehehe... cge pa raise pa basin naa pa diha...

[nerds2]

Opsss..... wrong!!!!, govt na siya 100% they are called GOCC or Govt Owned and Controlled Corporation preha sa GSIS & Pag-Ibig, ang part owned lang nila is AFAIK kanang Landbank, PNB ug SMC ug uban pa...

I'm sorry for that. i didn't do a research before posting. that was just i've heard before.