the pension fund is looking at options on how the agency can sustain its fund life, and if ever, how much will contributions have to be increased to minimize the effect on paying members.” (21 Jan) Operating just on common sense, it seems important to ask: if there are billions that have yet to be collected in contributions and loans, why is SSS’s foremost concern hiking up contributions?
And shouldn’t the President himself explain what exactly is being done about these uncollected billions?
WHEN the President decided to reject the Social Security System (SSS) pension hike for senior citizens in mid-January, it seemed like a brave act of leadership.
At least that’s how the Palace tried to spin it: look at this President, not caring about the May elections, and deciding to make the unpopular decision of refusing to raise the monthly pensions of our grandparents.
But of course we would rather not talk about the Pag-IBIG Fund as a measure of how reform is possible in GOCCs.
Consequently, the IRF will diminish over the years, eventually reaching zero by the year 2029.” (GMA News Online, 21 Jan) From the same GMA News Report: “SSS Chief Actuary and Senior Vice President George Ongkeko Jr.
Would any of our rich politicos, would Roxas and Aquino – owners of haciendas as they are, and coming from old rich families – would they be able to live off that pension that they insist is all that they can give our grandparents?
The one we silence And of course we would rather not discuss at all the fact of reform in the Pag-IBIG Fund.
But also what one realizes is that this is a measure of matuwid na daan’s refusal to actually affect reforms in GOCCs like SSS, in the same way that it refuses to change the system of revenue collection in an agency like the Bureau of Internal Revenue (BIR).
In lieu of reforms, we are made to imagine that to decide in favor of the people, in favor of our senior citizens, in favor of our workers, would mean sacrificing the future of our government agencies.