The House of Representatives has balked at plans to tap the Government Service Insurance System (GSIS) and the Social Security System (SSS) as contributors to the supposed P275-billion Maharlika Wealth Fund (MWF). Marikina City 2nd district Rep. Stella Quimbo (Ellson Quismorio/ MANILA BULLETIN)...
The House tax panel approved on Monday, Dec. 5, the tax provisions of the proposed House Bill (HB) No. 6398, or the Maharlika Investment Fund Act, which will ensure that tax benefits go to the investment fund rather than line the pockets of executives and other officials. Albay 2nd district Rep....
Some senators on Monday, December 5 have expressed their reservations about the propsoed Maharlika Investment Fund (MIF) noting it is a “high-risk, high reward” endeavor. “Thus, there should be safeguards and limitations on investment into riskier endeavors,” Senator Sonny Angara, chairman...
Pensioners of the Government Service Insurance System (GSIS) and Social Security System (SSS) will receive this week their Christmas cash gifts. These amounts are composed of the 13th month pay and their regular monthly pensions for pensioners of the SSS. Meanwhile, the state pension fund for...
P3PWD Party-list Rep. Rowena Guanzon warned against the creation of the controversial P275-billion Maharlika Wealth Fund (MWF) by the Marcos administration, likening it to the mythical Tallano gold said to be in possession of the Marcos family. P3PWD Party-list Rep. Rowena Guanzon (Photo from Rep....
Once again, Albay 2nd district Rep. Joey Salceda felt compelled to respond to a known personality's comment on the proposed P275-billion Maharlika Wealth Fund or MWF. (MANILA BULLETIN) The latest personality happens to be former Supreme Court (SC) Associate Justice Antonio Carpio, who reportedly...
The Government Service Insurance System (GSIS) and Social Security System (SSS) have set aside P33 billion in Christmas cash gifts for pensioners. The two state-owned pension funds announced on Thursday, Dec. 1, that their respective yearend bonuses to about 3.7 million old-age and disability...
The proposed Philippine sovereign wealth fund (SWF) gained the backing of several top-performing government financial institutions (GFIs) when the measure was tackled Tuesday, Nov. 29 by the House Committee on Banks and Financial Intermediaries. (Mari Gimenez/ Unsplash) The measure, House Bill (HB)...
State-run Social Security System (SSS) has extended the financial assistance to its members and pensioners in areas affected by Severe Tropical Storm ‘Paeng’ until February next year. Michael G. Regino, SSS president and chief executive officer, said their calamity assistance package consists...
State-run Social Security System (SSS) and Rizal Commercial Banking Corp. (RCBC) inked an agreement allowing the the Yuchengco-led lender to issue Unified Multi-Purpose ID (UMID) pay cards to the pension fund’s members. SSS President and Chief Executive Officer Michael G. Regino and RCBC...
The Social Security System (SSS) and the Cooperative Development Authority (CDA) have finalized their partnership for social security protection awareness campaigns. Last Oct. 20, SSS signed a memorandum of understanding (MOU) with CDA formalizing their partnership in ensuring that cooperatives and...
The poor local pension and retirement system will ultimately prevent the Philippines from being a rich country, economist-congressman Joey Salceda opined on Saturday, Oct. 22. (Emil Kalibradov/ Unsplash) “Among the world’s most populous economies, we have almost the worst pension system....
