Lawmaker questions SSS officials' P10M bonus
MANILA - Bayan Muna Rep. Neri Colmenares on Monday criticized the Social Security System's (SSS) Board of Directors for approving more than P10 million in bonuses for its members and P276 million for other employees of the state-run pension fund.
This, as the firm is set to raise its membership premium because it does not have enough funds to cover retirement and other benefits beyond the year 2039.
"Ang kakapal naman ng mukha ng Board of Directors ng SSS," Colmenares said in a statement. "Hirap na hirap na nga ang mga pensioners nila sa napakababang nakukuhang pension, isama pa na dagdagan ang singil sa premium tapos ngayon ay kumukubra pa sila ng napakalaging mga bonus. Hindi ba sila nahihiya?"
He accused President Aquino of making it look like SSS is in dire straits.
"But, fact is, SSS has the figures which do not call for a premium increase: their assets and investments which amounted to P345 billion in 2010; their yearly income of P21-23 billion; the collectibles of P8.5 billion; and the perks and bonuses that the SSS management receive which should be subjected to scrutiny," Colmenares said.
"Recall the P200 million that SSS executives received in 2010, kailangan pa nga bawiin yun, tapos ngayon ay P286 million naman. Let's not even mention the overcharging they did for members' loans in 2011. It is the efficiency of the SSS management that really has to be increased to prolong the fund life of SSS," he added.
Presidential spokesperson Edwin Lacierda, however, pointed out that bonuses paid out to members of boards of directors or trustees of government corporations are subject to certain requirements.
Lacierda said just because a government corporation earned money, it doesn't mean the director or trustee gets a bonus.
For example, the directors and trustees must have 1st attended 90% of the meetings of the company's board.