As Ponzi scheme, SSS fund prone to manipulation, exploitation and insolvency

AT the Saturday forum at Annabel’s last Saturday, one of the featured topics for discussion was President BS Aquino’s unpopular veto of the P2,000-peso hike in pensions for some two million SSS retirees.

I raised at the forum, which featured among others  Rep. Neri  Colmenares, principal author of the pension bill, the argument that it is principally because social security is a Ponzi scheme, that the pension fund is prone to easy manipulation and mismanagement, and is finally doomed to eventual bankruptcy.