• SSS to invest in infra projects

    0

    THE state-run Social Security System (SSS) expressed interest in public private partnership (PPP) infrastructure investments as it awaits the passage of the Social Security Reform Act of 2017. “SSS is planning to invest in the government’s PPP program which includes participating in road and tollway projects to generate a lifetime income for the pension fund,” said SSS Chairman Amado Valdez in a statement. The pension fund earlier said that it was looking for ways to generate more income, with its higher expenditures amid the approval of the P2,000 pension hike. Citing the Social Security Act of 1997, President and Chief Executive Officer Emmanuel Dooc said SSS can only invest its reserve fund in infrastructure projects, foreign currency-denominated investments, government financial institutions and corporations, housing, private securities, real estate, short- and medium-term member loans. The SSS released about P44.7-billion in the first quarter of 2017, or about 43 percent higher than the P31.3-billon disbursed last year. In the first four months of 2017, SSS member contributions grew by 9.6 percent or P52.18 billion.

    Share.
    loading...
    Loading...

    Please follow our commenting guidelines.

    Leave A Reply

    Please follow our commenting guidelines.