SOCIAL Security System (SSS) President and Chief Executive Officer Emilio de Quiros Jr. on Tuesday admitted that his agency continues to grant huge perks to its officials despite a public outcry over the more than P1 million performance–based bonuses they gave themselves in 2012.
De Quiros justified the granting of the fat bonuses by claiming that it is not bad and that it was approved by the governing council of the government-owned and controlled corporations (GOCCs).
The official, who was a guest at the Bulong Pulungan media forum at Sofitel Hotel in Pasay City, added that the bonuses depend on the performance of each official
“It depends on the performance of the officers. It depends on the attendance of the commissioners. That’s the rule approved by our mother institution GCG,” he said.
The GCG in its memorandum circular 2012-14 said GOCCs are entitled to incentives for good performance, good governance conditions, and when they have paid taxes and dividends to government.
De Quiros admitted that SSS officials could receive as high as P1 million in bonuses for this year just like in 2012.
SSS officials were severely criticized last year after it was discovered that they granted themselves hefty bonuses in 2012 despite their poor performance that prompted a House inquiry.
Lawmakers described the act as reprehensible, noting that while they gave themselves big perks, benefits for SSS members were not given due to “insufficient funds.”
De Quiros said the SSS in the last 10 years has been earning a net revenue of P8 billion a year but they increased it to an average of P31 billion a year during the past two years.