Photo Release

Risa: No pension funds for Maharlika: Sen. Risa Hontiveros questions why the provision that may justify the use of pension funds from both the Government Service Insurance System (GSIS) and Social Security System (SSS) still exists in the Senate version of the "Maharlika Investment Fund Act" despite its removal from its counterpart bill in the House of Representatives. During the resumption of the plenary debates on Senate Bill No. 2020 Monday, May 29, 2023, Hontiveros said the Senate might be used in "opening the Pandora's box" that might lead to the loss of pension funds of GSIS and SSS members. "Dear colleagues, I would really rather not have this section at all. We know that the use of SSS and GSIS funds is removed from the House version. But, this looks like we are opening a backdoor. Can you assure the body and the public that SSS and GSIS members will not lose their hard-earned pension money, in the same manner that even some of the best-managed sovereign funds lost hundreds of billions recently?" the deputy minority leader said in a mix of English and Filipino. Hontiveros also appealed to her colleagues, especially the members of the majority, to study the provision in question and help remove it from the final form of the measure. (Senate PRIB photos)