MANILA, Philippines – The controversial bill seeking to establish a sovereign wealth fund will no longer source funding from the Social Security System and the Government Service Insurance System , amid backlash from various groups who oppose the idea of the government investing pension funds.
The decision came after Speaker Martin Romualdez and other House leaders met with economic managers to reevaluate the proposal. “It is good that we conducted public consultations on the proposal. Concerns of the public, especially of Filipino workers who submit their GSIS and SSS contributions monthly, were validated,” Quimbo said on Wednesday, December 7.
“The discussions on the amendments shall be taken upon by the committee on appropriations on Friday upon the instruction of Speaker Martin Romualdez,” she added.
When an economist is eaten by the system she starts pretending to do economics but actually only acts as a garden variety traditional politician.
Its working. Keep on hounding them. Hands. Off. Our. Pensions!
Kung di pa tayo nagsalita!
Kayong mga politicians ang mabubura sa politics kapag pinilit nyo pang galawin public funds ng SSS at GSIS. Of course babawian namin kayo pag dating ng botohan. At kung sino man nagpasimuno nyan sa inyo. Wala votes next election ahahahhaa
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GSIS vows transparency, investment protection in proposed Maharlika fundThe Government Service Insurance System gave assurance that there will be transparency in the proposed Maharlika Investment Fund and that investments that will be made through it would be protected. | DYGalvezINQ DYGalvezINQ The independent directors are chosen by presidential appointees, making the independent directors pass-through presidential appointees. There is nobody on the board, or advising the board, that isn’t directly or indirectly employed by the president. DYGalvezINQ DYGalvezINQ
Source: inquirerdotnet - 🏆 3. / 86 Read more »
GSIS chief says Maharlika Wealth Fund a long-term investmentGSIS president and General Manager Arnulfo 'Wick' Veloso on Tuesday branded the proposed Maharlika Wealth Fund as a 'long-term investment.' Veloso said this would contribute to the goal of the Marcos administration towards nation-building. invest it where? Nation-building? Baka personal bank account building. Ano ba yan!
Source: gmanews - 🏆 11. / 68 Read more »
INQToday: Proposed Maharlika Fund would no longer include SSS, GSIS funds — QuimboProposed Maharlika Fund would no longer include SSS, GSIS fund — Quimbo
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Maharlika Fund bill co-author eyes House 2nd reading nod before Christmas breakThe proposed Maharlika Wealth Fund bill is likely to pass its second reading at the House of Representatives before the end of the month, a House leader said Wednesday.
Source: gmanews - 🏆 11. / 68 Read more »
Tax provisions of Maharlika Fund OK’d by House panel; Salceda assures benefits to pensionersThe House tax panel approved on Monday, Dec. 5, the tax provisions of the Maharlika Investment Fund Act, which will ensure that tax benefits go to the investment fund rather than line the pockets of executives and other officials. kwento mo sa pagong NoToMaharlikaFund
Source: manilabulletin - 🏆 25. / 51 Read more »
Laws, SC rulings that say SSS, GSIS funds are privateRetired SC senior associate justice Antonio Carpio said SSS and GSIS funds cannot be used for non-members of the systems, adding that it is unconstitutional to take private property for public use. Having seen the goods, the thieves will simply find another way to get in...they have accomplices in their pocket....the confidential funds, remember...? can u make a side by side comment of GSIS, Landbank, SSS and the names of these directors vs the comment of BSP and SC and all private businesses against to this fund? Kaso takot komontra mga tongressman at senador kaya puro yes sir lng hahaha
Source: rapplerdotcom - 🏆 4. / 86 Read more »