He said Lucio Yu Jr., GSIS chief legal officer, and his colleagues were unable to “present a clear picture of the condition of investments made by GSIS to guarantee sound financial position.”
During the briefing, Jenny Lobas, GSIS manager, said the insurer’s fund life would last until 2044 based on cash flow projections, benefits, contribution rates and other factors. “Unlike GSIS, the SSS already imposed an adjustment in membership premium starting January 2021 and has aired misgivings to bills proposing to grant the President the authority to suspend increases in members’ contributions in times of emergency,” Singson said.
Source: Insurance Report (insurancereport.net)
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