MANILA, Philippines – President Ferdinand Marcos Jr. said it would ultimately be up to the managers of pensions funds to decide if they should invest in the controversial Maharlika Investment Fund .
“If the pension fund decides the Maharlika Fund is a good investment, it’s up to them if they want to invest in it. So not only pension fund, but corporations.,” said Marcos, who has been promoting the Maharlika fund as one of hisWhether or not the GSIS and SSS – institutions that manage pensions for government workers and private workers – should be allowed to invest in the controversial bill, is among its most contentious points.
Finance Secretary Benjamin Diokno, speaking to reporters on Tuesday, May 30, defended the idea of allowing the GSIS and SSS the option to invest in the fund, “Why would you prohibit [GSIS, SSS from investing]? It’s the decision of the board. While they are presidential appointees, they act in the best interest of the company,” said Diokno.
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