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Social Security System (SSS) Quezon City.  Jonathan Cellona, ABS-CBN News

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SSS main office

Jekki Pascual

ABS-CBN News

MANILA — Social Security System (SSS) President and CEO Rolando Macasaet said on Tuesday the pension fund is not looking to put money in high-risk investments.Macasaet said it is possible for the SSS to invest in projects that the Maharlika Investment Corporation (MIC) is also investing in, but the state-run pension fund will only put money in potentially profitable and already existing projects.“Whatever Maharlika invests in, if we feel we can invest, we can also invest. There are projects that we can invest in. There are projects we can’t invest in,” said Macasaet.At a press briefing in Taguig, Macasaet asserted that SSS has strict rules on where it will invest.“Pension fund kami. Hindi kami development fund, emphasize ko yun. Ang pera ng SSS hindi ko pwede ilagay sa mga high risk investments,” he said.(SSS is a pension fund, not a development fund. I want to emphasize on that. The SSS fund can’t be placed in high-risk investments.)SSS Commissioner Diana Pardo-Aguilar also said that whatever project the SSS will put their money on should be studied carefully.“We have to exercise extraordinary diligence in the performance of our investment functions,&quot; she said. The SSS charter requires a company to have a 3-year profitability track record for the pension fund to invest in it, she said.Macasaet said they will do ‘brownfield investment’ or invest in already existing projects, as opposed to ‘greenfield investment’ where one will build a new project.One example he cited is if he is invited to invest in existing expressways, that would be better than investing in a soon-to-be-constructed toll road.SSS and GSIS were initially tapped to be among the capital sources of the MIC, but they were later excluded following objections from some sectors who said it was too risky for the state-run pension funds to invest in a new corporation.

Social Security System (SSS) President and CEO Rolando Macasaet said on Tuesday the pension fund is not looking to put money in high-risk investments.

Social Security System (SSS) President and CEO Rolando Macasaet said on Tuesday the pension fund is not looking to put money in high-risk investments.

SSS clarifies Maharlika 'co-investing', says fund not for 'high-risk investments'

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SSS clarifies Maharlika 'co-investing', says fund not for 'high-risk investments'

Jekki Pascual,

ABS-CBN News

Published May 14, 2024 07:01 PM PHT

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MIC

Maharlika Investment Corporation

SSS

Social Security System

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