Economic stimulus funds

Philippines
January 30, 2009 7:17am CST
The Social Security System (SSS) would be allocated 12.5 billion pesos for the economic stimulus funds. I was upset when I heard in the news. Maybe it's because I am not sure where the funds will be allocated or maybe I just don't trust the new head of SSS. What do you think?
1 person likes this
2 responses
@eichs1 (1934)
• Philippines
30 Jan 09
With that ball-less head... yes you are right. The purpose maybe noble but who will get the funds and for what? For the terminated employees? Does SSS lend loan to their unemployed members nowadays? Do the employed members need the fund? This is very suspicious move more so that election fever is hyping. We haven't forgotten the ZTE and Hello Garci scams.
• Philippines
30 Jan 09
Funny isn't it. The SSS funds belongs to employees of the private sector. Why should they commit funds to a government stimulus package? I didn't GSIS contibuting to the stilulus funds? I also read that the proposal was suggested by Neri. It makes your realy wonder doesn't it? Thanks for the response
@eichs1 (1934)
• Philippines
30 Jan 09
And we also missed to add that the government is gearing up to bail out the pre-need industry though the sector's President clearly stated that there funds are still stable. The industry is just afraid that if the situation continues or worsens, they will will not have a profitable operation in coming years. Argh.... it's getting "weirder" here, really.
• Philippines
2 Feb 09
You got that right. It won't be good for their business if they admit that their having problems. But in the news, pre-need companies are offering buy back schemes because they cannot meet their customers needs Thanks for the response.
@tryxiness (4548)
• Philippines
17 May 09
I have to agree with this. The nearing election time and with the presence of corrupt officials, I guess, as private citizens we should protect the savings we have invested in SSS.