Philippine social security fund to experiment with stock market

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SSS cardThe Philippines state-owned pension fund for private employees, Social Security System (SSS), said it wants to invest more in Manila-listed blue chips as it expects rising share prices in the future.

The fund is eyeing “telecoms, banking, finance and power,” SSS commissioner Diana Pardo-Aguilar was quoted as saying by the Philippine Star on July 9. The stock market would remain “a significant part” of the fund’s list of investment facilities, she added.

The funds for new stock investments would stem from the sale of SSS’s prime property, an 8,300-square-meter lot in Bonifacio Global City in Manila. The minimum bid price has been set at around $51 million.

The SSS is a social insurance programme for private employees in the Philippines launched in 1957. It is a government agency that provides retirement and health benefits. Members of the SSS can also make ‘salary’ or ‘calamity’ loans.

Employees of the Philippine National Government do not contribute to SSS but rather have their own system, the Government Service Insurance System or GSIS.

With regards to a public security fund investing in stocks some critics have said that such funds should not speculate on the capital market – apart from buying investment-grade bonds – as risk are “too high.”

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Reading Time: 1 minute

The Philippines state-owned pension fund for private employees, Social Security System (SSS), said it wants to invest more in Manila-listed blue chips as it expects rising share prices in the future.

Reading Time: 1 minute

SSS cardThe Philippines state-owned pension fund for private employees, Social Security System (SSS), said it wants to invest more in Manila-listed blue chips as it expects rising share prices in the future.

The fund is eyeing “telecoms, banking, finance and power,” SSS commissioner Diana Pardo-Aguilar was quoted as saying by the Philippine Star on July 9. The stock market would remain “a significant part” of the fund’s list of investment facilities, she added.

The funds for new stock investments would stem from the sale of SSS’s prime property, an 8,300-square-meter lot in Bonifacio Global City in Manila. The minimum bid price has been set at around $51 million.

The SSS is a social insurance programme for private employees in the Philippines launched in 1957. It is a government agency that provides retirement and health benefits. Members of the SSS can also make ‘salary’ or ‘calamity’ loans.

Employees of the Philippine National Government do not contribute to SSS but rather have their own system, the Government Service Insurance System or GSIS.

With regards to a public security fund investing in stocks some critics have said that such funds should not speculate on the capital market – apart from buying investment-grade bonds – as risk are “too high.”

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