Marcos assures public: State pension funds out in Maharlika

Pia Gutierrez, ABS-CBN News

Posted at May 31 2023 02:23 PM

President Ferdinand R. Marcos, Jr. joins the Government Service Insurance System (GSIS) in celebrating its 86th anniversary and led the inspection of the GSIS Kadiwa para sa Manggagawa at the GSIS head office in Pasay City on Wednesday, May 31, 2023. Rey Baniquet,PNA
President Ferdinand R. Marcos, Jr. joins the Government Service Insurance System (GSIS) in celebrating its 86th anniversary and led the inspection of the GSIS Kadiwa para sa Manggagawa at the GSIS head office in Pasay City on Wednesday, May 31, 2023. Rey Baniquet,PNA

MANILA — President Ferdinand Marcos, Jr. on Wednesday assured the public that money from state pension funds Social Security System (SSS) and Government Service Insurance System (GSIS) would not be used to seed the Maharlika investment fund. 

Speaking to reporters, Marcos said though it was still up to the SSS and GSIS to invest in the state sovereign fund should they decide that it was a good investment.

“We will not use it as a seed fund but if the pension fund, which the pension funds do, is they invest. If the pension funds decide that the Maharlika fund is a good investment it is up to them if they will invest in it,” said Marcos. 

“Not only pension funds, but corporations. Yung mga fund yan lang ang ginagawa nila, pinapalaki nila ang pera nila, para meron silang ibibigay," he added. 

"The GSIS precisely what they have been doing is making sure that they are very solid and stable so that all the payments that they will make they will give out," he said. 

This came after the Senate adopted its version of the Maharlika Fund Bill with an amendment that prohibits state pension and insurance funds from investing in the proposed sovereign wealth fund.

Finance Secretary Benjamin Diokno earlier said that the board of state pension agencies "should not be precluded" from investing in the Maharlika. 

GSIS President Wick Veloso, meanwhile, said that they would merely abide with the decision of the lawmakers regarding the Maharlika Investment Fund.

"Hindi ko na alam kung ano pang mga diskusyon ang nangyayari sa mga bagay na yan. Iisa lang ang gagawin natin, kung ano po ang desisyon ng mga mambabatas sapagkat sila ay nakikinig sa ating taumbayan, kung ano ang gusto ay yun din ang susundin natin," told reporters. 

"So kami po ay naka-patnubay lang kung ano ang mabibigay na direksyon sa amin,” he said. 


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