Two letters on the SSS

Two letters found their way to my mailbox that I am gladly sharing. The first is from Corazon Dela Paz Bernardo, formerly Social Security System (SSS) president and chief executive officer, who bears the distinction of being the first woman to head the country’s biggest state-owned pension fund.

She was plucked from a lucrative private sector position to head the SSS at a time when the management of its funds needed a steady and firm hand to save it from political abuse and shaky investments in the face of local and global economic uncertainties.

Thanks to Cora and the members of her management team at SSS when she took over, a great tragedy for the country’s private sector employees had been averted. While the rescue plan had been only partially carried out, it had given the SSS a precious lease on life.

Here’s Cora’s letter:

“Thanks for your column … in The Star. It’s a good feeling to know that there are still people who continue to appreciate what we had worked hard to do at SSS.

“Please note, however, that at no point did I demand that I be renumerated at a level comparable to what I received while in the private sector. However, I offer no excuses when I accepted income legally and morally paid to me then.

Helping the country

“At the risk of being sentimental, I owe it to Pat and our family to preserve the name he had left with us. He, himself, gave his all to help our country “at a time when he was most needed” (quotation from Pres. Cory when she visited his wake). I could do no less, but I’m glad to still be alive.

“I continue to hope that SSS members would recognize the hard work and dedication that the people of SSS unselfishly put in to serve them. They love the institution and its service orientation.

“I experienced all these during my seven difficult years with them. They even had agreed to defer receiving certain benefits that were due them, for several years, when that was what we needed to remain viable. We really owe the successes we achieved then to their selflessness and expertise.

“I was not a social security expert when I started but I was elected President of the Swiss-based ILO-affiliated International Social Security Association (ISSA) two years from joining SSS and served for two terms of three years each. I was its first non-European and first woman president in almost 80 years from its founding in Brussels.

“I could never have achieved this if our members did not respect the strength and abilities of the people in our Philippine institution which had given me all the support when I was double ‘hatting’ doing my domestic and international jobs.

“I trust they will be able, soon, to overcome this crisis of confidence and move on to recover lost ground.

“Thanks, again, for your kind words. You’re a person with a long memory. The best of luck to you in all your endeavors.

‘Less than sub-human’

The second letter sender is a well-respected public relations practitioner who still commands a lot of respect in the business community despite having “graduated” into the senior citizens’ ranks more than two decades ago.

Whether providing advice in managing issues or actively giving time and effort to his many do-good initiatives, Manong Max Edralin remains a national icon that draws respect and inspiration from many of his friends and followers. Here is what he wrote:

“I don’t know whether to cry or be amused. In your column of May 21, 2011, you wrote about my monthly pension of P3,971.77 from SSS after retiring as a vice president of Citibank as “less than sub-human.” Today you are writing about the fat bonuses of the SSS executives in the millions of pesos. 

“I can’t understand it. Our friend your fellow columnist Conrad de Quiros, writing about his brother Emil, the president of SSS, says the bonuses come naturally after SSS collected a net income of P36.2 billion in 2012. 

“I grant that the directors deserve some reward for effort, and that includes my cousin Danny Edralin who represents labor in the SSS board, but can’t they appropriate part of the profits to enhance the benefits of the members?   After all, the SSS makes money by investing our, the members’, money. It stands to reason that we should share in the profits. 

“Rey, I am still getting P3,971.77 a month or about P48,000 a year, roughly the amount my cousin Danny receives in one board meeting. I remember standing up and asking President Emil when he was interviewed by Neal Cruz at the Kapihan sa Diamond Hotel, “you call this social security?” 

“Emil mumbled something I can’t remember now. There’s no way you can call P3,971.77 a month social security. I am no longer asking for justice, if that’s a word the commissioners can’t understand. I am looking for common sense.

“All the best, my friend. Carry on.”

Swept under the rug?

The issue about the current SSS’s board’s action to grant themselves millions of pesos in bonuses is far from over. I hope that Manong Max and many other influential senior citizens will join hands to ensure that the SSS members’ retirement benefits will not be ill-managed.

With the Bohol quake, the barangay elections and other corruption scandals that grab the headlines of media outlets, SSS members should remain vigilant about protecting their hard-earned contributions so that the fund will be able to give them some measure of protection in their old age.

Issues that will affect the financial foundation of the SSS should not be swept under the rug.

PCCL 2013 National Collegiate Championship

For the information of collegiate basketball fans interested in the progress of the annual search for the best collegiate teams in the country, the following are the schedules of the regional and qualifying games which will determine teams that will advance to the Sweet 16 step-ladder phase of the Champions League (PCCL) 2013 National Collegiate Championship.

The North-Central Luzon regional championship shall be held on Nov. 11-14, 2013 at Vigan City. The South Luzon-Bicol games are scheduled on Nov. 14-16, 2013 at Sorsogon City.

At the southern part of the country, the Visayas Islands (excluding the province of Cebu) will hold the regional games at Ormoc City on Nov. 15-18, 2013, while the qualifying games for the seats allocated to Northern and Southern Mindanao will be completed by Nov. 11, 2013.

Visit www.CollegiateChampionsLeague.net or like www.facebook.com/PCCLeague for more information and updates on the ongoing tournaments nationwide.

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Should you wish to share any insights, write me at Link Edge, 25th Floor, 139 Corporate Center, Valero Street, Salcedo Village, 1227 Makati City. Or e-mail me at [email protected]. For a compilation of previous articles, visit http://www.bizlinksphilippines.net/.