A changing year and hoping for change

As another year ends, we pause and take a short breather to look back at what transpired over the last 12 months. The rise of Duterte, from a presidential aspirant to becoming the 16th president of the Republic of the Philippines wins hands down as the biggest newsmaker in the country.

With Duterte at the helm, the term “extra-judicial killings” became a Filipino byword as thousands of suspected drug users and pushers were “culled” from society without any semblance of due process of law and regard for human rights.

Thanks to Duterte, too, a new political protocol has been spawned, where public statements of the country’s chief executive keep people – including the media – guessing if they were meant to be taken seriously or just with a grain of salt.

No doubt, our President has cast a big shadow on almost every aspect of our lives during the year. A big man, indeed, even on an international scale by taunting the US and President Barrack Obama, while giving more importance to countries like China and Russia.

What about the small man? The Filipinos who commute to work daily and look forward to going home, however modest it may be, to be with their family at the end of a tiring day.

Ever-hopeful Filipinos

If we believe what the surveys say, life has been much the same for most of our countrymen. Traffic is still bad in the metro, getting good-paying jobs still a dream, and many hope that one day, they would be able to buy their own house.

To them, the coming new year has brought about little change in their lives. But they remain optimistic and continue to march on, armed with a liberal dose of hope that real change will happen in the future.

To our readers, my fellow Filipinos, here’s hoping for a prosperous new year, not just in 2017, but in the many more years to come.

More readers’ views on SSS

We give way to our readers who sent their thoughts about the Philippine Social Security System’s retirement fund. Here’s what Bong Aguilar has to say:

“I read with interest your article in Philippine STAR on SSS and retirement. You see I was once an employee of the system, and Hector Inductivo was one of our bosses (though not directly his superior, though he once offered me to be his subordinate).

“I agree that Congress cannot simply pluck out of the blue an amount to give as pension since it requires actuarial study. However, like most members of the SSS, it is high time to increase the pension. These are my observations and comments.

“1. The maximum Monthly Salary Credit (MSC) is ridiculously low. At P16,000, that’s just almost above minimum wage. As you very well know, most supervisors in the private sector now earn much more than that. And that’s to say nothing of managers and VPs.

“2. Provide a threshold of flexi-fund which one of your readers suggested. Say, at 20,000 MSC and up, members have the option to add to what they contribute. And to make the logic more enticing, such increase should redound to increasing some benefits and privileges, such as but not limited to sickness allowance, salary loan, etc.

“3. I fail to understand the logic of what Mr. Inductivo wrote about regarding looking at the circumstance of some (most?) members who go in and out of the system because of their employment/unemployment. I find that strange since any or most benefits of the SSS are tied to the amount of contribution and the period of contribution.

“In other words, the benefits/privileges change as the contributions change. Ergo, my retirement will be different from a co-employee of the same salary since we have different circumstances.

“4. Lastly, the SSS should begin exploring crowd funding, if it has not yet. This is similar to cooperatives except the SSS being a government institution has access to government plans for big-ticket, sure high-yielding investments.

“For example, the future land reclamation of Manila Bay and/or the future new airport for Metro Manila need not be an exclusive investment of a few real estate companies. Every member of the SSS (and even the GSIS) should be allowed to invest a range of amount.”

Awaiting SSS response

The next set comes from Onofre Consolacion Jr.:

“The SSS, just like banks, should be required to publish yearly audited financial statements (Statement of Condition and Income Statement) with comparative figures over three or two years so that we, the members, are informed of the health of “our” company.

“Did the SSS incur any loss in its investments abroad in previous years especially during the financial crisis in companies like Lehman Brothers and others that went under? How about in local companies?

“How much of the loans of SSS are non-performing assets, and what is the ratio to total loan portfolio?

“May we know the status of the P500 million loan which was granted to a crony of former president Joseph Estrada? Was the loan ever liquidated?

“Thank you if you could inquire from SSS to enlighten us on the foregoing.”

Unpaid SSS salary loan

And lastly, from Ricardo Hernandez, is a plea for help. I’m sure his case is not unique, and has happened to many others. His email address is [email protected].

“Two years ago, nag-verify ako ng status ng SSS ko. Nalaman ko at that time na yung loans ko ay di pala hinulugan ng former employer ko at umabot na ito ng humigit P50,000 dahil ang penalty yata ay mahigit P30,000.

“Sarado na ang kumpanya matagal na. Nagmamadali kasi ako noon dahil pabalik na ako ng Dubai kaya di ko na naisip itanong kung puede hulugan na lang. Sa dami ng pila, hindi rin ako pinayuhan. Two years ago na iyon, malamang lumobo uli.

“Pwede ko pa ba buhayin at hulugan na lang iyon kasi wala na rin naman na yung employer ko at malabo na iyon?”

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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 www.BizlinksPhilippines.net.