Noy justifies SSS bonuses

MANILA, Philippines - President Aquino said yesterday the bonuses for the executives of the Social Security System (SSS) could be justified and the incentives for officials of government-owned and controlled corporations (GOCCs) would have to follow the processes set by his administration.

Aquino issued the statement after the Governance Commission for GOCCs (GCG) said it had authorized at least 20 GOCCs to release incentives for the year 2012.

But the President was only responding to the issue involving the P10-million bonuses given by SSS to its officers.

Aside from the SSS, the Philippine Health Insurance Corp. (PhilHealth) was reported to have given some P1.448 billion in bonuses and allowances to its officials and employees last year.

The Commission on Audit said PhilHealth officials and employees were given fat bonuses and allowances despite having a P3.8-billion shortfall in its reserve fund requirement for 2012.

Aquino told journalists that some GOCCs must be given consideration, provided they are earning revenues.

“I think some sectors would say this is unfair, but I said when we’re talking about bonuses make sure the GOCC has an income. If it is receiving subsidy, it should not be given any bonus,” the President said in an ambush interview in Camp Aguinaldo where he had a meeting with officials to discuss government’s response to the powerful quake that hit Bohol and Cebu.

Aquino said the GCG informed him that there are certain entities that are and would never be profitable.

“What if their performance is good in terms of cutting down losses? How about those who are performing well?” Aquino said.

He said there was a system to be followed.

“If you’re talking about the SSS, solidity of the fund has been addressed through the efforts of the board and the personnel management of the SSS.”

The President said these perks and privileges entice competent people to join GOCCs because their management skills are needed.  – With Jess Diaz