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Protect Our Funds
Feature Posted on February 2nd, 2009.
PROTECT OUR FUNDS! Do not meddle with workers' funds.
PROFUND or Protect our Funds is a nationwide campaign to block SSS President Romulo Neri's pledge of P12.5 billion worth of pensioners' fund to Arroyo's P330 billion economic stimulus package. This is the collective response of the Filipino people against Neri's hideous plan to gamble SSS funds to the detriment of its 27 million SSS members.
Arroyo's P330-billion package will include P160 billion in incremental government allocations, P100 billion from government financial institutions (GFIs), social security institutions (SSIs) and the private sector, P40 billion in the form of tax breaks for corporate and individual taxpayers, and P30 billion in temporary additional benefits from the SSS, the Government Service Insurance System (GSIS) and Philippine Health Corp. Of the P100 billion, half will be from private commercial banks. The other half is to come from the SSS, GSIS, Land Bank of the Philippines and the Development Bank of the Philippines, each of which will contribute P12.5 billion.
Assistant Minority Leader and Gabriela Representative Liza Maza, Gabriela Representative Luz Ilagan and Anakpawis Representative Rafael Mariano earlier filed House Resolution 956 seeking to probe the implications of such move to the benefits of private sector workers. The legislators also want to push for a review of the SSS charter. The probe also seeks to look into the implications of the move to the private sector workers, and to recommend measures, including a review and possible amendments to the SSS charter to safeguard its members’ funds.
Workers' funds are not for the government to meddle with or subject to undue financial risks like the economic stimulus fund with no assurance of pumping up the economy for the benefit of poor workers.
The ongoing petition against the use of SSS funds can be accessed online at www.petitiononline.com/profund. The nationwide petition signing has also been launched last February 13 at SSS offices.
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