{"id":127988,"date":"2017-11-02T02:01:23","date_gmt":"2017-11-02T06:01:23","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=127988"},"modified":"2017-11-02T02:01:23","modified_gmt":"2017-11-02T06:01:23","slug":"mechanisms-in-place-vs-erring-execs-investments-still-intact-sss","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/11\/02\/mechanisms-in-place-vs-erring-execs-investments-still-intact-sss\/","title":{"rendered":"Mechanisms in place vs erring execs; investments still intact: SSS"},"content":{"rendered":"<figure id=\"attachment_98637\" aria-describedby=\"caption-attachment-98637\" style=\"width: 900px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/04\/16142271_10155084137947868_7745848707011054980_n.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-98637\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/04\/16142271_10155084137947868_7745848707011054980_n.jpg\" alt=\" The statement was issued following reports that some of its officials are facing charges for allegedly using the agency\u2019s accredited stock brokers for their own benefit.(Photo: Philippine Social Security System\/ Facebook)\" width=\"900\" height=\"900\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/04\/16142271_10155084137947868_7745848707011054980_n.jpg 900w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/04\/16142271_10155084137947868_7745848707011054980_n-150x150.jpg 150w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/04\/16142271_10155084137947868_7745848707011054980_n-300x300.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/04\/16142271_10155084137947868_7745848707011054980_n-768x768.jpg 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/a><figcaption id=\"caption-attachment-98637\" class=\"wp-caption-text\">The statement was issued following reports that some of its officials are facing charges for allegedly using the agency\u2019s accredited stock brokers for their own benefit. (<a href=\"https:\/\/www.facebook.com\/SSSPh\/photos\/a.469386047867.281200.102761037867\/10155084137947868\/?type=1&amp;amp;theater\">Photo<\/a>: <a href=\"https:\/\/www.facebook.com\/SSSPh\/\">Philippine Social Security System\/ Facebook<\/a>)<\/figcaption><\/figure>\n<p>MANILA\u2014 The Social Security System (SSS) on Wednesday assured its members that the pension fund has institutionalized mechanisms to address administrative complaints against its employees and officials.<\/p>\n<p>\u201cSuch mechanisms ensure all parties are given due process,\u201d the pension fund for workers in the private sector said in a statement.<\/p>\n<p>\u201cSSS guarantees its members that the Investment Reserve Fund, which came from members\u2019 contributions and investment income, is intact and well-protected,\u201d it added.<\/p>\n<p>The statement was issued following reports that some of its officials are facing charges for allegedly using the agency\u2019s accredited stock brokers for their own benefit.<\/p>\n<p>Reports said SSS Commissioner Jose Gabriel La Vina has filed a complaint against SSS Executive vice president for investments Rizaldy Capulong, equities investment division chief Reginald Candelaria, equities product development head Ernesto Francisco Jr. and chief actuary George Ongkeko Jr.<\/p>\n<p>La Vina alleged that the four are liable for \u201cserious dishonesty and grave misconduct\u201d since some of them used SSS-accredited stock brokers for their own benefit.<\/p>\n<p>He said the previous SSS administration prevented possible abuses by its investment officers by requiring them to declare all their investments and have these approve by their superiors.<br \/>\nHe claimed that Candelaria and Francisco endorsed each other\u2019s stock holdings and these were approved by Capulong.<br \/>\nHe added that these stocks were handled by SSS-accredited stockbrokers even if one of these brokers only handles high net worth investors and corporates.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u2014 The Social Security System (SSS) on Wednesday assured its members that the pension fund has institutionalized mechanisms to address &hellip;<\/p>\n","protected":false},"author":33,"featured_media":98637,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,95],"tags":[30823,30824],"class_list":["post-127988","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news-ph","tag-mechanisms-in-place-vs-erring-execs-investments-still-intact-sss","tag-social-security-system-sss","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/127988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=127988"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/127988\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/98637"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=127988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=127988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=127988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}