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GSIS, SSS to be checked by Insurance Commission.
(From BusinessWorld (Philippines))
Byline: Eric S. Boras
Malacanang intends to give the Insurance Commission oversight powers to periodically review the investments of state-run pension funds Government Service Insurance System (GSIS) and Social Security System (SSS).
GSIS is the pension fund for government workers while SSS is its counterpart for the private sector.
The commission yesterday sent to the Palace a draft Administrative Order that would give it supervisory powers over both pension funds, currently under the Department of Finance.
If approved, the order gives the commission the authority to approve or reject …
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