The plan to increase Social Security System members’ contributions in order to bolster the agency’s viability and increase pensions brings to mind the millions of pesos in bonuses, fees and perks paid by Philex Mining Corp., Union Bank of the Philippines and other big corporate borrowers to SSS officials who sat on the borrowers’ boards of directors.
A Senate investigation a few years back established that in 2009 Romulo Neri, then SSS president, brought home P206 million in director’s bonuses—and that was apart from the P120 million in director’s fees and perks that he collected the same year, and the bonuses and fees the year before, from Philex’s board.
Thelmo Cunanan, former chair of the SSS Board of Trustees, and Neri were reportedly charged by the Bureau of Internal Revenue for nonpayment of income tax on their illegally obtained income as SSS representatives in the boards of Philex Mining and Union Bank. The BIR said Cunanan did not pay tax on his earnings of P15.3 million in 2005, P25.27 million in 2006 and P31.07 million in 2007. Neri, according to the report, underdeclared his earnings during his two-year stint as president of the SSS by 88 percent (P9.9 million) in 2008 and by 55 percent (P18.7 million) in 2009.
Sen. Franklin Drilon said these SSS officials, including past SSS president Corazon de la Paz and board member Sergio Ortiz Luis, were found to have “pocketed trust funds investment earnings of P124.7 million in stock options from Philex.” But nothing happened after the investigation!
Encouraged by the “let’s-get-them attitude” of new Ombudsman Conchita Carpio Morales against malefactors in government, the Philippine Association of Retired Persons on Nov. 22, 2011, filed a complaint with the Office of the Ombudsman against the above-mentioned SSS officials. Alas, until today, Neri and company are out there laughing at President P-Noy’s “daang matuwid.”
Pensioners are expecting P-Noy to go hammer and tongs after the crooks and get back the money they are accused of stealing. Otherwise, his daang matuwid may become daang baluktot or crooked—and the crooks will continue laugh ing their way to the banks while retirees with meager pensions are struggling to find money to buy their maintenance medicine.
—AMADO F. CABAERO,
founding chair and past president,
Philippine Association of Retired Persons,
amacabsenior1@gmail.com