Solon wants all SSS execs to undergo audit, lifestyle check

Bayan Muna party-list Representative Carlos Zarate on Thursday called for an audit of the assets and investments of the Social Security System (SSS), and a lifestyle check on its board members and other officials.

At least four SSS officials supposedly benefited from anomalous stock market trading.

In a statement, Zarate said the audit and lifestyle check should be made aside from suspending and freezing the bank and financial accounts of the four SSS officials, with their stocks to be seized and added to the SSS fund.

"This is in line to see if indeed that it is only the four SSS executives who are using their positions to enrich themselves," he said.

"They must remember that they are there to serve the members of the SSS and most of them are political appointees. They are not there to become rich but to share their supposed skills and talents to the people," he added.

SSS commissioner Jose Gabriel La Viña has filed an administrative complaint against executive vice president Rizaldy Capulong, Equities Investment Division chief Reginald Candelaria, Equities Product Development head Ernesto Francisco Jr., and chief actuary George Ongkeko Jr. for supposedly profiteering from stock market trading.

House Committee on Banks and Financial Intermediaries chair Ben Evardone is set to file a resolution on Thursday to investigate the incident.

SSS chairman Amado Valdez, however, said on Wednesday that Candelaria and Ongkeko already stepped down from their respective positions.

SSS officials receive high salaries and bonuses as compared with other government-owned and controlled corporations that they should be doing all they can to honestly serve the public, Zarate noted.

"Milyon-milyon na nga mga sahod at bonuses nila tapos ganito pa ang gagawin saka sasabihin na dapat itaas ang kontribusyon ng mga miyembro, aba mahiya naman sila at harapin ang ginawa nilang kasalanan," he said.

SSS has assured members that due process will be observed in the investigation into the allegations. — Erwin Colcol/VDS, GMA News