Former lawmaker Zarate urges congressional investigation of near P40 billion SSS paper losses
Ex-Bayan Muna representative Carlos Isagani Zarate has called for a Senate probe into alleged paper-stock losses of the Social Security System amounting to almost P40 billion.
Zarate warned that the reported losses could jeopardize the contributions of millions of Filipino workers and retirees. He also highlighted weaknesses in the SSS’s investment risk-management framework, suggesting they could threaten the fund’s solvency. The former congressman urged lawmakers to examine the portfolio strategy and safeguards to protect the pension system.
