The challenges of pension management in the Philippines

Unlike in Australia where one’s pension fund (called Superannuation locally) is managed by employee’s choice, in the Philippines this choice is limited either to the GSIS if you work for the government or the SSS if you work in the private sector. But since both are government agencies, its ability to manage its funds for its members is always subject to political influences. Maybe another option to managing them efficiently is privatizing them similar to the Superannuation practices in Australia where the only political influence is setting the required employer contribution (currently at 9% of the employee’s salary).

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