Retired SSS members file class suit to recover excessive bonuses

MANILA, Philippines – A group of Social Security System (SSS) members filed yesterday a suit at the Quezon City Regional Trial Court seeking to compel the current SSS leadership to recover the huge bonuses allegedly received by former officials of the agency.

Members and officers of the Philippine Social Justice Foundation (Philjust), Inc. filed a petition for mandamus and named as respondents the SSS, its president Emilio de Quiros Jr. and the Social Security Commission that manages and invests SSS excess money in common shares of stocks listed in the stock exchange.

Lawyers Samson Alcantara, Romeo Robiso, Pedro Dabu Jr., Lope Feble and Mariano Santiago, all members of Philjust Inc., said they filed the suit as members of the SSS. The suit was raffled off to the Quezon City RTC Branch 105.

“It is respectfully prayed of this honorable court that judgment be rendered commanding the respondents to immediately take legal steps to recover the per diem, bonuses, and stock options received by its nominees in the different board of private corporations so that the same may become part of the funds of the system,” the petition stated.

The petitioners said they have written a letter to the SSS requesting for legal action to recover the money that belongs to the agency, but current officials of the agency have refused to recover what is due SSS members.

“Obviously, respondents are protecting their former officials to the damage and prejudice of the individual petitioners in particular and all the SSS members in general,” the petitioners claimed.

The group cited that the per diem, bonuses and stock options received by five officers from 2007 to 2010 – amounting to P178,743,634 – was “money legally due to the working class.”

The Social Security Commission purportedly invested the SSS Investment Reserve Fund at Philex Mining Corp., Union Bank, First Philippine Holdings Corp., Belle Corp., Security Bank, Alliance Tuna International Inc., and Phoenix Petroleum Philippines.

“It was discovered during the (Senate) committee hearings that certain SSS officers, who served as the agency’s representatives to the board of private corporations where the system has investments, have received huge bonuses and stock options,” the petitioners stated.

Among the former SSS officials cited in the petition were retired Gen. Thelmo Cunanan who received P132, 656,655.07 in bonuses and stocks from 2007 to 2010; Romulo Neri (P17,256,300 from 2008 to 2010), Corazon de la Paz (P20,718,901.15 from 2008 to 2010), Sergio Ortiz (P6,345,278 from 2009 to 2010) and Sergio Apostol (P1,766,400 from 2008 to 2010).

The petitioners cited that in July 2010, the SSS Legal Department issued a legal opinion that the SSS nominated director “must account for whatever money he received in his capacity as director of the company since the money is considered as government fund.”

The petitioners said the SSS president and the commission had not taken steps to recover the huge amounts.

“The money collected from the members as their SSS contribution come from their own sweat and blood. For this reason alone, the respondents who are tasked to carry out aforesaid state policy shall perform their duties well and protect the monies and properties of the system being held by them in trust for its members,” the suit stated. –Reinir Padua (The Philippine Star)