State workers express fear SC rule to cut pension fund

The Confederation of Government Employees Organization Inc. (Cogeo ), a group of current and retired government employees, chided the Supreme Court (SC) yesterday for its decision to uphold an earlier lower court order on state pension fund Government Service Insurance System (GSIS) for the garnishment of P400 million — which could eventually balloon up to billions of pesos — to a small group of lawyers involving parcels of land in Pasig City.

In its Motion for Leave to Intervene with Prayer to Admit Attached Petition for Intervention, Cogeo, represented by lawyers Dennis Timajo, David Gabriel, and Alvin Claridades, said the decision of the high tribunal issued on Dec. 18, 2009 threatens the actuarial solvency of the GSIS fund, the source of which are members through their premium contributions to the GSIS.

“This (SC decision) not only runs counter to the intent of the framers of Republic Act 8291 (the law that created the GSIS and also defines the source of the fund), but certainly prejudices and adversely affects the rights of movant-intervenor (Cogeo),” the group said in its motion.

Cogeo added that reduction of P400 million to P1 billion in the GSIS fund “transcends more than monetary consideration as it affects the very existence of the GSIS as a social security institution. More importantly, the failure to even allow the GSIS to prove that it had not benefited nor owned the alleged 78 lots being claimed by Rosario Enriquez Vda. de Santiago is an injustice and will result in unjust enrichment. –Daily Tribune