Philippines’ DOF is Crafting a Sovereign Wealth Fund Bill
Posted on 12/08/2021
Department of Finance of the Republic of the Philippines formulates revenue policies that aims to ensure funding of critical government programs and accelerate economic growth and stability. The finance department is crafting a bill to create a sovereign wealth fund to handle the finances of government social institutions, including the Republic of the Philippines Social Security System (SSS) and Government Service Insurance System (GSIS). The country is seeking to improve the fund management of the SSS and GSIS funds. This could be a sign of investment diversification for the government funds. Each of the agencies such as SSS= and GSIS have their own investment management offices,
The Social Security System is a state-run, social insurance program in the Philippines to workers in the private, professional and informal sectors.
