MANILA – Social Security System (SSS) president and chief executive officer Emmanuel Dooc has resigned from his position, the state-run pension fund said Wednesday.
“Actually, the correct term is I stepped down because I’ve been appointed under the old SS law. So my term of office has expired with the new SS law,” Dooc told GMA news Online in a phone interview.
“In view of the effectivity of the SS Act of 2018, I wrote a letter to the President, I said that I am voluntarily and irrevocably stepping down from my position as president and chief executive officer of SSS as well as being the vice chair of the SS Commission effective immediately,” he said.
With his resignation, Dooc said, he wants to give President Rodrigo Duterte a “freehand” to appoint his successor who will implement the new SSS Charter, which took effect on Tuesday, March 5, 2019.
On Feb. 15, Duterte signed into law SS Act of 2018, which overhauled the charter of the SSS.
The new law repeals the old Social Security law and expands the powers of the SSS to ensure its long-term viability.
Under the SSS Rationalization Act, the SSS Commission is allowed to determine the salary credit and monthly contributions of members, which would now enable the commission higher contributions based on actuarial survey.
It also provides for mandatory SSS coverage for overseas Filipino workers, as long as they are not over 60 years old, and the power of the SSS Commission to increase benefits, condone penalties, and rationalize investments.
Since the new law overhauls the SS charter, Dooc said his resignation is necessary to ensure the smooth reorganization of the SSS.
Duterte appointed Dooc as president and CEO of the pension fund in November 2016 to replace Emilio de Quiros Jr.
Prior to his appointment as SSS chief, he served as Insurance Commissioner from 2011 to 2016. (GMA News)
