Pension funds need urgent reform, expert says

International expert Carmelo Mesa-Lago presented the results and recommendations of a study on the various social security schemes in the Philippines.

The diagnostic study is considered the most comprehensive one on the fragmented pension fund system that includes the Social Security System (SSS), Government Service Insurance System (GSIS), AFP- Retirement and Separation Benefits System (RSBS), and those that cater to the police, jail and penology, firemen, the coast guard, the judiciary, among others.

Mesa-Lago is a Distinguished Service Professor Emeritus of Economics at the University of Pittsburgh. He is a consultant for various groups, including the United Nations, World Bank, ADB. He has written 82 books and 275 articles/chapters in 7 languages in 34 countries on social security issues.

Move.PH’s Lala Rimando talked to him at the sidelines of a forum on pension funds on Nov. 10, 2011.

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