ASEAN social security firms eye deeper partnerships | ABS-CBN
ADVERTISEMENT
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
ASEAN social security firms eye deeper partnerships
ASEAN social security firms eye deeper partnerships
MANILA - Various social security institutions in Southeast Asia collectively manage $1.3 trillion in assets and they are considering collaborating more closely with each other, possibly even co-investing in projects in the region.
MANILA - Various social security institutions in Southeast Asia collectively manage $1.3 trillion in assets and they are considering collaborating more closely with each other, possibly even co-investing in projects in the region.
Delegates gathered in Manila for the 41st ASEAN Social Security Association (ASSA) Meetings which takes place on November 25-27, 2024. Officials from different organizations hope for deeper partnerships as they navigate the future of social security.
Delegates gathered in Manila for the 41st ASEAN Social Security Association (ASSA) Meetings which takes place on November 25-27, 2024. Officials from different organizations hope for deeper partnerships as they navigate the future of social security.
ASSA Chairperson Ahmad Zulqarnain Onn, who is also the Chief Executive Officer of Malaysia’s Employees Provident Fund, said they will discuss ways to work with each other and invest in projects that will benefit the region as a whole.
ASSA Chairperson Ahmad Zulqarnain Onn, who is also the Chief Executive Officer of Malaysia’s Employees Provident Fund, said they will discuss ways to work with each other and invest in projects that will benefit the region as a whole.
“We have great interest in investing in infrastructure all throughout the region. And as the world also embarks on this big transition in energy systems, there will be huge capital needs that pension funds in particular are well posed to deliver,” Onn said.
“We have great interest in investing in infrastructure all throughout the region. And as the world also embarks on this big transition in energy systems, there will be huge capital needs that pension funds in particular are well posed to deliver,” Onn said.
ADVERTISEMENT
Philippine Government Service Insurance System (GSIS) President and General Manager Jose Arnulfo Veloso, who is also the ASSA Vice Chairman, said before they do not talk to other social security institutions where they will invest, but with this forum, they will know the risk appetite of each member, and a future collaboration is possible.
Philippine Government Service Insurance System (GSIS) President and General Manager Jose Arnulfo Veloso, who is also the ASSA Vice Chairman, said before they do not talk to other social security institutions where they will invest, but with this forum, they will know the risk appetite of each member, and a future collaboration is possible.
“It will probably give us now the idea if we have the same risk appetite, it will give us an idea if we have the same priority. Is bringing the cost of power down the same priority for other member states, is food security a priority for them, building more medical or learning facilities mean a lot to the members,” Veloso said.
“It will probably give us now the idea if we have the same risk appetite, it will give us an idea if we have the same priority. Is bringing the cost of power down the same priority for other member states, is food security a priority for them, building more medical or learning facilities mean a lot to the members,” Veloso said.
He added that the collective $1.3 trillion in assets is huge and can create a big economic impact in the region. These investments, they said can spur regional development.
He added that the collective $1.3 trillion in assets is huge and can create a big economic impact in the region. These investments, they said can spur regional development.
“We collectively hold a very huge amount of funds that we’re supposed to let grow for the benefit of our members. And collectively what we aim is to make safe investments, but at the same time not only help our respective nations, but help the rest of ASEAN,” Veloso said.
“We collectively hold a very huge amount of funds that we’re supposed to let grow for the benefit of our members. And collectively what we aim is to make safe investments, but at the same time not only help our respective nations, but help the rest of ASEAN,” Veloso said.
Onn added, “How we allocate capital. Investors also have an impact on our real economies. That is a good example of collaboration”
Onn added, “How we allocate capital. Investors also have an impact on our real economies. That is a good example of collaboration”
ADVERTISEMENT
Veloso added that they may also check on investment opportunities in sectors or areas they may not be familiar with. And they hope to learn more from delegates from other countries.
Veloso added that they may also check on investment opportunities in sectors or areas they may not be familiar with. And they hope to learn more from delegates from other countries.
“Not only are we going to learn risk management, capital allocation, but the diversification of investments, not only in our own respective areas of familiarity, but in areas in the rest of ASEAN that we are not familiar about,” said Veloso.
“Not only are we going to learn risk management, capital allocation, but the diversification of investments, not only in our own respective areas of familiarity, but in areas in the rest of ASEAN that we are not familiar about,” said Veloso.
The Philippine members of ASSA are GSIS, Social Security System, PhilHealth, Pag-IBIG Fund, the Philippine Charity Sweepstakes Office, and the Employees’ Compensation Commission.
The Philippine members of ASSA are GSIS, Social Security System, PhilHealth, Pag-IBIG Fund, the Philippine Charity Sweepstakes Office, and the Employees’ Compensation Commission.
ADVERTISEMENT
ADVERTISEMENT
