Finance chief pushes Teves as next SSS chair

The head of the Duterte administration’s economic team has endorsed former finance chief Margarito Teves to chair the Social Security System as the state-run pension fund struggles to keep its fund life intact following a pension increase last year.

Finance Secretary Carlos G. Dominguez III said he nominated Teves for the vacant position two months ago, but President Duterte has yet to give his approval.

Referring to Teves’ nickname, Dominguez said: “Gary is a good guy to consider. He was a congressman, so he can help if they (the SSS) need new legislation. He performed quite well as president of Land Bank of the Philippines and secretary of the Department of Finance.”

“You have to remember: Gary was the secretary of finance when the world was crumbling. This guy, together with (former President) Gloria Arroyo, held his own,” Dominguez added, referring to the global economic crisis in 2008.

When the President did not renew former SSS Chair Amado Valdez’s term in February, Teves was immediately rumored to be the replacement.

When the Inquirer sought confirmation from Teves in February, he declined to comment, only saying that he would respond “at the appropriate time.”

As for former justice secretary Vitaliano Aguirre, who upon his resignation last month was also rumored to likely become SSS chair, Dominguez said: “I didn’t hear that. Everybody has a right to float his boat.”

As for the replacement of former SSS commissioner Pompee La Viña, sources said Godofredo Aquino, special adviser to Dominguez and a former stockbroker, could take over the post.

La Viña was sacked from the SSS also last February for alleged questionable activities, but the social media manager of President Duterte’s election campaign was appointed as undersecretary at the Department of Tourism last month.

As for the DOF-attached Securities and Exchange Commission, Dominguez said that they were not in a rush to look for Chairperson Teresita Herbosa’s replacement even as her seven-year term already ended in mid-March.

“I haven’t decided yet. I’m not in a rush—she’s doing a good job,” Dominguez said. —BEN O. DE VERA