Finance veteran Victor Limlingan is new SSS chief

MANILA, Philippines — President Marcos has appointed finance and investment veteran Victor Alfonso Limlingan as the new president and chief executive officer of the Social Security System (SSS), with priorities including expanding member loan programs, improving investment returns and relaunching the Pension Booster Program.

Limlingan succeeded Robert Joseph Montes de Claro, who was appointed secretary of the Department of Information and Communications Technology.

Limlingan took his oath of office before Finance Secretary Frederick Go at the Department of Finance yesterday.

“As the new SSS chief, Limlingan will prioritize the enhancement and expansion of member loan programs, the improvement of the investment portfolio’s risk-adjusted returns, and the relaunch of the Pension Booster Program,” SSS said in a statement.

However, Limlingan takes over the pension fund amid scrutiny over alleged paper losses on listed stocks amounting to nearly P40 billion.

The SSS has said the unrealized or “paper,” losses is a temporary decline in the market value of an investment that has not yet been sold.  It argued that its equity investment portfolio has generated P204 billion in realized gains and dividend income over the last 57 years.

Limlingan previously served as a member of the Social Security Commission (SSC), the pension fund’s policy-making governing body, representing the employers’ group.

Limlingan will also bring his experience in finance, investment, risk management, entrepreneurship and public service, according to the SSS.

The 49-year-old official is the managing director of Regina Capital Development Corp. and previously served on the board of state-owned Development Bank of the Philippines, where he chaired the Risk Oversight Committee.