And how does SSB manage its social versus its corporate responsibility? We asked about that:
Reporter
"Insofar as it is an investor with significant equity in these utilities. But it cannot act like the average investor with instinct to maximize profits at all costs."
"And the position is invidious because at all times you are looking out for the well-being of the worker."
Jerome Palma, CEO - SSB
"Yes."
Reporter
"And the contribution they make, they own the fund."
Jerome Palma, CEO - SSB
"Right."
Reporter
"But at the same time, on the need to make good on money. How hard is it to manage a position like that where you know you're burning the candle at both ends?"
Jerome Palma, CEO - SSB
"It is. It is extremely a balancing act that Social Security must do, not just in our investment to ensure that we place our money in not just sound and viable investment, but investment that serves a social cause. We have to be mindful of that as well. We do want to generate the returns. But we see it as well in terms of managing our benefits and our contribution rate and everything else, where, increasing contribution rate excessively impacts people."
"Increasing the ceiling, for example, should have a positive impact, but it would mean people have to contribute more. So not just in the investment side, but in our day to day operation. We have to strike a balance."
"When we make these investments, the investment decisions are not always and only restricted to how much maximum return can we get. But can we invest in things that serve a social purpose?"
