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PDIC, GSIS, SSS embark on financial literacy campaign for public and private sector employees

TRIPARTITE PARTNERSHIP ON FINANCIAL LITERACY. PDIC President Valentin A. Araneta (4th from left), GSIS President Robert G. Vergara (3rd from left) and SSS President Emilio S. De Quiros, Jr. (5th from left) sign the tripartite memorandum of understanding on the financial literacy campaign for employees in the public and private sectors on December 19. The campaign aims to help GSIS and SSS retirees and members make informed financial decisions on their finances. Also present during the signing were (L-R) PDIC Directors Protacio T. Tacandong (extreme left) and Rogelio W. Manalo (2nd from left); and SSS Chairman Juan B. Santos (extreme right).

The Philippine Deposit Insurance Corporation (PDIC), Government Service Insurance System (GSIS) and the Social Security System (SSS) signed a tripartite memorandum of understanding (MOU) to promote a financial literacy campaign for GSIS and SSS retirees and members. The MOU signing was held at the PDIC office on December 19, 2013.

The tripartite undertaking was in support of the three agencies’ collective goal of equipping the general public with information and guidance to make responsible decisions on their finances. Usapang Pera: Mga Dapat Alamin, PDIC’s financial literacy guidebook on basic banking and financial transactions, is one of the primary information materials to be used in the conduct of the campaign.

PDIC President Valentin A. Araneta said that the priority group to be targeted by the campaign includes the retiring employees from both the public and private sectors. They should be provided with all possible guidance on how to handle their hard-earned lifetime savings. GSIS President Robert G. Vergara and SSS President Emilio De Quiros, Jr. expressed support for the campaign and said they welcome the opportunity to work with the PDIC to further promote financial literacy in the country.

Under the MOU, the three agencies will regularly conduct lectures and seminars for GSIS and SSS members. This public awareness campaign will be complemented with the distribution of information materials on financial literacy.

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing permanent and continuing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

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PDIC is a government instrumentality created in 1963
by virtue of Republic Act 3591, as amended, to insure
the deposits of all banks. PDIC exists to protect
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