Republic of the Philippines Social Security System

Untitled Document

Compliance with CGS Evaluation for CY 2021

SSS CORPORATE GOVERNANCE SCORECARD
COMPLIANCE WITH CGS EVALUATION FOR CY 2021

	Standard	SSS Compliance/Link (See also Transparency Seal link in the SSS Website)
I. Corporate Governance A
1.	GOCC Policy
a.	Existence and scope to address customer's welfare	Secs. 31, 34, 37, 38, 39 and 40, Manual of Corporate Governance, pp. 20-23
b.	Elaborates efforts to interact with the communities	Sec. 32 (par. 4), Manual of Corporate Governance, pp. 20-21
c.	Ensures that its value chain is environmentally friendly or is consistent with promoting sustainable development	Sec. 32 (par. 5), Manual of Corporate Governance, p. 21
2.	GOCC Activities to implement the abovementioned policies
a.	Customer health and safety	Customer health and safety
b.	Interaction with the communities	Interaction with the communities
c.	Environmentally-friendly value chain	Environmentally-friendly value chain
3.	Separate Corporate Social Responsibility (CSR) report/section or sustainability report/section	Corporate Social Responsibility Corporate Social Responsibility (Certification) Corporate Social Responsibility - Manual of Corporate Governance
4.	Contact details via the company's website or Annual Report which stakeholders (e.g. customers, suppliers, general public etc.) can use to voice their concerns and/or complaints for possible violation of their rights	uSSSapTayo SSC and SSS Management Directory
5.	Performance-enhancing mechanisms for employee participation
a.	Mentions health, safety and welfare policy for its employees	Manual of Corporate Governance p. 20 Employees welfare Manual of Corporate Governance, p. 20 Programs to promote employee relations, engagement, well-being and safety Programs to promote employee relations, engagement, well-being and safety Programs to promote employee relations, engagement, well-being and safety Programs to promote employee relations, engagement, well-being and safety Programs to promote employee relations, engagement, well-being and safety Programs to promote employee relations, engagement, well-being and safety Programs to promote employee relations, engagement, well-being and safety
b.	Publishes data relating to health, safety and welfare of its employees	Publishes data-information on employee relations, engagement and welfare programs Publishes data-information on employee relations, engagement and welfare programs Publishes data-information on employee relations, engagement and welfare programs Publishes data-information on employee relations, engagement and welfare programs Publishes data-information on employee relations, engagement and welfare programs
c.	Provides training and development programmes for its employees	2021 LDD Accomplishment Report 2021 Training Calendar Training and Development Programs The SSS has training and development programs for its employees which are embodied in the following issuances: HR Manual of Personnel Policies, Rules and Regulations (p.72-84) Office Order No. 2015-065 (SSS Succession Management Program) Office Order No. 2018-036 (Guidelines on Designations and Amended Rules on Reassignment and Additional Work Assignments)
d.	Publishes training and development programmes for its employees	2021 LDD Accomplishment Report Publishes data on training and development programs for employees The SSS publishes data on training and development programs for its employees through the following channels: Email blast SSS Intranet - HR Matters
6.	Stakeholders including individual employee and their representative bodies, should be able to freely communicate their concerns about illegal or unethical practices to the board and their rights should not be compromised for doing this.
a.	Procedures for complaints by employees concerning illegal (including corruption) and unethical behavior	SSS Whistleblowing Policy
b.	Procedures to protect an employee/person who reveals illegal/ unethical behavior from retaliation	SSS Whistleblowing Policy
7.	Quality of Annual Report
a.	Corporate objectives	Corporate Objectives
b.	Financial performance indicators	Financial and Non-Financial Measures
c.	Non-financial performance indicators	Financial and Non-Financial Measures
d.	Details of whistle-blowing policy	SSS Whistleblowing Policy
e.	Biographical details (at least age, qualifications, date of first appointment, relevant experience, and any other directorships of listed companies) of directors/commissioners	Chairperson Carlos G. Dominguez, III PCEO Aurora C. Ignacio Secretary Silvestre H. Bello III Comm. Diana Pardo Aguilar Comm. Anita Bumpus-Quitain Comm. Michael G. Regino Comm. Ricardo L. Moldez Comm. Manuel L. Argel, Jr. Comm. Bai Norhata M. Alonto
f.	Training and/or continuing education programme attended by each director/commissioner	SSC Training
9.	Annual Report contains a statement confirming the company's full compliance with the code of corporate governance and where there is non-compliance, identifies and explains the reasons thereof	Final Statement of Full Compliance
11.	Corporate Vision and Mission/Strategy
a.	Board of Directors reviewing the vision and mission/ strategy in the last financial year	Vision, Mission and Corporate Strategy
b.	Board of Directors monitoring/overseeing the implementation of the corporate strategy	Vision, Mission and Corporate Strategy
13.	Code of ethics or conduct
a.	Details of the code of ethics or conduct	Code of Ethics Revised Rules on Administrative Cases in Civil Service Revised Rules on Administrative Cases in Civil Service
b.	All Directors/Commissioners, senior management and employees are required to comply with the code	Code of Ethics Revised Rules on Administrative Cases in Civil Service Sec. 35, Manual of Corporate Governance, page 21 Revised Rules on Administrative Cases in Civil Service
c.	Disclosure on how SSS implements and monitors compliance with the code of ethics or conduct	Revised Rules on Administrative Cases in Civil Service SSS Implementation and Monitoring of Compliance with the Code of Ethics or Conduct AO 2020-008 Revised Rules on Administrative Cases in Civil Service
Nomination Compensation/Remuneration Committee
14.	Appointment of Nomination Compensation/ Remuneration Committee	Sec. 16(1), Manual of Corporate Governance, pp. 11 - 12 (Executive Committee) SSC Committees and their Activities, Duties and Responsibilities
15.	Nomination Compensation/Remuneration Committee meetings	Attendance Record Of The SSC Members
16.	Report of the Nomination Compensation/Remuneration Committee publicly disclosed	Accomplishment Report Executive Committee
Audit Committee
17.	Appointment of an Audit Committee	Sec. 16(4), Manual of Corporate Governance, pp. 14-15 SSC Committees and their Activities, Duties and Responsibilities
18.	Report of the Audit Committee publicly disclosed	2021 Audit Committee Accomplishment Report
19.	At least one member of the Audit Committee has an audit, accounting or finance background (qualification or experience)	Comm. Anita Bumpus-Quitain Comm. Diana Pardo Aguilar Comm. Ricardo L. Moldez Comm. Manuel L. Argel, Jr.
20	Audit Committee meetings	Attendance Record Of The SSC Members
Risk Management Committee
21.	Appointment of Risk Management Committee	SSC Committees and their Activities, Duties and Responsibilities Sec. 16(2), Manual of Corporate Governance, pp. 12-13 (Risk Management and Investments Committee)
22.	Report on Risk Management Committee publicly disclosed	Accomplishment Report Risk Management and Investments Committee
23.	At least one member of the Risk Management Committee has a background in finance and investments	Comm. Bai Norhata M. Alonto Comm. Diana Pardo Aguilar Comm. Michael G. Regino Comm. Manuel L. Argel, Jr. PCEO Aurora C. Ignacio
24.	Board meetings and attendance
a.	Board of Directors meetings scheduled at the beginning of the year	Sec. 9, Manual of Corporate Governance, pp. 7-8 Attendance Record Of The SSC Members Meeting Scheduled at the Beginnign of the Year
b.	Meetings of the Board of Directors	Attendance Record Of The SSC Members
c.	Board of Directors meet at least 75% on their scheduled meetings	Attendance Record Of The SSC Members SSC met at least 75% on the scheduled meetings
d.	Each of the directors/commissioners attended at least 90% of all the board meetings held during the year	Attendance Record Of The SSC Members
e.	Board of Directors meeting separately at least once during the year without the President/CEO present	Attendance Record Of The SSC Members
25.	Access to information
a.	A policy that stipulates board papers for Board of Directors/ Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting	Sec. 9, Manual of Corporate Governance, page 7
b.	Board Secretary	Sec. 15.3, Manual of Corporate Governance, pp. 9-10 Board-Secretary-SVP-Santiago-Agdeppa-2021
26.	Internal Audit
a.	Separate internal audit function	Definition of Internal Audit Service (IAS) in the Manual of Corporate Governance, p. 3 SSS Organizational Structure
b.	Appointment and removal of the internal auditor requires the approval of the Audit Committee	SSS Internal Audit Charter
27.	Risk Oversight
a.	Disclosure in the internal control procedures/risk management systems in place	Risk Management Systems in Place Internal Control Procedures
b.	Annual Report disclosure that the board of directors/commissioners has conducted a review of the company's material controls (including operational, financial and compliance controls) and risk management systems	Review of the Risk Management Systems Review of the SSS Material Controls
c.	Disclosure how key risks are managed	How Key Risks Are Managed
d.	Annual Report containing a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC's internal controls/risk management systems	Adequacy of the Risk Management Systems SSC commenting on the adequacy of SSS internal controls
28.	Board Chairman and CEO
a.	Do different persons assume the roles of Chairman and CEO?	Sec. 15.2, Manual of Corporate Governance, p. 9
29.	Orientation Program and Continuous Professional Education Program
a.	Orientation programs for new Directors	Orientation Program for New Members of the SSC
b.	Policy that encourages Directors/Commissioners to attend on-going or continuous professional education programs	Sec. 27, Manual of Corporate Governance, p. 18 SSC Training On-going or Continuous Professional Education Programs
c.	Appointive Directors attending at least 1 training for the calendar year	SSC Training
30.	Board Appraisal
a.	Annual performance assessment conducted of the Board of Directors	Annual Performance Assessment
b.	Disclosure on the process followed in conducting the Board assessment	Process in Conducting Board Assessment
c.	Disclosure on the criteria used in the Board assessment	Criteria Used in Board Assessment
31.	Committee Appraisal
a.	Annual performance assessment conducted of the Board of Directors Committees	SSC Committee Performance Assessment
II. Corporate Governance Report B
8.	Annual reports downloadable from the GOCC's website	2021 Annual Report downloadable from SSS Website
10.	Timely filing/release of annual/financial reports
a.	Audited annual financial report/statement released within 60 days upon receipt from COA	2021 Financial Statements (Received: June 30, 2022; Posted July 8, 2022)
b.	Annual report released within 90 days from release of audited financial report	2021 Annual Report released within 90 days from released of audited financial report
c.	True and fairness/fair representation of the annual financial statement/reports affirmed by the board of directors/commissioners and/or the relevant officers of the company	Annual Financial Statement Affirmed by the SSC
12.	Performance Evaluation System (PES)
a.	GOCC achieving 90% in the PES	Certification re SSS 2021 Performance Evaluation System
BONUS
1.	Stakeholder Relationships
	Does the GOCC practice Global Reporting Index (GRI) on its annual reports?
2.	Disclosure and Transparency. Quality of the Annual Report.
	Is the audited annual financial report/statement released within 30 days upon receipt from COA?	2021 Financial Statements (Received: June 30, 2022; Posted July 8, 2022)

Note: All other information on corporate governance can be linked to the items in the SSS Transparency Seal.


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