The Senate on Tuesday adopted an amendment in its version of the Maharlika Investment Fund bill to prohibit state pension and insurance funds from investing in the sovereign wealth measure.
Banned from investing in the MIF are the Government Service Insurance System , Social Security System , Philippine Health Insurance Corporation , Pag-IBIG Fund, Overseas Workers Welfare Administration , and the Philippines Veterans Affairs Office .
The prohibition was first proposed by Senator Raffy Tulfo in Section 6 of the capitalization and initial funding.
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