Section 4June 18, 1954, Sec./Art. 4

Powers and Duties of the Commission. For the attainment of its main objectives as set forth in section two hereof, the Commission shall have the following powers and duties:

(a) To adopt, amend and rescind, subject to the approval of the President, such rules and regulations as may be necessary to carry out the provisions and purposes of this Act.

(b) To submit annually not later than March 31, a public report to the President of the Philippines covering its activities in the administration and enforcement of this Act during the preceding year including information and recommendations on broad policies for the development and perfection of the program of the SSS. (As amended by Sec. 2, P.D. No. 735, S-1975)

(c) To require the Actuary to submit a valuation report on the SSS benefit program every five years, or more frequently as may be necessary, and to undertake the necessary actuarial studies and calculations concerning increases in benefits and the financial stability of the SSS and to provide for the feasible increases in benefits and the addition of new ones under such rules and regulations as the Commission may adopt subject to the approval of the President: President, That the actuarial soundness of the reserve fund shall be guaranteed: Provided, further, That such increases in benefits shall not require any increase in the rate of contribution. (As amended by Sec. 1, P.D. No. 1636, S-1979 and Sec. 2, E.O. No. 102, S-1986)

(d) To establish branches of the System whenever and wherever it may be expedient or necessary, and to inspect or cause to be inspected periodically such branches.

(e) To enter into agreements or contracts for such service and aid, as may be needed for the proper, efficient and stable administration of the System.

(f) To adopt from time to time a budget of expenditures including salaries of personnel, against all funds available to the System under this Act. (As amended by Sec. 3, R.A. 1792)

(g) To set up its accounting system and provide the necessary personnel therefor. (As amended by Sec. 3, R.A. 1792)

(h) To require reports, compilations and analyses of statistical and economic data and to make investigations as may be needed for the proper administration and development of the System.

(i) To acquire property, real or personal, which may be necessary or expedient for the attainment of the purposes of this Act.

(j) To acquire, receive, or hold, by way of purchase, expropriation or otherwise, public or private property for the purpose of undertaking housing projects preferably for the benefit of low-salaried employees and for the maintenance of hospitals and institutions for the sick, aged and infirm employees and immediate members of their families. (As amended by Sec. 2, R.A. 2658 and Sec. 2., P.D. No. 735, S-1975)

(k) To sue and be sued in court.

(l) To perform such other acts as it may deem appropriate for the proper enforcement of this Act.