LATEST FIVE THINGS TO KNOWOctober 20, 2026 · Morning6-minute read
ABOUT THE SSS'S ₱40-BILLION PAPER LOSSES
You see SSS contributions come out of a payslip, or set aside money to pay them yourself. Then you read that the fund has almost ₱40 billion in paper losses.
Several lawmakers want Chinese Ambassador Jing Quan sent home. The Chinese Embassy has challenged them to follow through. That exchange leaves an ordinary reader with a reasonable question: if our own officials say an ambassador should leave, why is he still here?
Agriculture Secretary Francisco Tiu Laurel Jr. says his department stopped a disputed rice shipment. A farmers' group is asking him to step aside while the importation is investigated. Customs has described enforcement action against the cargo.
You hear that Meralco has been ordered to return billions of pesos. Then another announcement says the electricity rate is going up. If you are trying to stretch the household budget until payday, the obvious question is: may refund nga, bakit mas mahal pa rin?
A poverty report can quickly turn into a political argument. One side points to progress. Another points to hardship. Before joining that argument, it helps to know what the numbers actually mean.
What the House committee decision establishes, how system loss is charged, and why households still need a final rule and a sample bill before calculating savings.
President Ferdinand Marcos Jr. announced on October 11 that Lino Cayetano would replace Dave Gomez at the Presidential Communications Office. He said Gomez had been bypassed by the Commission on Appointments and that the change would be formalized when they returned from Singapore.
A restaurant charge above ₱200,000. Two purchases at a Nike store in Davao on the same day. More shopping in Japan and Malaysia. These credit card entries appear in financial forensic analyst Alexander Cabrera’s October 9 testimony at Sara Duterte’s impeachment trial.
When can the BIR examine an old tax return? That question became part of Friday’s impeachment hearing when defense counsel Kristine Ferrer asked whether alleged fraud discovered in 2026 would put the earliest assessable tax year at 2016. The prosecution objected, and presiding officer Chiz Escudero sustained the objection.
The House has approved the proposed ₱7.2-trillion national budget for 2027 on second reading, with about ₱116 billion in reported amendments. Its next scheduled vote is on October 12.
The argument at Thursday’s impeachment hearing was about which witness the prosecution could present next. It began with an absent lawyer and became a dispute over preparation and notice. Understanding the exchange helps explain why a courtroom can pause even when the parties, documents and another potential witness are already in the building.
Senator Mark Villar has formally left the Senate minority and joined the majority. The October 8 move strengthens the bloc supporting the chamber’s leadership and gives Villar two significant positions. Its implications for Sara Duterte’s impeachment trial, however, require more than counting political allies.
A bank balance can fall even when the value represented by the money has not disappeared. That distinction sits behind the prosecution’s questions about manager’s checks in Sara Duterte’s impeachment trial. To understand the October 7 testimony, we need to follow the instrument, the person entitled to its value and the declaration of assets for the relevant year.
COA has rejected the request to reconsider the ₱73.287-million disallowance involving the Office of the Vice President’s December 2022 confidential expenses. The October 5 resolution became public on October 7. Its significance is easier to understand when the amount, the audit finding and the available legal remedies are kept separate.
A Makati court has ordered the arrest of Batangas First District Representative Leandro Leviste over an alleged violation of the Public Service Act. The reports checked for this article do not confirm that he has been taken into custody.
The arguments over bank records in Sara Duterte’s impeachment trial involve several protections. The privacy of a peso deposit, the protection of a foreign-currency deposit, and the confidentiality of a report sent to the AMLC come from different rules. Understanding those differences helps explain what the court has allowed and what remains in dispute.
Reports that House prosecutors may stop presenting the bribery article against Sara Duterte can easily sound like the charge has already disappeared. The verified statements describe a proposed prosecution move and the court process needed to address it.
₱4.4 billion is a figure that can dominate a conversation before anyone asks what it counts. AMLC Executive Director Ronel Buenaventura presented that approximate total in the Senate impeachment court on October 5, covering reported transactions involving Vice President Sara Duterte and her husband, Manases Carpio. He also explained that a bank correction had reduced the earlier figure of ₱6.7 billion.
A screenshot saying “walang pasok” can change a family’s plans before anyone checks where it came from. This Teachers’ Day, parents are dealing with a false nationwide announcement alongside local notices that may apply only to particular schools or have already been revised.
Free tuition can make college possible for a family that could never afford the fees. Keeping a child in school still means finding money for transport, meals, supplies and other requirements.
If you use Coins.ph to receive money or pay bills, a failed cash-in can disrupt plans for the day. Coins.ph has announced that some incoming peso services are temporarily unavailable following a BSP directive to improve its internal controls. Its advisory also identifies services that existing customers can still use.
No Contact Apprehension Policy enforcement is returning to six Metro Manila cities on Monday, October 5. A camera can record a possible violation even when no enforcer stops the vehicle, so drivers and registered owners need to know where notices come from, how to check the evidence, and how to question a mistake.
A secondhand phone can put a useful device within reach of someone who cannot afford a new one. The problem comes when the buyer has no clear information about where it came from, what condition it is in, or who will fix it if it fails.
The Supreme Court dismissed three petitions on September 30 challenging how the Senate impeachment court would count the votes needed to convict Vice President Sara Duterte. The dismissal leaves the Senate’s September 23 ruling in place, but it needs to be read carefully. A case can be dismissed because it does not meet the requirements for the Court to hear it, without settling whether the challenged action is constitutional.
Davao City Mayor Sebastian “Baste” Duterte told the Senate impeachment court on September 29 that he had been unfamiliar with GenCorp Industries Inc. before it came up in the proceedings. He also said he did not know about Vice President Sara Duterte’s declared business interest in the company.
If you are planning a flight home or a family trip, check the full ticket price before paying. The Civil Aeronautics Board has approved a higher fuel-surcharge ceiling for October 1 to 15. The increase can add to your travel costs even when the advertised base fare looks affordable.
A Philippine fisheries vessel was damaged in a collision off Palawan. Manila and Beijing disagree about how it happened, while fishermen still need fuel.
Both chambers have backed longer terms, but the November 2026 election remains the law until Congress completes one final bill and the President acts on it.
Metro Manila households served by Maynilad and Manila Water will see slightly higher water charges beginning October 1. The announced increases are small for many residential customers, but the figures vary by concessionaire and consumption level. That makes it easy to misunderstand a notice expressed only in centavos per cubic meter.
Retired Sandiganbayan Presiding Justice Amparo Cabotaje-Tang explained the legal framework for Article II. Her testimony laid out the test; it did not prove the allegations against Vice President Sara Duterte.
Why the Constitution points to 16 votes, why the current absences created a real dispute, and why the Senate must settle the counting rule before judgment.
Defense Secretary Gilberto “Gibo” Teodoro Jr. was answering questions at the Seoul Defense Dialogue on September 8 when a man handed him a note. He read it aloud, challenged its rejection of the 2016 South China Sea ruling and objected to being interrupted that way.
An amicus curiae is someone who helps a court understand a legal question. The phrase means “friend of the court.” When more than one person takes that role, they are called amici curiae. They give advice. The court still makes the decision.
It can be raining outside while PAGASA warns about El Niño. That can sound confusing when the immediate problem is a wet road or a flooded field. The two warnings describe different periods: the weather happening now and the rainfall conditions that may develop over the coming months.
The Sandiganbayan has ordered the arrest of Zaldy Co, Martin Romualdez and two other accused in the plunder case filed on September 7. By Monday evening, authorities had served Romualdez's warrant and carried out booking procedures at Cardinal Santos Medical Center in San Juan. His arrest is a confirmed development; it does not establish that his three co-accused are also in custody.
The Office of the Ombudsman filed a plunder case against former House Speaker Martin Romualdez at the Sandiganbayan on September 7 over his alleged involvement in flood-control kickbacks. The accusations have now reached the court that will handle the criminal case. Romualdez denies wrongdoing and remains presumed innocent.
The increase was divided between March and September, so workers and payroll staff who remember only the first adjustment may apply the wrong rate after September 1.
Flood control is not only about pumps, canals and drainage. It also depends on where communities build, which lands remain open, and whether development decisions follow the same hazard information.
Orly Guteza has withdrawn his earlier accusation. Here is what a recantation changes, what it does not prove, and what the Ombudsman still needs to examine.
The Senate has approved stronger protections for patients who cannot immediately pay, but hospital debt does not disappear and the proposal is not yet law.
The fund can pay for useful local projects, but it is separate from the automatic tax share of local governments and still depends on national budget decisions.
Self-rated poverty and food poverty declined in June, but the figures also show how many Filipino families remain under pressure and why lower household budgets do not necessarily mean life became cheaper.
The Philippines has joined a technology partnership, but the proposed New Clark City hub still needs detailed agreements, investors, utilities, and safeguards.
CADENA could connect budgets, contracts, payments, and reported results in one public trail. The technology still cannot determine whether the information entered is true.
The French financing belongs to a nearly US$970-million package and supports the national budget after policy reforms, rather than a list of local marine projects.
What prosecutors filed, what they must prove, how Duterte’s conditional wording may affect the charge, and the unresolved question of whether the case can proceed while she remains vice president.
The election is still scheduled for November 2, 2026. A newly filed Senate bill would move it by two years, keep current officials in office longer, and change who can run for the Sangguniang Kabataan.
House Bill No. 9965 would bar children below 13 from having social media accounts, require parental consent for users aged 13 to 17, regulate platform algorithms, and impose fines reaching P50 million. It is still being deliberated in the House.
The proposal would add rights over automated decisions, six months’ notice for major workplace AI changes, deepfake rules, and environmental disclosure for AI infrastructure. It is not law yet.
The proposed benefit is not available yet. Congress still has to settle who qualifies, how claims will be verified, and how the program will be funded.
What the 6.2 percent national rate measures, why lower-income households recorded 8.2 percent inflation, and what the figures mean for an ordinary family budget.
What the auditor found in the OVP’s confidential-fund submissions, what those findings mean, and what prosecutors still have to connect to Sara Duterte personally.
Lithuania is offering technology, training, and experience in tracking organized propaganda campaigns, but no detailed Philippine program has been announced.
FIVE THINGS TO KNOWOctober 20, 2026 · Morning6-minute read
ABOUT THE SSS'S ₱40-BILLION PAPER LOSSES
You see SSS contributions come out of a payslip, or set aside money to pay them yourself. Then you read that the fund has almost ₱40 billion in paper losses.
Cover illustration. Not a photograph of a named SSS member or an actual account statement.
Does that mean the money is gone? And if it has not been lost through a sale, why did the auditors raise a warning?
Both questions deserve more than "paper lang."
1
THE ₱40 BILLION IS A DROP IN THE VALUE OF CERTAIN INVESTMENTS
COA's 2025 audit records ₱39.994 billion in unrealized losses on a category of SSS share investments, up from ₱11.6 billion in 2021. Its June 30, 2026 audit letter reports a 245-percent increase. [COA 2025 audit, opening letter (PDF pages 1–2)](https://www.sss.gov.ph/wp-content/uploads/2026/09/Item-10.a.-Annual-Audit-Report-on-the-SSS-for-the-Years-Ended-Dec-31-2025-and-2024-2_Compress_1.pdf)
This is not a finding that someone withdrew ₱40 billion from an SSS account. It is also not the value of the entire pension fund. It concerns investments whose market values had fallen.
WHAT TO WATCH
These are audit figures for 2025, not a measurement of what the same holdings are worth this morning.
2
"PAPER" DOES NOT MEAN THE FALL IN VALUE IS IMAGINARY
Imagine buying a share for ₱100. Its market price falls to ₱70, but you keep it. You have not sold it at a ₱30 loss. The share you hold is nevertheless worth less at that point.
It might recover. It might fall further. Calling the loss unrealized describes the position; it does not promise a recovery.
A pension fund invests over a long period, so selling every time prices fall would not automatically protect members. But holding an investment also needs a reason. "We have not sold" cannot, on its own, tell us whether keeping it is a sound choice.
WHAT TO WATCH
That is why the discussion has to move beyond whether the word "paper" makes the headline sound less alarming.
3
COA ASKED FOR CLEARER RULES ON WHEN MANAGERS MUST ACT
The audit points to a lack of formal stop-loss thresholds and calls for clearer loss limits, rules for raising concerns with senior officials, and documented decisions. It also recommends regular checks of how investments would fare in market downturns. [COA 2025 audit, opening letter (PDF pages 1–2)](https://www.sss.gov.ph/wp-content/uploads/2026/09/Item-10.a.-Annual-Audit-Report-on-the-SSS-for-the-Years-Ended-Dec-31-2025-and-2024-2_Compress_1.pdf)
These recommendations are not simply an instruction to sell everything that falls. COA also asks managers to explain decisions to retain investments after loss thresholds have been breached, including the expected recovery and the approval behind the decision.
WHAT TO WATCH
The question is whether the fund had clear safeguards and used them. A policy on paper is not enough if nobody can show when it prompted a review or a change.
4
SSS HAS AN ANSWER, BUT THE FIGURES NEED THE SAME TIME FRAME
SSS has defended its long-term investment approach. In its statement reported by BusinessMirror, it points to dividends and realized gains from major holdings, and says the pension fund remains able to meet its obligations. [SSS response reported by BusinessMirror](https://businessmirror.com.ph/2026/10/15/hounded-by-paper-loss-issue-sss-sticks-to-guns/)
That explanation belongs in the story. A company's share price can fall while it continues paying dividends. Looking only at the price decline can leave out part of what an investment earned.
The reverse is also true: citing dividends does not automatically answer every concern about a falling investment. We cannot subtract gains earned over many years from a loss measured at one date and call the comparison settled.
WHAT TO WATCH
Members need a clear account of the purchase cost, current value, income received, time held and reasons for keeping the investment.
5
MEMBERS DESERVE RECORDS, NOT PANIC OR BLANKET REASSURANCE
The audit finding does not establish that pensions are about to stop. SSS's assurance does not erase the weaknesses COA identified. [COA 2025 audit, opening letter (PDF pages 1–2)](https://www.sss.gov.ph/wp-content/uploads/2026/09/Item-10.a.-Annual-Audit-Report-on-the-SSS-for-the-Years-Ended-Dec-31-2025-and-2024-2_Compress_1.pdf)
WHAT TO WATCH
The same audit letter gives an unmodified opinion on the fair presentation of the financial statements while listing findings that need immediate action. Those two things can exist together. Fairly presented accounts are not a promise that every investment decision was good.
BOTTOM LINE
The follow-up should be specific: What safeguards have changed? Who checks investments that keep losing value? When may managers continue holding them, and who signs off? How will members know whether the changes are working?
For members, "nothing to worry about" is not a report. Neither is "the money is all gone."
The useful answer shows what happened, what remains at risk and what the people handling the fund have done about it.
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