Based on the agency’s annual corporate plan for 2020, the focus will be on income generation.92 The primary thrust will be contribution collection (short term) and an increase in investment income. (long term) With the passage of the SS Act of 2018, it frees the agency from political interventions 93 and hopefully will result in a more streamlined service and better implementation of its programs. 94 As designed by its charter, the GSIS is social insurance institution under a defined benefit scheme. It insures its members against the occurrence of certain contingencies in exchange for their monthly premium contributions. These premium-based schemes protect households from lifecycle and health related risks. 95 It also administers the Employees’ Compensation (EC) Benefits Program for the public sector as mandated by Presidential Decree (PD) 626, as amended. It is a program that provides adequate income, medical and other related benefits to employees and their dependents in the event of work-connect disability or death. 96 Key performance indicators for the agency are contained in the 2019 Performance Scorecard of GSIS as committed to the State through the submission to and approval by the Governance Commission for GOCCs. These indicators include, among others, the processing of social insurance and general insurance claims within the turn-around time prescribed by the Ease of Doing Business Act.97 GSIS has identified ‘Service Quality’ and ‘Sound Financial Management’ as the areas the system needs to excel in order to ensure the attainment of its mandate and vision. These themes apply to every part of the system and defines the major strategic 92 Consultation with SSS Main office (5 March 2019) 93 Under the new law, it allows the Social Security Commission or the policy-making body of the pension fund to adjust contribution rates and monthly salary credits of its members without the president’s approval. 94 Ibid. 95 Based on answers sent by the agency through email. Available from https://drive.google.com/open?id=1-TtV12d8o6Mh-9CNIJZ9i6OdKpDTOyp4 96 Ibid. 97 Ibid. 24