HOUSE OF REPRE!

Republic of the Philippines =
HOUSE OF REPRESENTATIVEs  RECEFVED

Constitution Hills, Quezon City] pare:__1 2 JUL 2016
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SEVENTEENTH CONGRESS
First Regular Session

REGISTRATION UNIT
1437 | BWLS AND ihveX SERVICE

HOUSE BILL NO.

Introduced by Representative Salvador B. Belaro Jr.

EXPLANATORY NOTE

This Act seeks to establish a mutual fund for teachers so as to ensure the
financial security of our educators by facilitating their availment of one of the
contemporary and practical financial tools of modern times ~ the mutual fund.

The reality however is that our teachers, considering their present
salaries, may not be in a position to avail of mutual funds or of any investment
for that matter. However, the State may make that possible by providing an
initial fund for such purpose and intervene in the designation of a government
bank that will manage said fund,

For the State to live up to its policy of giving importance to education, the
welfare of teachers should be taken cared of not only through outright salary
increases but also through creative and practicable means available in the
market. That way, the teaching profession would be able to attract many of the
country’s best minds to enable it to continue educating the human resources of

our country.

ATTY. SALVADOR B. BELARO, JR.
Representative
1-Ang Edukasyon Party List



Republic of the Philippines
HOUSE OF REPRESENTATIVES
Constitution Hills, Quezon City

SEVENTEENTH CONGRESS
First Regular Session

HOUSE BILL NO._1427

Introduced by Representative Salvador B. Belaro, Jr.

AN ACT
ESTABLISHING AN EDUCATION MUTUAL FUND

Be it enacted by the Senate and the House of Representatives of the Philippines
in Congress assembled:

SECTION 1. Short Title. This Act shall be known as the “Education Mutual
Fund Act of 2016..”

SEC. 2. Declaration of Policy. a) The State recognizes the indispensable role of
teachers in educating our citizenry. It is thus but fitting that the State ensure that
the teaching profession attract the best and the brightest by making teachers’
compensation and benefits reasonably competitive.

b) In this regard, it is essential that the financial security of the
teaching profession be secured by contemporary and available means such as
facilitating their investment in mutual funds, an investment security type that
enables investors to pool their money together into one professionally managed
investment.

SEC. 3. a) Upon approval of this Act, the Department of Education,
Commission on Higher Education (CHED) and Technical Skills Development
Authority (TESDA) shall create an Education Mutual Fund Committee that
shall study, formulate and issue guidelines for the orientation of teachers on the


importance of mutual funds, and thereafter, the creation of a mutual fund for
educators, including the selection of the appropriate government banking
institution that will manage said fund.

SEC. 4. The Department of Education, Commission on Higher Education and
the Technical Education and Skills Development Authority shall include in its
programs the provision of free financial education seminars to teachers that
would include an orientation on the ramifications of investments such as mutual
funds.

SEC. 5. The funds necessary to carry out the provision of this Act shall be
included in the General Appropriation Act of the year following its enactment
into law and thereafter.

SEC. 6. All laws, orders, issuances rules and regulations or parts thereof
inconsistent with any provisions of this Act are hereby repealed, modified or
amended accordingly.

SEC. 8. This Act shall take effect upon its approval

Approved.