A MEASURE that seeks to establish a program to secure the financial capacity of teachers was filed at the House of Representatives by Rep. Gabriel Bordado Jr.

The lawmaker from the third district of Camarines Sur said that House Bill 5092 or the proposed Educational Mutual Fund Act aims to make teachers financial savvy and help them make investments.

Bordado emphasized the need to find ways to give assistance to teachers who play an integral part in shaping the minds of the youth.

In his explanatory note, the lawmaker said that with the current salary of teachers, some might find it difficult to set aside some amount for investments.

“Without such capacity, some wishing to go into the teaching profession might be dissuaded and some teachers might leave the profession to look for better opportunities,” he said.

“Benefits extended to teachers should not stop at salary increases alone but should also include access to other financial instruments like mutual funds that could guarantee a more financially stable future,” he added.

House Bill 5092 mandates the Department of Education, Commission on Higher Education and the Technical Education Skills and Development Authority to create an Education Mutual Fund Committee.

The committee shall study, formulate, and issue guidelines for the orientation of teachers on the importance of mutual funds, and create a mutual fund for educators, including the selection of the appropriate government banking institution that will manage it.

The bill also mandates the DepEd, CHED and TESDA to hold free financial education seminars to teachers.