SSS pension reform program launched

MANILA, Philippines — President Marcos yesterday led the launch of a landmark reform program that will raise the pensions of 3.8 million Social Security System (SSS) beneficiaries over the next three years without requiring additional contributions.

The SSS pension reform, which took effect this month, grants a 10-percent increase for retirement and disability pensioners, a five-percent hike for survivorship pensioners and higher benefits for dependents.

The adjustments will be rolled out in three yearly tranches every September from 2025 to 2027.

According to the SSS, the reform program “marks a historic step toward a more inclusive and responsive social security system – one that protects the dignity and well-being of Filipino retirees and their families.”

Unlike the P1,000 additional benefit allowance given to all pensioners in 2017, which required higher contributions to restore financial stability to the fund, this initiative will not entail any contribution increase.

Marcos said the pension reform would release P93 billion to 3.8 million beneficiaries within three years, helping them purchase medicines, food and other essentials.

He reminded officials and personnel of both the SSS and Government Service Insurance System (GSIS) to provide timely assistance to their members.

“Let us not forget that each member’s contribution is a fruit of their efforts and sacrifice,” the President said during the ceremonial launch in Quezon City.

“And that is why I direct the leadership of these two institutions to guard this trust with the highest integrity and vigilance,” he added.

The President also called on state pension funds to invest wisely, modernize their systems and streamline their processes to make services more accessible, whether through digital platforms, help desks or kiosks in remote areas.

“To our pensioners, plan your future wisely. Coordinate with the SSS and GSIS so you can prepare your pension and the benefits of your loved ones. Let us support programs like this by giving our trust and the right contributions so we can enhance our social security systems,” he added.