By Anna Leah Gonzales | Philippine News Agency
State-run Social Security System (SSS) said it will implement a Pension Reform Program, which features a structured, three-year pension increase for all of its pensioners.
In a statement Thursday, SSS said the increase is in line with the directive of President Ferdinand R. Marcos Jr.
It aims to uplift all pensioners through inclusive benefit adjustments, help them recover from inflation, and promote the value of working and saving.
The increases will be implemented in three annual tranches every September.
Retirement and disability pensioners as of Aug. 31 this year will have a 10% increase starting September.
Death or survivor pensioners will also have a 5% increase in pension.
Pensioners as of Aug. 31, 2026 and as of Aug. 31, 2027 will also receive the same increase beginning September 2026 and September 2027.
“After three years, pensions will have increased by approximately 33 percent for retirement or disability pensioners and 16 percent for death or survivor pensioners,” SSS said.
The state pension fund for the private sector also released a table illustrating the estimated pension increase for sample cases over the three-year implementation period (2025 to 2027).
The SSS Pension Reform Program was approved by the Social Security Commission (SSC) under Resolution No. 340-s.2025 dated July 11, 2025.
Corresponding SSS Circular on the Program shall be published accordingly in a newspaper of general circulation.
“We’ve heard the clamor for higher pensions loud and clear,” said SSS President and CEO Robert Joseph de Claro.
“With the guidance of Finance Secretary and SSC Chairperson Ralph G. Recto, and after careful actuarial review, we are rolling out a rational and sustainable pension increase that uplifts all pensioners without compromising the fund’s actuarial soundness,” he added.
The SSS said the reform program would not necessitate any contribution increase and is expected to benefit 3.8 million pensioners, including 2.6 million retirement and disability pensioners and 1.2 million survivor pensioners.
It is projected to inject P92.8 billion into the economy from 2025 to 2027.
The reform will also result in only a manageable reduction of fund life from 2053 to 2049, offset by stronger cash flows from previous contribution reforms and enhanced collection efforts.
“Our actuarial team confirms that the fund remains financially sound,” De Claro said.
“We are committed to restoring fund life back to 2053 through coverage expansion and improved collection efficiency,” he added.
