The desk displaying the three-year SSS pension reform bundle.
MANILA – State-run Social Safety System (SSS) mentioned it is going to implement a Pension Reform Program which contains a structured, three-year pension enhance for all of its pensioners.
In an announcement Thursday, SSS mentioned the rise is in step with the directive of President Ferdinand R. Marcos Jr.
It goals to uplift all pensioners by way of inclusive profit changes, assist them recuperate inflation, and promote the worth of working and saving.
The SSS pension hike can be applied in three annual tranches each September.
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Retirement and incapacity pensioners as of Aug. 31 this yr could have a ten p.c enhance beginning September.
Dying or survivor pensioners will even have a 5 p.c enhance in pension.
Pensioners as of Aug. 31, 2026 and as of Aug. 31, 2027 will even obtain the identical enhance starting September 2026 and September 2027.
“After three years, pensions could have elevated by roughly 33 p.c for retirement or incapacity pensioners and 16 p.c for dying or survivor pensioners,” SSS mentioned.
The state pension fund for the personal sector additionally launched a desk illustrating the estimated pension enhance for pattern instances over the three-year implementation interval (2025 to 2027).
The SSS Pension Reform Program was authorized by the Social Safety Fee (SSC) underneath Decision No. 340-s.2025 dated July 11, 2025.
Corresponding SSS Round on the Program shall be revealed accordingly in a newspaper of normal circulation.
“We’ve heard the clamor for greater pensions loud and clear,” mentioned SSS President and CEO Robert Joseph de Claro.
“With the steerage of Finance Secretary and SSC Chairperson Ralph G. Recto, and after cautious actuarial evaluation, we’re rolling out a rational and sustainable pension enhance that uplifts all pensioners with out compromising the fund’s actuarial soundness,” he added.
The SSS mentioned the reform program wouldn’t necessitate any contribution enhance and is predicted to profit 3.8 million pensioners together with 2.6 million retirement and incapacity pensioners and 1.2 million survivor pensioners.
It’s projected to inject P92.8 billion into the economic system from 2025 to 2027.
The reform will even lead to solely a manageable discount of fund life from 2053 to 2049, offset by stronger money flows from earlier contribution reforms and enhanced assortment efforts.
“Our actuarial staff confirms that the fund stays financially sound,” De Claro mentioned.
“We’re dedicated to restoring fund life again to 2053 by way of protection growth and improved assortment effectivity,” he added. (PNA)
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