SSS announces 10 percent pension increase, no contribution hike

MANILA, February 27 ------ The Social Security System (SSS) announced there will be a 10 percent pension increase this year and another one in 2027 with no contribution hike. At the "Meet with the Press" event, Finance Secretary Frederick Go, who is also chairperson of the Social Security Commission, said that the Pension Reform Program continues. SSS pensioners got a 10 percent increase in 2025 and will also have hikes in September this year and September next year. “We will increase pension by 10 percent this year and we will increase pension by 10 percent next year,” Go said, referring to the retirement and disability pensioners.

For the death and survivor pensioners, pensions will rise 5 percent every year until 2027. SSS President and Chief Executive Officer Robert Joseph De Claro clarified that despite pension increases, there will be no hike in the contribution of members. This is because of the good financial standing of the agency, which hit a record high P1 trillion in reserve funds last year. “Wala hong contribution increase until 2027,” De Claro said.

The state-run pension fund's net income also grew by 58.4 percent in 2025 to P142.9 billion from P90.2 billion in 2024. Revenues also rose by 21.4 percent to P460.7 billion in 2025 from P379.6 billion in 2024. Bulk of the revenues is from the members’ contributions. “The SSS is now the most profitable GOCC,” Go added.

Because of the financial growth of SSS, the agency will soon launch a microloan program, possibly in the second quarter of the year. Loan amount will be from P1,000 to P20,000 with only an 8 percent interest per year or roughly 0.67 percent interest per month. Go said this is to combat predatory lending practices, which usually implement a 12 to 15 percent interest per month. “The micro loan is really our answer to the predatory lending that a lot of our fellow Filipinos suffer from. We really created this to address what they call the payday loan,” Go added.

SSS is now in talks with banks, so members do not need to go to an SSS branch to avail of the micro loan. They can just go to the hundreds of branches of partner banks nationwide or through the mobile app. “Nag-uutang na nga siya kasi hirap siya tapos papahirapan pa natin siya, so we’re trying to make it easy for everybody,” Go said. De Claro added, “Hindi na mahihirapan ang members sa pang tawid gastos. This is a facility given to them.”

SSS is confident of further growth in 2026 as they encourage more Filipinos to become members. SSS is also eyeing to possibly invest abroad since currently all its investments are local. In 2025, SSS investment income grew 57.1 percent to P83.1 billion.

Source: news.abs-cbn.com