Marcos Jr. confident SSS can fund pension hikes without added contributions

President Ferdinand Marcos Jr. is confident that the Social Security System (SSS) can sustain its multiyear pension hikes without additional member contributions.

The pension adjustments, approved by the Social Security Commission, will be implemented in three annual tranches every September, starting September 2025 and continuing until 2027.

Retirement and disability pensioners will receive a 10% increase annually, while death and survivor pensioners will receive a 5% raise annually.

This reform is the first multi-year pension adjustment in the SSS's 68-year history and is projected to reduce the fund's life from 2053 to 2049.

Marcos believes the growing working population will ensure the SSS fund continues to grow and potentially surpass the Government Service Insurance System (GSIS) fund.

Finance Secretary Ralph Recto noted that the pension reform is expected to alleviate poverty for around 3.8 million Filipino families and boost economic growth.