SSS allocates P60 billion for financial aid, benefit support to help ease war pain

THE SOCIAL Security System (SSS) is setting aside some P60 billion in financial assistance and benefit support for its existing programs and advancing this year’s scheduled hike in pensions to help its members deal with the impact of the Middle East conflict.

“We recognize that rising prices and economic uncertainty continue to place pressure on Filipino families and businesses. Through these enhanced programs, SSS is ensuring that our members and pensioners have access to timely, affordable and reliable financial support when they need it most,” SSS President and Chief Executive Officer Robert Joseph M. de Claro said in a statement on Thursday.

The pension fund will implement this year’s pension hike in June, earlier than the original September schedule. Under the SSS Pension Reform Program, retirement and disability pensions will increase by 10%, while death and survivor benefits will increase by 5%.

This will result in the release of approximately P6.5 billion in additional benefits from June to August.

The SSS is also rolling out policy enhancements to improve its programs’ accessibility.

For the emergency loan program, it has eased eligibility requirements to 18 months from 35 months of posted contributions, with at least six contributions posted within the last 12 months.

“The program now also covers members with minimal past-due loans of up to three monthly amortizations, as well as overseas Filipino workers through simplified eligibility requirements,” the SSS said.

The state pension fund has allocated around P27 billion for the program, which is expected to benefit 2.24 million eligible members.

It also continues to implement its loan consolidation, restructuring, and contribution penalty condonation programs for members, businesses, and household employers.

Meanwhile, it will launch a short-term loan program with loanable amounts ranging from P1,000 to P20,000 with repayment terms of 15 to 90 days and an 8% per annum rate. The SSS aims to expand its loan portfolio under the program to P40 billion within the next two years.

The SSS recorded a net income of P142.97 billion in 2025, surging by 58.4% from P90.248 billion in 2024. — AMCS