SSS rolls out pension hike, keeps contribution rate steady

More than 3.9 million pensioners will see their monthly benefits rise anew as the Social Security System (SSS) announced that they will roll out another round of increases under a three-year reform plan, without imposing higher contributions on members.

Department of Finance Secretary Frederick Go confirmed during a press meeting on Feb. 26, that retirement and disability pensioners will receive a 10-percent increase in 2026 and 2027. 

“We will increase the pension by 10 percent this year and we will increase the pension by 10 percent next year,” Go stated.

The hike will be effective in September this year, following the reform timeline that calls for pension adjustments to be made every September between 2025 and 2027.

Death and survivorship pensioners will receive a five-percent annual increase throughout the same period.

SSS President and Chief Executive Officer Robert Joseph De Claro said there will be no hike in member contributions despite the pension adjustments due to the pension fund’s strong financial performance.

“Wala hong contribution increase until 2027,” De Claro said.

By the numbers

The pension fund reported that its reserve fund surpassed P1 trillion in 2025, with total assets growing 22.1 percent to P1.261 trillion from P1.033 trillion in 2024. 

Net income reached P142.97 billion, up 58.4 percent from P90.248 billion a year earlier, while total revenues rose 21.4 percent to P460.61 billion.

The bulk of revenues, amounting to P377.6 billion, came from members’ contributions, reflecting a 15.6 percent increase year-on-year. 

In addition, income from investments also climbed, while total expenditures reached P317.791 billion, most of which went to benefit payments for members and pensioners.

Cumulative increases are anticipated to reach approximately 16 percent for death and survivorship pensioners and 33 percent for retirement and disability pensioners at the conclusion of the three-year reform period.