4 days ago
Marcos Endorses Historic SSS Pension Hike, Cites Economic Growth
President Ferdinand Marcos Jr. has expressed full support for the Social Security System's (SSS) newly approved three-year pension reform program, describing it as both financially responsible and long overdue for Filipino retirees. The president emphasized that the Philippines can afford the increase due to the country's growing workforce and economic base.
The structured pension hike is set to begin in September 2025 and will benefit over 3.8 million pensioners. It comes after extensive discussions between Marcos and Finance Secretary Ralph Recto, who also chairs the Social Security Commission. The reform was approved under Resolution 340-s. 2025 and is based on actuarial studies to ensure sustainability.
In a podcast interview, Marcos addressed concerns about the pension fund's longevity, saying responsible financial management would sustain the program. While the fund life will be slightly reduced from 2053 to 2049, he emphasized that the increase will not require higher contributions from members. Instead, the reform is designed to balance social support with fiscal soundness.
SSS President and CEO Robert Joseph de Claro hailed the reform as a landmark development in the agency's 68-year history. He said the pension hike reflects the SSS's responsiveness to public demand and economic realities. The reform is projected to inject ₱92.8 billion into the economy over two years, while improving the quality of life for millions of retirees.
