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Manila Bulletin devider Business devider Banking & Finance devider Amid higher contribution rate, SSS grows net income by 47% to ₱66.5 billion in H1 2025

Amid higher contribution rate, SSS grows net income by 47% to ₱66.5 billion in H1 2025

Published Jul 28, 2025 12:00 am  |  Updated Jul 26, 2025 02:48 pm
With a one-percentage-point (ppt) hike in members’ contribution rate to 15 percent that took effect this year, the Social Security System (SSS)—the state-run pension fund for private-sector workers—grew its net income by 46.9 percent to ₱66.45 billion in the first half of 2025.
The SSS’ latest condensed statement of comprehensive income, seen by Manila Bulletin, showed that its first-half net income jumped from ₱45.22 billion in the first six months of 2024.
This mainly came on the back of a total end-June income—service and business income, investment gains, and other non-operating income—that rose 14.5 percent to ₱229.6 billion from ₱200.5 billion in the same period last year.
The SSS posted service and business income—which included members’ contributions—of ₱217.1 billion during the first half of 2025, up from almost ₱190 billion a year ago.
A separate condensed statement of cash flows showed that SSS members’ contribution climbed to ₱187.4 billion at end-June from a year ago’s ₱164.5 billion.
Under Republic Act (RA) No. 11199 or the Social Security Act of 2018, the Social Security Commission (SSC)—the SSS’ highest policy-making body—jacked up members’ monthly contribution rate to 15 percent in 2025.
The amended SSS charter has been increasing the contribution rate—from 11 percent prior to RA 11199—to 12 percent in 2019, 13 percent in 2021, and 14 percent in 2023.
Under the said law, the SSC can implement contribution rate hikes even without the President’s approval. In the past, only the country’s chief executive could impose rate adjustments.
At present, Finance Secretary Ralph G. Recto chairs the SSC.
With RA 11199 in place, the SSS’ fund life had been projected to last at least until the year 2054.
Six-month gains from investment activities also increased to ₱12.3 billion from over ₱10 billion a year ago.
Under RA 11199, the SSS can invest as much as 15 percent of its investment reserve fund. Prior to this law, which amended the SSS charter in 2019, the foreign-investment cap used to be just 7.5 percent of the fund.
The growth in total income outpaced the five-percent rise in total end-June expenses—including benefit payments, personnel services, maintenance and other operating expenses (MOOE), financial expenses, and non-cash expenses—to ₱163.1 billion from ₱155.3 billion a year ago.
Benefit payments to pensioners and members rose to ₱145.7 billion in the first six months of 2025 from nearly ₱139 billion during the same period last year.
The latest condensed statement of financial position of the SSS showed that its assets increased to ₱1.15 trillion as of end-June 2025 from end-2024’s ₱1.03 trillion.
The SSS’ audited 2024 financial statements, posted on its website last week, showed that last year’s net income before changes in policy reserves grew 8.6 percent to ₱90.25 billion from ₱83.13 billion in 2023.
End-2024 assets jumped from ₱888.69 billion at end-2023.

Related Tags

Social Security System (SSS) Ralph G. Recto Social Security Commission (SSC)
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