Social Security System (SSS) members and pensioners received good news last week. As the state-run pension fund recorded a sharp hike in net income to ₱143 billion — and its reserve fund also hit the ₱1-trillion mark for the first time in the state insurer’s history — SSS President and CEO Robert Joseph Montes announced that the ten percent yearly increases for retirement and disability pensions and five percent for survivor pensions that were given starting in 2025 will be implemented through 2027.

This unprecedented three-year boon to workers and retirees mitigates the sluggish GDP growth performance as well as the less than robust outlook for the economy for the next three years.

Aside from granting ₱304.9 billion in pensions and benefits to some 5.7 million members last year, the SSS extended ₱61.1 billion in loans to workers and their families. Moreover, loan access was given to an additional 1.2 members, just as the pension loan program was expanded to include survivor pensioners.

The declaration of record net income and the extending of substantial benefits over a three-year period to members reaffirms the State’s solemn covenant with Filipino workers. Built on solidarity, sustained by contributions and safeguarded by prudent stewardship, the attainment of record income levels and the provision of substantial benefits manifests the that the government’s commitment is guaranteed not just for the present but for future generations.

Social security’s core purpose is to provide social safety nets for millions of workers in the formal and informal sectors. It spells the difference between vulnerability and stability: keeping food on the table, medicines within reach, and grandchildren in school. Maternity and sickness benefits cushion income shocks. These are not abstract concepts, but lifelines integrated into the daily lives of Filipino families.

The attainment of record net income reflects institutional discipline. Prudential fund management brings about strong investment performance. Hence, the fund’s actuarial life is enhanced, thereby assuring members that social insurance is financially sustainable.

Moreover, retirees are sufficiently assured that their pensions are secure and that further improvements in benefits could be expected. Active members could appreciate the value of their sustained contributions. As the country struggles to rein in factors that could lead to inflation surges, the reliability of a pension system shelters members from economic headwinds.

Social security does not only equate with social protection. In a broader sense, it provides quiet economic stimulus, as members’ spending circulates through towns and cities throughout the archipelago. This supports local enterprises, neighborhood groceries, pharmacies and transport services.

As it fortifies its stability, the challenge to the SSS is to build on the momentum by expanding coverage, especially among informal workers and micro-entrepreneurs. By strengthening digital access and service delivery, efficiency of services will be upgraded and benefit extended will be more responsive.

As the SSS takes pride in achieving record earnings, it must rededicate itself to assuring that the lives of members have been uplifted and their secured futures will be sustained for decades to come.

When the Social Security System performs well, it more than pays benefits. It affirms the dignity of labor and honors the promise that those who have worked hard all their lives will not be left behind.