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Manila Bulletin devider Business devider Banking & Finance devider SSS chief eyes ₱2-trillion reserve fund before Marcos admin ends

SSS chief eyes ₱2-trillion reserve fund before Marcos admin ends

Published Feb 26, 2026 04:02 pm

After crossing the ₱1-trillion threshold in 2025, the chief of the Social Security System (SSS), the state-run pension fund for private-sector workers, is setting his sights on building a ₱2-trillion reserve fund before the Marcos Jr. administration ends, driven by solid financial gains.

SSS President and Chief Executive Officer (CEO) Robert Joseph M. De Claro told a press briefing on Thursday, Feb. 26, that his aspiration for the “most profitable” state-owned company is to double its reserve fund by 2029.

“My dream is that before the end of the administration, we reach ₱2 trillion. That is my personal goal,” De Claro said, but he emphasized that this goal still aims to protect their stakeholders. “We will not squeeze our SSS members just to achieve that target.”

De Claro, meanwhile, sounded upbeat about hitting such a level as the SSS has embarked on that trajectory.

“As you know, we came from the pandemic, and we saw significant exponential growth after that period. I believe the road to ₱2 trillion is getting closer. We are on track to reach that level within the next three to four years,” he said.

As of end-2025, SSS grew its reserve fund to ₱1.07 trillion, exceeding the ₱1-trillion mark for the first time in the state insurer’s history.

This, according to the Department of Finance (DOF), enables the SSS to withstand economic shocks, handle pressures from the growing number of retirees, and meet future benefit obligations.

De Claro explained that its solid financial performance in 2025 would secure the release of the second and third tranches of pension hikes through 2027. He likewise reiterated that the SSS will not impose contribution hikes until 2027.

“There will be no increase in contributions, and I’d like to reiterate this: until 2027, SSS will not implement any contribution hikes,” De Claro said. Afterward, he said lawmakers could review the current rule and decide whether to increase member contributions.

As mandated under Republic Act (RA) No. 11199 or the Social Security Act of 2018, the Social Security Commission (SSC) jacked up members’ monthly contribution rate to the maximum of 15 percent in 2025. The SSC is the SSS’s policy-making and governing body.
RA 11199 increased the contribution rate 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.

DOF Secretary and SSC Chair Frederick D. Go also said that this concern remains off the table. 

Meanwhile, the SSS has launched its micro pension loan with an interest rate of eight percent, significantly lower than the double-digit rates charged by predatory cash lenders. The insurer is eyeing the disbursement of ₱40 billion, citing its strong performance.

“Given the robust performance, we are looking at releasing around ₱40 billion in the SSS microloan program,” said De Claro.

De Claro said the SSS, as it regularly does, is assessing the impact of the Bangko Sentral ng Pilipinas’ (BSP) move to lower the key borrowing rate to 4.25 percent. He said the assessment would help them decide whether to adjust lending rates.

“What’s important is to note that the eight percent came down from 10 percent, and the seven percent also came down from 10 percent. We lowered these rates last year,” he said.

The SSS booked a sharp surge in net income to ₱143 billion in 2025, 58.4 percent higher than the ₱90.3 billion recorded in 2024, fueled by improved collection efficiency and prudent fund management.

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