Marcos Embraces SSS Fund Impact Amid Pension Hike
President Ferdinand Marcos Jr. expressed that it is perfectly acceptable if the planned three-year pension increase for Social Security System (SSS) pensioners leads to a reduction in the agency’s fund. This perspective highlights the government’s commitment to improving benefits despite financial adjustments.
In the latest episode of the PBBM Podcast titled “Sa Likod ng Sona”, Marcos reiterated that the proposed Pension Reform Program will not require additional contributions from SSS members. This reassurance aims to ease concerns about the sustainability of the SSS fund amid benefit enhancements.
Growing Population Supports SSS Fund Growth
“Well, that’s fine because the SSS is growing anyway. Our population is growing. Our working population is growing. So, ‘yun ang bawi doon,” Marcos said, emphasizing that the expanding workforce will compensate for any short-term dips in the fund.
He further pointed out that the SSS fund is expanding robustly, projecting it to surpass the Government Service Insurance System (GSIS) fund in size in the near future. This outlook underscores the long-term sustainability of the SSS despite pension increases.
Details of the Pension Reform Program
In July, the SSS announced its Pension Reform Program, which includes a structured three-year increase in pensions for all beneficiaries. The initiative aims to provide inclusive benefit adjustments to support pensioners amid rising inflation.
The program also seeks to promote the value of work and saving, ensuring that pensioners receive fair support without burdening current contributors. Local sources noted that this approach balances financial health with social responsibility.
For more news and updates on Social Security System pension increase, visit Filipinokami.com.
