SSS lays out key reforms for pensioners

February 17, 2025 | 12:00am

MANILA, Philippines — The Social Security System (SSS) will implement key reforms in 2025, including enhanced services for pensioners, lower interest rates on salary and calamity loans, as well as expanded coverage for self-employed professionals.

SSS president and CEO Robert Joseph de Claro said the agency is reviewing the guidelines of the Annual Confirmation of Pensioners (ACOP) program to streamline compliance processes and improve convenience for pensioners.

“We are reviewing our guidelines on the ACOP program in relation to the manner of compliance, requirements and other verification processes toward making the experience more convenient to pensioners,” he said.

He said the move comes in response to concerns raised by retirement pensioners aged 80 and above, who must comply with ACOP requirements under SSS Circular 2023-013 to continue receiving their benefits. Non-compliance results in suspension or cancellation of their pension. As of end-2024, SSS has 157,493 pensioners in this age group.

De Claro said the agency is analyzing the age and geographical distribution of pensioners and considering more accessible compliance methods, including home visits by SSS personnel.

In a bid to provide more financial relief to its members, SSS is also planning to reduce the interest rate on its salary and calamity loan programs, currently set at 10 percent per annum.

“Given the consistent, solid performance of SSS’ investment portfolio, it is now timely to revisit the interest rate of our salary and calamity loan programs toward reducing it to increase the cash proceeds from loan applications by qualified SSS members,” De Claro said.

The annualized return on investment of SSS ranged between 5.8 and 6.6 percent from 2021 to 2024, demonstrating resilience even during the COVID-19 pandemic.

To boost social security coverage, SSS is looking to improve collection compliance among self-employed professionals, such as accountants, doctors as well as engineers.

“We will also pursue better collection compliance from other groups of workers, particularly self-employed professionals, by coordinating and meeting with the Professional Regulation Commission to discuss opportunities for cooperation and ensure SSS coverage of such workers,” De Claro said.

He added that the planned initiatives align with SSS’ commitment to prioritizing service excellence while maintaining financial discipline and sustainability.

The SSS Management and Social Security Commission are set to finalize and implement these programs within this year.

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