SSS advances release of 2026 pension hike

By Ernie Delgado

LEGAZPI CITY --- Following President Ferdinand “Bongbong” Marcos Jr.’s directive to the Social Security System (SSS) to support its members and pensioners, as well as employers, amid the escalating cost of living, the SSS will raise pensions three months earlier than planned, expand access to its loan programs, and offer loan penalty condonation.

These relief measures have been allocated a budget of P60 billion to assist workers, pensioners, and employers who are struggling with higher prices of food, transportation, fuel, and electricity, and the broader economic impacts of ongoing conflicts in the Middle East, according to Jeanette Torallo-Mapa, the SSS ad hoc communication officer for the Bicol region.

During the Ugnayan sa Bicol briefing on Wednesday, Mapa said that to help pensioners, the SSS will provide an advance of its 10 percent pension increase for 2026.

“This 10 percent increase, initially scheduled for release in September 2026, will now be given out in June as part of the ongoing relief program,” Mapa said.

For example, if a pensioner currently receives P10,000, their monthly pension will increase to P11,000 beginning this June, she explained.

Additionally, death and survivor benefits will also rise by 5 percent, she added.

Aside from increasing pensions, Mapa said that the SSS is continuing its initiative to condone penalties for members with unpaid short-term loans.

Through the Consolidation of Past Due Short-Term Member Loans with Penalty Condonation Program, penalties may be fully waived once members pay the principal and interest of their loans, she said.

Members can opt to pay in full or choose installment terms of up to 60 months with a minimum down payment of 10 percent, she added.

Mapa also announced expanded loan assistance programs designed to provide quicker and more affordable access to funds.

Under the enhanced Emergency Loan Program, eligible members can borrow up to P20,000 at a reduced interest rate of 7 percent per annum, along with a six-month repayment moratorium, she said.

Mapa said the SSS has also eased eligibility requirements by lowering the required posted contributions from 36 months to 18 months, as long as members have at least six contributions within the last 12 months.

This program now includes members with minimal past-due loans of up to three monthly amortizations and incorporates overseas Filipino workers through simplified eligibility criteria, she added.

Mapa emphasized that the program aims to offer a safer and more affordable alternative to informal lenders, helping borrowers address urgent expenses such as medical bills, education, and daily household needs.

For employers, Mapa said the SSS is extending relief measures for contribution delinquency through penalty condonation and restructuring programs.

These include the Contribution Penalty Condonation, Delinquency Management, and Restructuring Program for businesses, as well as a separate program for household employers, she added.

“These measures will enable employers to resolve unpaid contribution obligations through structured payment arrangements without incurring additional penalties, while ensuring continued social security coverage for workers,” she said.

Mapa said that the expanded assistance programs follow President Marcos’s directive to provide timely financial relief to members, pensioners, and employers, while ensuring the long-term sustainability of the pension fund. (PIA Bicol)