President Ferdinand R. Marcos Jr. on Wednesday announced that more than 3.8 million pensioners will benefit from a historic multi-year increase in Social Security System (SSS) pensions starting this September.

During the ceremonial launch of the SSS Pension Reform Program held at the SSS Main Office in Quezon City, Marcos emphasized the government’s commitment to protect and reward Filipino workers in their retirement years.

This initiative marks the first time in the SSS’s 68-year history that pension increases will be rolled out over multiple years.

Under the reform, retirement and disability pensioners will receive a 10 percent increase annually, while death or survivorship pensioners will get a 5 percent yearly hike from 2025 to 2027.

“Taon-taon itong tataas hanggang 2027 nang walang dagdag na kontribusyon mula sa mga miyembro ng SSS (This will increase annually until 2027 without additional contributions from SSS members),” Marcos said.

The increase, which covers retirees, dependents, and surviving beneficiaries, is expected to inject about PHP 93 billion into the economy over three years, helping pensioners afford basic needs, such as food and medicine.

The President said this is part of government efforts to ensure “ginhawa sa Bagong Pilipinas” (comfort in the New Philippines), reflecting fair and timely social protection.

The SSS has assured that the pension hike would not require any increase in member contributions, unlike the PHP1,000 across-the-board benefit granted in 2017, which led to subsequent hikes in contributions to maintain the fund’s viability.

The event also marked the declaration of National Pensioners’ Week, to be observed every second week of September. (PNA)