SSS Unveils 2025 Plans: Better Services, Lower Loan Rates

The Social Security System (SSS) announced that it is working to improve services for pensioners, to reduce the interest rate on its salary/calamity loan programs, and to pursue self-employed coverage.

Better service for pensioners

“We are reviewing our guidelines on the Annual Confirmation of Pensioners (ACOP) Program in relation to manner of compliance, requirements, and other verification processes toward making the experience more convenient to pensioners,” SSS President and Chief Executive Officer Robert Joseph M. De Claro said.

He said that such review is in reaction to experience and sentiments of retirement pensioners residing in the Philippines who are 80 years old and above who have to comply with current guidelines on ACOP under SSS Circular No. 2023-013 dated 21 December 2023 to ensure continuous receipt of their pension benefit.  Non-compliance will result in suspension or cancellation of the benefit.  As of end-2024, there are 157,493 such pensioners of SSS.

“Our review of the current guidelines and profile of pensioners include analysis of age and geographical distribution of SSS pensioners, all possible means for ACOP compliance, and available SSS resources to facilitate convenient and easy compliance – including visit to home address by designated SSS branch or office personnel,” De Claro explained.

Lower interest rate for salary and calamity loans

In the pipeline also for 2025 is the reduction of interest rate on the salary loan and calamity loan programs of SSS.  Currently, the interest rate for such loan programs is at 10% 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 also said.

SSS’ annualized Return on Investment (ROI) from 2021 to 2024 ranged between 5.8% to 6.6%, performing well even through the Covid-19 pandemic.

Pursue coverage of self-employed

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

“These plans and programs reiterate our message last month prioritizing service excellence first and foremost while ensuring financial discipline and sustainability through an empowered SSS workforce,” De Claro added.

SSS Management and the Social Security Commission (SSC) will be tackling these plans/programs and ensure implementation within 2025.