MANILA, Philippines – The Social Security System (SSS) announced on Thursday that some P60 billion has been set aside in a bid to provide timely financial relief to members, pensioners, and employers in the wake of the rising energy costs due to the ongoing Middle East war.
The amount will be exclusively used by the agency as policy enhancements to improve accessibility and the early implementation of this year’s pension increase, SSS President and CEO Robert Joseph de Claro said.
He said in a statement emailed to The Manila Times that the initiative was in compliance with the directive of President Ferdinand Marcos Jr. and under the guidance of Finance Secretary Frederick Go, who is the Social Security Commission (SSC) chairman.
“We recognize that rising prices and economic uncertainty continue to place pressure on Filipino families and businesses. Through these enhanced programs, SSS is ensuring that our members and pensioners have access to timely, affordable and reliable financial support when they need it most,” de Claro said.
“Collectively, these programs are expected to provide up to approximately ₱60 billion in financial assistance and benefit support,” he pointed out.
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The SSS said the enhanced Emergency Loan Program was now offering ₱20,000 at a reduced interest rate of 7 percent per annum, with a six-month repayment moratorium.
To improve accessibility, SSS has relaxed the eligibility requirements from 36 to 18 months of posted contributions, with at least six contributions posted within the last 12 months, it said.
De Claro said the program now also covered members with minimal past-due loans of up to three monthly amortizations, as well as overseas Filipino workers (OFWs) through simplified eligibility requirements.
Expected to benefit about 2.24 million eligible members, the top SSS official said. Around ₱27 billion has been allocated for this particular program.
For Micro-Loan Program (MLP), he said the agency was set to roll out short-term loans ranging from ₱1,000 to ₱20,000 with repayment terms of 15 to 90 days and an affordable rate of 8 percent per annum.
The MLP will be delivered through digital platforms and partner financial institutions, enabling faster and more convenient access to funds, the SSS said.
Moreover, de Claro said the agency continued to implement the consolidation of past due short-term member loans with condonation of penalty program.
Under this program, de Claro said that penalties of unpaid loans were fully waived upon settlement of the principal and interest.
“Members may choose flexible payment options: one-time settlement or installment terms up to 60 months with a minimum down payment of 10 percent,” he said.
Meanwhile, he said the SSS is also providing relief to delinquent employers through penalty condonation and restructuring programs.
These include the Contribution Penalty Condonation, Delinquency Management, and Restructuring Program (CPCoDe MRP) for businesses and the Contribution Penalty Condonation and Restructuring Program (CPCR-P) for household employers, according to the SSS chief.
“These measures allow employers to settle contribution obligations through structured payment arrangements without additional penalties, ensuring continued social security coverage and protection for their employees,” de Claro stressed.
In support of pensioners, SSS is advancing the implementation of the scheduled 2026 pension increase under the SSS Pension Reform Program, from September to June 2026, providing earlier financial relief.
The SSS said retirement and disability pensions will increase by 10 percent while death and survivor benefits will increase by 5 percent.
De Claro said the early implementation is expected to release approximately ₱6.5 billion in additional benefits from June to August 2026, directly supporting millions of pensioners and their families.