SSS targets P2 trillion reserve by 2030

The Social Security System (SSS) is eyeing a P2 trillion reserve fund by 2030, according to SSS President and CEO Robert Joseph de Claro.

Speaking at a press conference at the state pension fund’s headquarters in Quezon City, de Claro said the objective remains attainable given the SSS’s post-pandemic growth and record financial performance in 2025.

“I think the road to [a reserve fund of] P2 trillion is getting near. I think we are on track within the next three to four years to reach P2 trillion,” he said.

De Claro’s comments follow the SSS’s record financial performance in 2025, when its Reserve Fund—its primary safeguard to ensure pensions and benefits are paid out to members—surpassed the P1 trillion mark for the first time.

Consisting mainly of contributions from employees, employers, and self-employed individuals, as well as investment income, de Claro said expanding its 43 million members remains crucial for initiatives such as growing the reserve fund and supporting programs like the upcoming microloan initiative.

“With the new programs of SSS, the intention really is to have more people, more members, being part of SSS and contributing more to the institution,” he said.

The SSS chief added that closing the gap between overseas Filipino workers (OFWs) who are members and those who are not is also part of the strategy to reach the P2 trillion target.

“Today we have about a million OFWs registered in SSS,” he said. “But if you consider the number of Filipinos outside, [based on] just OWWA data alone, we're talking about almost 3 million. So if we’re able to close that gap, then revenue should increase exponentially.”

On the investment front, de Claro noted that the state pension fund is exploring potential foreign investments in the future, which could help increase the reserve fund. Under the SSS charter, the agency may invest up to 7.5 percent of its investment reserve fund in international assets. However, de Claro said the SSS has yet to do so, with all current investments remaining domestic.

“When we talk about investments, I think because we had a good performance in 2025, we have initiated a study to start with our international investment opportunities,” he said. “This enables us, not in bulk, but maybe this will jumpstart our investments outside of the country,” he added.

The agency reported that investments and other income rose 57 percent year on year to P83.161 billion, while members’ contributions reached P377.6 billion, up 15.6 percent year on year.

De Claro clarified that while the SSS has been rolling out new initiatives aimed at strengthening the reserve fund, there will be no contribution hike until 2027.

Last September, the SSS rolled out a pension reform program. Under the program, retirement and disability benefits will increase by about 33 percent, while death and survivor pensioners will see benefits rise by around 16 percent by 2027. Pensioners can expect another round of increases in September this year.