MANILA, Philippines — The Social Security System (SSS) pension reform program (PRP) will start in September in line with the directive of President Ferdinand Marcos Jr.

Supported by comprehensive actuarial studies, the PRP features a structured, three-year increase in pensions for all SSS pensioners — the first multi-year adjustment of its kind in the institution’s 68-year history.

The SSS said the PRP will not necessitate any contribution increase.

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The reform program will benefit over 3.8 million pensioners, including 2.6 million retirement/disability pensioners and 1.2 million survivor pensioners. It is projected to inject P92.8 billion into the economy from 2025 to 2027.

“We’ve heard the clamor for higher pensions loud and clear,” SSS President and Chief Executive Officer Robert Joseph De Claro said in an earlier statement.

The PRP was approved by the Social Security Commission under Resolution No. 340-s.2025 dated July 11, 2025.

“With the guidance of Finance Secretary and SSC Chairperson Ralph Recto, and after careful actuarial review, we are rolling out a rational and sustainable pension increase that uplifts all pensioners without compromising the fund’s actuarial soundness,” he said.

The increases will be implemented in three annual tranches every September until 2027 -- 10 percent increase for retirement and disability pensioners and 5 percent increase for death or survivor pensioners.

After three years, pensions will have increased by 33 percent for retirement/disability pensioners and 16 percent for death/survivor pensioners.

“Our actuarial team confirms that the fund remains financially sound,” De Claro said. “We are committed to restoring fund life back to 2053 through coverage expansion and improved collection efficiency.”