The Social Security System (SSS) has announced a series of planned reforms for 2025, focusing on easing processes for pensioners, lowering loan interest rates, and broadening its reach to self-employed professionals.
Robert Joseph De Claro, SSS president and CEO, highlighted the agency’s review of the annual confirmation of pensioners (ACOP) program.
The goal is to simplify requirements and reduce the risk of pension suspensions, particularly for the 157,493 pensioners aged 80 and above who are subject to ACOP rules under SSS Circular 2023-013. “We are assessing ways to make compliance more convenient,” De Claro said, noting potential options like home visits by SSS staff and other accessible verification methods.
The SSS is also looking to ease the financial burden on its members by reducing interest rates on salary and calamity loans, currently set at 10% annually.
De Claro attributed this possibility to the agency’s robust investment performance, which has delivered a 5.8% to 6.6% annualized return from 2021 to 2024, despite the challenges of the COVID-19 pandemic. “With the stability of our investment portfolio, now is the right time to review and adjust loan interest rates,” he explained.
Expanding its coverage to self-employed professionals, including accountants, doctors, and engineers, is another key priority for the SSS. The agency is collaborating with the Professional Regulation Commission (PRC) to improve collection compliance and encourage enrollment.
