SSS sees profit breaching P100B as it aims to grow membership

THE SOCIAL Security System (SSS) expects its net income to surpass the P100-billion mark this year as it targets to increase its membership and ramp up its collection efforts.

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“Definitely, we'll reach the P100-billion mark in net income for 2025. We estimate that in terms of percentage growth of net income, it will range from about 38% to 43% year on year,” SSS President and Chief Executive Officer Joseph M. De Claro said at a press briefing on Thursday.

SSS posted a P1.13-trillion net loss in 2024, according to its financial statement posted on its website, wider than the P444.13-billion loss in 2023.

However, before changes in policy reserves, it booked a net income of P90.25 billion last year, up from P83.13 billion in 2023.

In the first six months of 2025, SSS’ net income before the increase in policy reserves was at P67.42 billion, up by 51.4% from P44.53 billion in the same period last year.

Mr. De Claro said the agency’s profit growth will be driven by its collection efforts, especially in sectors with high delinquency rates like the construction industry.

“We need to have our program be successful in terms of generating additional collection to meet this. So, we're actually setting the bar a bit higher for next year,” he said.

The agency also targets expand its overseas Filipino worker (OFW) membership in collaboration with the Department of Migrant Workers and other related agencies.