MANILA, Philippines — The Social Security System (SSS) bids farewell to its president and CEO, Robert Joseph de Claro, who leaves behind the institution's most formidable financial position to date — “defined by record-breaking asset levels, a steadily growing investment reserve, and markedly improved earnings.”
Under de Claro's stewardship, the SSS said in a statement that it has preserved its financial resilience and remained well-positioned to sustain the delivery of benefits to its members, pensioners, and their families.
As of June 2026, the SSS's total assets rose to P1.35 trillion, reflecting a 7.6 percent increase—equivalent to P94.9 billion—from P1.25 trillion as of December 2025.
This growth underscores the pension fund's strengthening financial foundation and its capacity to meet long-term benefit obligations, according to the same statement..
De Claro, who was appointed by President Ferdinand Marcos Jr. as secretary of the Department of Information and Communications Technology, replacing Henry Rhoel Aguda, who resigned from the post, likewise steered the SSS past the P1 trillion milestone in its Investment Reserve Fund (IRF).
During the first half of 2026, the IRF stood at P1.31 trillion, up 6.6 percent from P1.23 trillion at the close of 2025.
The increase highlights the fund's continued accumulation of reserves necessary to support future pension and benefit disbursements, the agency said.
Moreover, the SSS said benefit disbursements have also expanded considerably. From January to June 2026, the agency released P173.45 billion in benefits—a 19.0 percent increase from the P145.73 billion paid out during the same period in 2025.
This uptick reflects heightened claims activity, driven in part by a growing number of retirees and beneficiaries accessing pensions and other social security benefits, the state pension fund stressed.
Contribution collections, meanwhile, demonstrated steady improvement. Member contributions reached P200.32 billion in the first half of 2026, up 6.9 percent from P187.44 billion in the corresponding period of 2025.
This growth was propelled by stronger compliance, expanded coverage, and an ever-growing base of contributing members and employers, the SSS said.
The agency said it anticipated surpassing P100 billion in net income by the end of 2026, placing it on track for another year of strong financial performance. It also projects total assets to reach P1.5 trillion by December 2026.
Throughout his tenure, de Claro managed SSS investments with prudent risk management, disciplined asset allocation, and regular portfolio reviews.
He ensured that investment decisions remained consistent with Republic Act 11199 or the Social Security Act of 2018, as well as the SSS's internal governance policies, the SSS said.
With its strongest financial standing yet, the SSS said it was now better equipped to provide timely and dependable benefits to its members, pensioners, and their families, while safeguarding the pension fund's ability to meet its long-term obligations.
