THE Social Security System (SSS) is aiming to grow its reserve fund to P2 trillion by 2029 after topping the P1-trillion mark last year.
“I think the road to P2 trillion is getting nearer,” SSS President and CEO Jay de Claro told reporters on Thursday.
“I think we are on track within the next three to four years to reach P2 trillion,” he added.
The Finance department last week said that the state-run pension fund saw its reserve fund rise to P1.065 trillion last year.
De Claro was quoted as saying that this was due to sustained fiscal discipline, fund governance improvements and reforms aimed at safeguarding member contributions.
On Thursday, he said that reaching the P2-trillion mark would not be done by putting pressure on SSS members or employees.
He said the fund was already on that path, with growth having picked up sharply after the pandemic.
The SSS posted a net income of P142.97 billion last year, a 58.4-percent jump from 2024’s P90.25 billion, while total assets climbed 22.1 percent to P1.26 trillion from P1.03 trillion.
De Claro said they were looking at investing abroad given last year’s results.
“Because we had a good performance in 2025, we have initiated a study to start with our international investment opportunity, because today all of our investments are local,” he said.
Under its charter, the pension fund is allowed to invest up to 7.5 percent of its reserves in foreign assets.
Mandatory SSS contributions will not be raised until 2027, de Claro said, with the most recent, which took effect in January last year, being the final tranche required under the revised SSS law.
“Congress may review the law and decide whether contribution rates should be adjusted,” he added.
“For now, however, there is no planned or expected increase in contributions.”
