QUEZON CITY – The Social Security System (SSS) recently celebrated its 66th founding anniversary with the disbursal of more than 2.7 trillion worth of benefits to its increasing members and their beneficiaries since it started its operations in 1957.
This year’s theme ‘SSS@66: Serbisyong Mapagkakatiwalaan, Proteksyong Maasahan,’ clearly reflects the primary role of the SSS as the country’s premier fund and partner of every Filipino worker in facing life’s contingencies.
SSS president and chief executive officer Rolando Ledesma Macasaet pointed out that this year’s celebration is a recognition to its members, and other partners who played a pivotal role in spearheading social security protection in the country over the past several decades.
Significantly, the benefits disbursement of the pension fund grew immensely from P80,000 benefits paid in its first year of operations in 1957 to P128.6 billion as of the end of the first semester this year.
“This Social Security Month of September, we look back with pride how SSS, a staunch ally of social security protection for 66 years, continues to stand strong for its members in times of difficulties and milestones of their lives. The pension fund’s income from contributions and investments has always been the strong pillar and source of benefits for members. This is why we will never cease to enhance our existing programs and launch new and more beneficial programs to better serve our members,” Macasaet stressed.
The month-long celebration kicked off with the conduct of a nationwide Members’ Day last September 1, 2023. During the said activity, SSS branch offices gave free burgers to the first 105 transacting members and T-shirts to selected members.
Last September 8, 2023, SSS held the annual Balikat ng Bayan Awards to honor its partners. Civil Service Commission (CSC) Chairperson Carlo Alexi B. Nograles and Finance Secretary and Social Security Commission (SSC) Chairperson Benjamin Diokno served as the guests during the said awards program that will give recognition to its top partners for their unwavering support to the SSS initiatives. Among the awards that were given were Top Employers, Best Collection Partners, Best Disbursement Partners, Best media Partners, Accredited Partner Agents and Special Citations.
Further, SSS also conducted its Pensioners’ Day on the same date that included various activities that benefited its pensioners around the country. It aims to recognize the valuable contribution of its pensioners during their productive years.
As a culminating activity, SSS will recognize outstanding and loyal employees who showed exemplary performance in their respective designations.
Assets of the pension fund, on the other hand, also improved through the years from the initial P6.37 million in 1957 to P835.93 billion as of the end of the first semester this year.
Latest data showed SSS membership now stands at 42.4 million from a mere 224,156 members in 1957.
From an office space stationed in Arroceros, Manila, SSS now has 283 local and 28 foreign offices. Its work force has also expanded through the years as it serves more members daily. From the 211 personnel in 1957, the SSS employs 6,400 regular personnel as of June 2023.
SSS was established in 1957 by virtue of Republic Act (RA) 1161 or the Social Security Act of 1954. Due to numerous objections from the business and labor groups in 1954, the execution of the law was delayed until it was finally implemented on September 1, 1957.
