The Social Security System (SSS) has assured Filipino workers and pensioners that their benefits remain protected despite reports of losses in the agency’s stock investments.
In a statement dated October 15, 2026, SSS explained that changes in stock prices do not automatically mean that the pension fund has lost cash.
The statement follows concerns about nearly Php 40 billion in unrealized investment losses identified by the Commission on Audit (COA).
SSS Explains What Paper Losses Mean
According to SSS, a paper loss happens when the market value of an investment falls below its purchase price.
However, the investment has not yet been sold.
This means the lower market value has not become a realized cash loss.
SSS said stock prices may recover over time, although recovery is not guaranteed.
The agency also clarified that these reported losses do not mean members’ contributions have disappeared or that pension payments are at risk.
State Auditors Raise Investment Concerns
The Commission on Audit reported that SSS recorded approximately Php 39.99 billion in unrealized equity investment losses in its 2025 annual audit.
State auditors raised concerns about the agency’s investment risk controls, particularly the lack of formal stop-loss thresholds.
These thresholds help organizations decide when to sell investments to limit further losses.
The audit findings are separate from the question of whether SSS can continue paying current benefits.
SSS maintains that its investment portfolio is diversified and managed under government rules.
SSS Reports Higher Benefit Payments in 2026
SSS reported that benefit payments reached ₱173.45 billion from January to June 2026.
This was 19% higher than the ₱145.73 billion released during the same period in 2025.
The agency also implemented the second tranche of its Pension Reform Program.
Under this measure, approximately 4.1 million pensioners received additional benefits worth ₱7.4 billion.
SSS said its stock investments continue generating around ₱9 billion in annual dividend income.
Pension Fund Remains Under Regular Review
SSS reported total assets of approximately ₱1.35 trillion as of June 2026.
The agency said it regularly reviews its investment strategy and follows the Social Security Act of 2018.
These measures are intended to protect its financial reserves and support future benefits.
What SSS Members Should Know
SSS has not announced any suspension or reduction of pension benefits because of the reported paper losses.
Eligible pensioners should continue receiving payments under existing program rules.
The agency’s investment performance and the findings raised by state auditors remain important developments to monitor.
Frequently Asked Questions
1. Will SSS pension payments stop because of the stock losses?
SSS says no. It has assured members that the reported paper losses do not put current pension benefits at risk.
2. Did SSS actually lose ₱40 billion in cash?
The ₱39.99 billion figure refers to unrealized investment losses, not an equivalent amount of cash lost through completed sales. These investments still face market risk.
3. Are SSS pensions increasing in 2026?
SSS implemented the second tranche of its Pension Reform Program, releasing additional benefits to approximately 4.1 million pensioners.