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The Philippines’ balance of payments (BoP) surplus sharply narrowed year on year in September, the central bank reported on Monday.

The country’s BoP position was at a USD 82-million surplus in September, shrinking from the USD 3.526-billion surfeit in the same month a year ago, preliminary Bangko Sentral ng Pilipinas (BSP) data showed.

This was also narrower than the USD 359-million surplus seen in August and marked the second straight month that the Philippine external position yielded a surfeit.

“The BoP surplus reflected the Bangko Sentral ng Pilipinas’ net income from its investments abroad and National Government’s (NG) net foreign currency deposits with the BSP,” the central bank said in a statement.

BoP refers to the country’s economic transactions with other nations. A surplus indicates more funds entered the country, while a deficit shows that the country spent more than it received.

Last month’s surplus helped narrow the country’s end-September BoP deficit to USD 5.315 billion. However, this was a reversal from the USD 5.117-billion surplus posted in the same period last year.

“Preliminary data indicate that the year-to-date BoP deficit was largely due to the continued trade in goods deficit,” the BSP said.

“This was partly offset by the sustained net inflows from personal remittances from overseas Filipinos, trade in services, foreign direct and portfolio investments, and foreign borrowings by the NG.”

The country’s trade gap, or the difference between its exports and imports, was at USD 32.38 billion in the first eight months of the year, the latest data from the Philippine Statistics Authority showed. This was narrower than the USD 34.33-billion deficit in the comparable year-ago period.

The Philippines’ trade-in-goods balance has been in deficit for over a decade or since the USD 64.95-million surplus recorded in May 2015.

“September’s BoP surplus was likely bolstered by net receipts in services trade, overseas Filipino remittance inflows, and net foreign equity investments that, combined, overshadowed trade-in-goods deficit and net foreign bond outflows. This led the third-quarter BoP to be in a surplus position,” Angelo B. Taningco, research head and chief economist at Security Bank Corp., said in an e-mail.

BSP data showed that the country recorded a USD 274-million surplus in the July-September period. This was smaller than the USD 3.676-billion surfeit in the same quarter last year.

Mr. Taningco said they expect another surplus this quarter, which would help trim the end-2025 BoP deficit to USD 4.5 billion.

The BSP expects the overall BoP position to end at a USD 6.9-billion deficit this year or -1.4% of gross domestic product.

“The smaller BoP surplus reflects fewer one-off inflows and a still-wide trade gap, but the external position remains manageable with steady remittances, strong services exports, and solid reserves,” Robert Dan J. Roces, economist at SM Investments Corp., said in a Viber message.

“As global rates ease and regional demand recovers, investment inflows may return and support liquidity and credit conditions, which should help firms with deep local roots and diverse sources of growth.”

Reserves

The BSP said the country’s BoP position mirrored the increase in its gross international reserves (GIR) to USD 109.1 billion at end-September from USD 107.1 billion as of August.

“The level of GIR remains an adequate external liquidity buffer, equivalent to 7.3 months’ worth of imports of goods and payments of services and primary income,” it said. This is well above the three-month standard.

“Moreover, it covers about 3.8 times the country’s short-term external debt based on residual maturity.”

This ensures that the country has ample foreign exchange to meet its financing needs, such as import and debt payments, the central bank said.

The country’s gross reserves are made up of foreign-denominated securities, foreign exchange, and other assets such as gold. Aside from financing its external obligations, these are used by the central bank to help stabilize the peso and also serve as a buffer against global economic disruptions.

The BSP expects dollar reserves to settle at USD 105 billion by end-2025. — Katherine K. Chan

Digitalization will not only make the Philippines a more competitive market for investments amid the shifting world order but also help in deterring corruption, industry leaders and a government official said.

At the 51^st Philippine Business Conference and Expo on Monday, Philippine Chamber of Commerce and Industry President Enunina V. Mangio said that digital transformation has become more important than ever amid global economic uncertainty due to growing protectionism and changing trade policies.

“We stand at an inflection point where digital transformation is no longer optional — it is imperative for national competitiveness and prosperity,” Ms. Mangio said.

“The question before us is not whether transformation will occur, but whether the Philippines will position itself at the forefront of this change,” she said. “Our neighbors are moving decisively. The competitive landscape is rapidly intensifying. The opportunity for regional leadership exists — but only for those bold enough to claim it, strategic enough to execute it, and committed enough to sustain it.”

In particular, artificial intelligence (AI) is reshaping how businesses are conducted, services are delivered, and complex problems are solved.

“From predictive analytics that optimize supply chains to AI-powered diagnostics that democratize healthcare, from intelligent automation to natural language processing — AI represents a quantum leap in human capability,” she said.

“The question is whether the Philippines will be a creator and beneficiary of these technologies or merely a passive consumer.”

Blockchain technology has also helped improve supply-chain traceability, particularly in authenticating Philippine exports and smart contracts that reduce transaction costs and increase trust, Ms. Mangio said.

However, the Philippines has yet to fully tap the opportunities being offered by digital transformation, she said, as it must address issues concerning data sovereignty, cybersecurity, and privacy protection that continue to hamper its digitalization journey.

“We must confront technological displacement in labor markets and develop comprehensive strategies for workforce adaptation and social protection,” she said.

“We must establish regulatory frameworks that foster innovation while safeguarding the public interest. We must ensure that digitalization benefits are broadly distributed, not concentrated among a privileged minority.”

Philippine Vice-President Sara Duterte-Carpio said that technology can also be a weapon against corruption.

“As we digitize, we automate our processes, make data and all government transactions transparent, and leave no room for scrupulous backdoor transactions,” she said in her keynote address at the event on Monday.

“We take away the power of corrupt leaders to manipulate public funds and capitalize on people’s money for their personal interests, greed, and political ambition.”

Technology can be used to “impose checks and balances, monitor paper trails, eliminate arbitrary and politically motivated decision-making, and prevent unconstitutional budget insertions to curry political favor at the expense of the people’s money,” she said.

However, the government should make sure that it develops and equips Filipinos so that the country can effectively leverage technology, she said.

“Digital transformation will be the bridge to the future, paving the way for inclusivity through training, upskilling, deep-dive mentoring, and industry exposure to equip our human resources,” she said.

“The new skills and knowledge they acquire will prove useful as they figure into roles that require creative and innovative thinking, problem-solving, and leadership.”

She added that the country should aspire to create future innovators, thinkers, producers, and entrepreneurs.

“Our goal is to maximize the potential of our human and natural resources, leveraging the power of technology and digital transformation to create growth centers that host competitive homegrown producers, service providers, and exporters,” she said.

“These strategies will be significant economic drivers that will help create local jobs, increase domestic economic activities, and spur development and progress in domestic and micro-economies across the Philippines.” — Justine Irish D. Tabile

The European Chamber of Commerce of the Philippines (ECCP) has identified its advocacy recommendations across 12 key sectors that will help create a business environment that fosters investment, innovation, and sustainable growth.

“This year’s Advocacy Papers capture the perspectives of our committees, reflecting the expertise and dedication of ECCP members across a wide range of industries,” ECCP President Paulo Duarte said in a statement.

He said recent reforms in the country, including the passage of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, have been encouraging.

“Further progress in improving the ease of doing business and ensuring a level playing field for both local and foreign enterprises will be vital to unlocking the Philippines’ full potential as an investment destination,” he added.

This year’s Advocacy Papers span 12 sectors, which are agriculture, automotive, aviation, customs and logistics, environment and water, food and beverage, healthcare, human capital and education, infrastructure, renewable energy, tax and financial services, and tourism.

Under agriculture, the ECCP recommended the passage of the Animal Industry Development and Competitiveness Act to address the challenges in productivity, resilience, and market access of the Philippines’ animal sector value chains.

“The proposed law creates a unified institutional and fiscal framework, including the design of a multi-year competitiveness fund and clearer mandates for implementing agencies,” the group said.

This framework is expected to “enable sustained investments in feed and genetics, slaughter and cold-chain infrastructure, and disease-control capacity rather than the ad hoc, year-to-year programming typical under the current architecture.”

The group also recommended scaling value-chain investments around prioritized commodity roadmaps, accelerating climate-resilient cold-chain and aggregation infrastructure dispersal, institutionalizing data-driven agricultural insurance, and dedicating funding for biosecurity.

It also called for the harmonization of veterinary product regulation, integration of market access and sanitary and phytosanitary compliance for public agricultural investments, expanded financing for smallholder farmers, and the accelerated enactment of the National Land Use Act.

For the automotive sector, the ECCP asked for the elimination of import duties for European automotive brands, streamlined border procedures and certification, predictability of incentives and regulatory frameworks, and development of a support program for electric vehicle (EV) adoption.

It also called for the inclusion of road safety education into the basic education curriculum, requiring regular calibration and testing for critical electronics in EVs, and safety laws related to child car seats, dash cams, and dark car tints.

For aviation, the chamber sought more investments in the modernization of transport infrastructure and aviation safety oversight, improvements in the frameworks regulating the air transport sector, and the ratification of the Cape Town Agreement.

The groups asked for an incentive framework for competitive and sustainable aviation, strengthening human capital for the aviation sector, and integration of sustainability in the Philippine Aviation Strategy.

In logistics, the group asked for the promotion of ease of doing business, including operationalization of the National Single Window, enforcement and update of Citizen’s Charters, and establishment of guidelines to regulate charges imposed by international shipping lines.

The ECCP also recommended the amendments to the Philippine Ports Authority Charter and the passage of the Blue Economy Act and the Maritime Trade Competitiveness Act.

In the area of environment, the group asked for the implementation of the Extended Producers’ Responsibility (EPR) Scheme, incentive-based measures under EPR law, and the integration of environmental education in the curriculum.

Under food and beverage, the group is seeking the proper implementation of front-of-package labeling, implementation of policies regarding marketing to kids, education efforts that recognize benefits of prepackaged food, review of food taxes, and promotion of ease of doing business.

In healthcare, the group is asking for the expansion of Philippine Health Insurance Corp.’s coverage and the proper implementation of the New Government Procurement Act.

Meanwhile, ECCP is seeking enhanced curriculum for the basic education system, enhanced training programs for teachers, accelerated facility provisioning, strengthened vocational programs, enhanced support programs for private schools, and improved nutrition programs.

The group is also recommending revisions to the apprenticeship law, eased restrictions on the employment of foreign nationals, passage of the Enterprise Productivity Act, and reconsideration of across-the-board wage mandates.

In the area of infrastructure, the group is pushing for funds allocation for green infrastructure and faster blended cement adoption, implementation of the Mandanas-Garcia ruling, ensuring sanctity of public-private partnership contracts, and a level playing field for local and foreign-owned contractors.

The group is also seeking effective implementation of the Konektadong Pinoy Act, accelerated digital infrastructure development, development of a future-ready workforce, improvements in ease of doing business and cyber-resilience, and integration of regional development into the national information and communications technology strategy.

It also asked for improved ease of doing business and green financing mechanisms, effective implementation of the Energy Efficiency and Conservation Act, and the establishment of a policy framework for waste-to-energy technologies.

The group is also asking the government to digitalize and streamline tax processes, accelerate e-invoicing, resolve ambiguity in cross-border taxation, standardize tax assessment and valuations, establish a carbon credits facility, and strengthen tax awareness.

For tourism, ECCP recommended improvements to international and domestic connectivity, promotion of domestic and international tourism, restructuring of the Civil Aviation Authority of the Philippines, and integration of sustainability in a long-term tourism strategy.

The group also expressed support in the establishment of an independent agency focused on the development of Philippine airports through the Philippine Airports Authority and the creation of a Philippine Transportation Safety Board. — Justine Irish D. Tabile

The Philippine economy can still grow within the 5.5-6.5% target this year as spending is expected to “normalize” in the fourth quarter, Department of Budget and Management (DBM)Secretary Amenah F. Pangandaman said.

Ms. Pangandaman, who also chairs the Development Budget Coordination Committee (DBCC), said the gross domestic product (GDP) growth target of 5.5-6.5% for this year “remains attainable.”

“Spending is expected to catch up and normalize toward the latter part of the year,” she told BusinessWorld in a Viber message on Oct. 15.

“Momentary slowdown in public infrastructure spending is expected as agencies do due diligence, especially DPWH (Department of Public Works and Highways) as it reviews and evaluates its roster of projects,” she said.

Finance Secretary Ralph G. Recto earlier this week said economic growth likely cooled in the third quarter, adding that the slowdown may continue until early 2026 as heightened scrutiny over anomalous projects dampens government expenditure.

President Ferdinand R. Marcos, Jr. had flagged anomalous flood control projects during his State of the Nation Address in late July. This sparked several investigations into alleged corruption involving lawmakers, government officials, and private contractors.

Earlier, Economy Secretary Arsenio M. Balisacan said the DBCC will wait for third-quarter data to be released on Nov. 7 before revising growth targets.

However, he noted that achieving the full-year growth goal has “become harder” due to a likely slowdown in government spending.

In the first half, GDP growth averaged 5.4%, slower than 6.2% a year ago.

Ms. Pangandaman said the economic team remains “vigilant and proactive” in managing fiscal risks while staying aligned with the medium-term fiscal framework.

In June, the DBCC tempered its growth forecast to 5.5-6.5% for 2025 and 6-7% for 2026, mainly due to “heightened global uncertainties” arising from the Middle East conflict and US tariffs.

Ms. Pangandaman said the country’s growth momentum will be supported by key factors, including sound macroeconomic fundamentals, easing inflation, and a lower interest rate environment.

She also cited favorable credit and financial markets, stronger private sector momentum, and more efficient public spending as driving economic growth.

In a separate statement on Thursday, Mr. Recto said the economy is expected to post stronger economic growth ahead, citing improved governance and institutional reforms following the flood control mess.

“Growth is being supported by low inflation, easing policy rates, strong consumer spending, and a vibrant labor market,” he said.

Headline inflation averaged 1.7% in the first nine months of the year, matching the forecast of the Bangko Sentral ng Pilipinas.

John Paolo R. Rivera, a senior research fellow at the Philippine Institute for Development Studies, said the DBCC may need to revise its macroeconomic assumptions to reflect more realistic conditions amid persistent global headwinds, fragile consumer confidence, and fiscal constraints.

The economic managers should also prioritize targeted stimulus and institutional reforms to support resilience, he said.

“It will be challenging but not impossible, despite the third-quarter slowdown,” Mr. Rivera said in a Viber message on Thursday.

“Growth will depend on whether domestic consumption and investment rebound during the holiday season, if government spending accelerates, and if inflation remains within target,” he added.

Ser Percival K. Peña-Reyes, director of the Ateneo Center for Economic Research and Development, said the DBCC should revise its growth targets in light of the corruption scandal over flood control projects.

“Corruption scandals have had a chilling effect on investor sentiment,” he said in a Viber message on Thursday.

Mr. Peña-Reyes said the economy likely expanded by 5.6% in the third quarter, accelerating from 5.2% growth in the same period a year earlier.

For the full-year, growth will likely settle at 5.5%, matching the lower end of the government’s target range but slower than the revised 5.7% in 2024.

Foundation for Economic Freedom President Calixto V. Chikiamco said the Philippine economy’s performance is likely to “disappoint” this year given the headwinds facing the Philippines.

“The picture could be worse next year when the Trump tariffs start to bite and global slowdown occurs,” he said in a Viber message.

Recto rejects VAT reduction

In addition, Mr. Recto warned against some lawmakers’ proposals to lower the value-added tax (VAT) rate to 10%, saying this move could result in “massive revenue losses” and force the government to borrow to fund basic operations.

“The entire VAT collection for 2025 of PHP 1.39 trillion can only fund nine months’ worth of payroll, premium, and pension of active and retired government workers,” said Mr. Recto, who authored the measure that hike the VAT rate in 2005.

Several lawmakers have filed bills seeking to either scrap or cut the 12% VAT rate. VAT collections account for about a fifth of the Bureau of Internal Revenue’s total revenues.

Mr. Recto said excise tax collections, projected at PHP 576 billion this year, would not be enough to cover the PHP 965-billion budget for basic, tertiary, and technical-vocational education programs. — Aubrey Rose A. Inosante, Reporter

Businesses and policymakers face a widening gap between the demand for skilled labor and the workforce’s readiness to fill green jobs, as the Philippines accelerates its transition to a green economy.

Industry leaders and government officials warn that unless the country scales up training programs, the promise of economic growth from renewable energy, electric vehicles and sustainable construction could be undermined by the lack of qualified workers.

“Are we ready for these changes?” Francis A. Macatulad, program director at the Asia Society for Social Improvement and Sustainable Transformation (ASSIST), a nonprofit that promotes capacity-building and sustainable practices, told BusinessWorld in a virtual interview. “Unfortunately, we are not. We don’t have the technicians.”

His warning underscores a structural challenge for Southeast Asia’s second-most-populous nation.

As climate change reshapes economies worldwide, the Philippines is under pressure to retrofit aging infrastructure, decarbonize energy systems and adopt greener modes of transportation. But the country is still scrambling to align its workforce with those demands.

The World Economic Forum projects that green and energy-transition roles such as renewable energy engineers and electric vehicle specialists will be among the fastest-growing job categories in the coming years.

The International Labour Organization (ILO) estimates that the shift to a green economy could create 24 million jobs globally by 2030.

The Asia-Pacific region is particularly exposed, with 43% of its workforce considered vulnerable to climate-related shocks and the disruptions from decarbonization, according to the ILO. For the Philippines, where millions of workers remain in carbon-intensive or informal industries, the transition risks leaving many behind without targeted support.

Labor Undersecretary Carmela I. Torres said the government is working to balance the creation of green jobs with inevitable losses in traditional industries such as coal and fossil fuel-based transportation.

“The transition to a green economy should be just and inclusive, ensuring that workers in traditional industries are not left behind,” she said in an e-mailed reply to questions. “This aims to shift towards environmentally friendly practices while ensuring the creation of decent work opportunities and addressing social inequalities.”

Still, she acknowledged persistent challenges: gaps in training programs, limited funding, and the lack of awareness among workers and employers about opportunities in the green sector.

Some of the country’s biggest companies are trying to bridge the gap by embedding sustainability across their organizations.

Ayala Corp., one of the Philippines’ oldest business groups, ensures its sustainability agenda extends beyond dedicated teams.

“Our corporate strategy, business development, investor relations, and treasury teams, among others, are updated on the latest and most relevant thinking in sustainability to ensure that it is embedded into our long-term planning and investments,” Francisco R. Milan, Ayala’s chief human resources officer, said in an e-mailed reply to questions.

Ayala Land, Inc., the group’s property arm, hosts quarterly forums on topics such as decarbonization, regenerative design and water resource management. Globe Telecom, Inc., meanwhile, launched an online Sustainability Academy in 2021 to help its 8,000 employees adopt sustainable practices at home and at work.

“Across the group, sustainability and human resource teams are working closely to identify ways to more widely embed the value of sustainability among all employees,” Mr. Milan said.

The Aboitiz Group has also made sustainability central to its real estate and infrastructure ventures. Aboitiz InfraCapital, Inc.’s economic estates, including Lima Estate in Batangas, have earned a five-star Building for Ecologically Responsive Design Excellence (BERDE) district certification. It features a sustainability hub with a waste-to-eco brick facility, rainwater harvesting and compost-to-fertilizer systems.

“It’s about shifting how everyone in the organization thinks about placemaking and future-proofing for the new economy,” Monica L. Trajano, vice-president for business development at Aboitiz unit LIMA Land, Inc., told BusinessWorld in an interview.

“We must be able to integrate agility and innovation as we emphasize sustainability and best practices,” she added.

Working with urban planning consultants such as Singapore-based Surbana Jurong Pte Ltd., Aboitiz has identified specific workforce gaps in renewable energy and sustainable construction. “There is a skill gap in practical areas like installation, maintenance, repair and even the basic knowledge in sustainable construction,” Ms. Trajano said.

‘Mindset shift’

While infrastructure upgrades are critical, advocates stress that behavior change is just as important.

“Designing green is the easiest part,” Christopher C. de la Cruz, chief executive officer at the Philippine Green Building Council, said in an interview. “Staying green is the biggest problem.”

He noted that even the most energy-efficient systems are wasted if occupants use them improperly. “It’s a mindset shift.”

The council administers the BERDE green building rating system and partners with organizations such as the Philippine Business for Education to develop training programs. It also works with universities like the University of San Carlos in Cebu to update curricula so graduates are equipped with green skills from the outset.

Green jobs are for everyone — including janitors, messengers, and plumbers, Mr. De la Cruz said. “If you’re able to transition your work today into a cleaner kind of work that contributes [to mitigating] the climate crisis, then it’s a green job.”

Nonprofit groups are stepping in to address the training deficit. ASSIST, for example, works with technical-vocational associations in Mindanao and Metro Manila to give instructors updated training materials.

It has also established an advisory committee with the Technical Education and Skills Development Authority (TESDA) and chambers of commerce to identify skill gaps.

“We are upskilling the current tech-voc students, or in some cases reskilling technicians to be able to work with the new technologies,” Mr. Macatulad said.

The Philippines already has a legislative framework in place. The Green Jobs Act of 2016 seeks to identify skill needs, train and certify workers and provide financial support including tax deductions for green-skill programs.

The Labor department and TESDA have also issued a joint memo to strengthen career guidance and training alignment with industry needs.

“Efforts such as those by TESDA are crucial for developing a workforce capable of meeting these demands,” Ms. Torres said. “Both public and private sector investments are needed to support the development of a robust green job training ecosystem.”

For the private sector, investment in education is vital to long-term competitiveness.

“We recognize that no single institution or the private sector acting alone can produce the necessary talent at scale,” Mr. Milan said. Government investment in education is critical so Philippine schools can produce a workforce that supports the drive of industries for sustainability, he added.

Aboitiz’s Ms. Trajano called the skill gap both a challenge and an opportunity.

“Our biggest opportunity as a country is our labor force, and we really must focus on that, with the public and private sectors working together,” she said. “The skill gap is also our biggest opportunity in terms of influencing the quality of our educational institutions.”

As the Philippines braces for the impacts of climate change — rising sea levels, stronger typhoons, and disrupted agricultural cycles — building a workforce ready for the green economy has become more than an economic necessity.

The Philippines is in a race against time. “There are a lot of projects that will be coming on stream very soon, and they need technicians,” Mr. Macatulad said.  — Patricia B. Mirasol, Multimedia Producer

The Philippines’ pension system remained the third worst in the world, according to the 2025 edition of Mercer CFA Institute’s Global Pension Index.

The Philippines’ score, which is graded based on adequacy, sustainability, and integrity, improved to 47.1 in 2025 from 45.8 in 2024, primarily due to “clarification of regulations,” the report said.

However, the score was way below the 64.5 global average, and the third-lowest score among 52 retirement income systems in the index. Last year, the Philippines’ pension system was also the third worst out of 48 systems.

In the report, the pension systems in the Philippines, Turkey, Argentina and India, were given a “D” grade. This means the pension system has some “desirable” features but also has “major weaknesses” that should be addressed.

“Without these improvements, its efficacy and sustainability are in doubt,” the report said.

The Netherlands had the best pension system with a score of 85.4. Aside from the Netherlands, the pension systems in Iceland, Denmark, Singapore and Israel were also given an “A” grade, which meant they had robust and sustainable systems that deliver good benefits with a high level of integrity.

The Global Pension Index reviews an economy’s retirement income systems based on three weighted subindices: adequacy, sustainability, and integrity.

The Philippines’ adequacy score went down to 40.6 in 2025 from 41.7 in 2024. This was below the global average of 66.1 for adequacy.

Its sustainability score improved to 64.4 from 63.4, which was higher than the global average of 55.3.

For integrity, the Philippines’ score inched up to 33.2 from 27.7. However, this was significantly lower than the global average score of 74.7.

The Philippines was the only economy in the integrity sub-index that had an “E” grade, which indicates “a poor system that may be in the early stages of development or nonexistent.”

“The Philippines’ retirement income system comprises a small basic pension and an earnings-related social security pension,” the report said.

“Members can receive a lifetime pension if they have contributed for a minimum of 180 months for government and 120 months for nongovernment members. Both schemes provide calibrated benefits if the minimum number of contributions is not satisfied.”

The Mercer CFA Institute report said the Philippine pension systems could be improved if the minimum level of support for the poorest elderly is increased and the benefits are aligned with the country’s cost of living.

It also said the Philippines’ requirements for vesting in private sector plans should be improved.

The report said the local pension system lacks non-cashout options for retirement plan proceeds, so they are preserved for retirement purposes.

It also cited the need to improve governance requirements for the private pension system.

In the Philippines, there are two main pension funds — the Social Security System (SSS) for private workers and the Government Service Insurance System  for government workers.

Starting Jan. 1 this year, the SSS increased the contribution rate to 15%, up from 14%. Under Republic Act No. 11199 or the Social Security Act of 2018, the SSS implemented incremental contribution rate hikes of one percentage point every two years starting in 2019 from the original contribution rate of 11%.

All SSS pensioners as of Aug. 31, 2025 began receiving higher pensions starting September this year. Retirement and disability pensions will increase by 10% annually every September until 2027, while death or survivor pensions will rise by 5% each year. — A.M.C.Sy