Manila: President Ferdinand R. Marcos Jr. expressed confidence in the financial health of the Social Security System (SSS), saying the agency can implement a pension hike without raising member contributions. Speaking at the latest episode of The BBM Podcast aired Wednesday, Marcos said the growing number of working Filipinos will offset any short-term effect on the SSS fund.

According to Philippines News Agency, the SSS recently announced an increase in monthly pension benefits for qualified members without raising contribution rates. The adjustment is projected to have 'minimal effects' on the fund's lifespan.

Marcos downplayed concerns about long-term sustainability, saying that based on government estimates, the SSS fund is expanding at a pace that could soon rival or even surpass that of the Government Service Insurance System (GSIS). 'In fact, in our estimation, SSS in terms of its fund is growing at such a rate that it will be bigger than GSIS soon,' he added.