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The Social Security System (SSS; Filipino: Paseguruhan ng mga Naglilingkod sa Pribado) [4] is a state-run social insurance program in the Philippines to workers in the private, professional and informal sectors. SSS is established by virtue of Republic Act No. 1161, better known as the Social Security Act of 1954.
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Source: Social Security Administration. The projected 2025 COLA for Social Security is 2.5%, according to an emailed September 11 TSCL press release, resulting in another drop.
Old-age dependency ratio (2017) [1]. The pensions crisis or pensions timebomb is the predicted difficulty in paying for corporate or government employment retirement pensions in various countries, due to a difference between pension obligations and the resources set aside to fund them.
In a major update of the state pension, the Pensions Act 2007, which aligned and raised retirement ages. Following that, the Pensions Act 2008 has set up automatic enrolment for occupational pensions , and a public competitor designed to be a low-cost and efficient fund manager, called the National Employment Savings Trust (or "Nest").
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The official results were canvassed by the Congress of the Philippines in the record time of two days. Bongbong Marcos was proclaimed president, while Davao City Mayor Sara Duterte was proclaimed vice president, in a joint session at the Batasang Pambansa Complex on May 25. [ 5 ]
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