By el Amigo
MANILA — The Social Security System (SSS) is looking to broaden its loan offerings and strengthen its retirement savings products as part of efforts to improve member services and preserve the pension fund’s long-term financial health.
SSS President and Chief Executive Officer Victor Alfonso Limlingan said the agency intends to provide members with more financing options, improve investment performance, and enhance the Pension Booster program.
Limlingan assumed leadership following the appointment of his predecessor, Robert Joseph Montes de Claro, as secretary of the Department of Information and Communications Technology (DICT).
During a press briefing, Limlingan outlined plans to develop additional loan products and expand financial services to address members’ changing needs. The initiative is intended to give Filipinos more options to manage financial requirements while preparing for retirement.
He also underscored the need to manage the SSS investment portfolio responsibly, seeking better returns without compromising the protection of members’ contributions.
The Pension Booster program is among the initiatives the agency intends to strengthen to encourage long-term savings and help members build additional retirement income.
Alongside product development, the SSS plans to improve its services for members and pensioners by making greater use of data and adopting more systematic management practices. These measures are expected to streamline transactions and make service delivery more efficient.
Information presented during the briefing indicated that the SSS fund is projected to remain capable of meeting its obligations until 2049.
Limlingan, however, emphasized that maintaining the fund’s financial stability will require continued responsible management and improved investment performance in the coming years.
ia/xf
