The Social Security System (SSS) reported a record 2.4 million new members in the first half semester of 2024.
SSS president and chief executive officer Rolando Macasaet on Thursday said the state pension fund is on track for a record-setting year in terms of registering new members after hitting 2.4 million new registrants in July 2024.
The number of new members from January to July 2024 surged by 165 percent to 2.4 million from 923,000 new members recorded in the same period of 2023.
In the previous years, SSS usually averaged about one million new members annually.
For 2024, Macasaet challenged SSS officials and employees to target two million new registrants for 2024.
“SSS took the challenge and even went the extra mile. In the first six months, we hit our year’s target of two million new members, a positive result of our massive membership and coverage drives throughout the country,” he said.
He cited this milestone reflects the agency’s commitment to expand its membership and reach all working Filipinos.
“The implications of this record membership are profound because it means more Filipinos will have access to a comprehensive set of social security benefits from SSS. The social security protection offered by SSS can help safeguard the financial well-being of Filipino families, particularly during times of uncertainty,” he said.
According to Executive Vice President for Branch Operations Sector Voltaire Agas, the highest number of new members came from prior registrants, totaling 1.2 million.
Prior registrants are individuals who already have SSS numbers but have not yet been reported as covered employees or self-employed members.
“We observed a significant increase in new self-employed members, which surged by 273 percent—from 112,000 in 2023 to 419,000 in 2024. Additionally, the number of new overseas Filipino worker members more than doubled, rising to 10,300 in 2024 from just over 5,000 last year,” he said.
