Filipino families can breathe a little easier now. The Social Security System (SSS) and Manulife Philippines have officially strengthened their partnership to make financial protection more inclusive for pensioners. Through this collaboration, not only retirement pensioners but also surviving spouses who avail of the SSS Pension Loan Program are now covered by Group Credit Life Insurance, helping families stay secure during life’s unexpected turns.
SSS and Manulife Join Forces to Protect More Pensioners
In a ceremonial signing at the SSS Head Office in Diliman, Quezon City, SSS President and CEO Robert Joseph de Claro and Manulife Philippines President and CEO Rahul Hora sealed the expanded agreement. What this means is clear: pensioners and their families now have stronger financial safeguards in place.
Previously, only around 2 million retirement pensioners enjoyed this coverage. With the new expansion, approximately 1.2 million surviving spouse pensioners are now included, ensuring that loan obligations are fully protected in the event of an unforeseen loss.
De Claro emphasized that this partnership is about empowering Filipino families. He noted that through this program, borrowers are protected from financial vulnerability caused by unexpected loss, illness, or tragedy.
Similarly, Rahul Hora highlighted that the expansion reflects Manulife’s commitment to building a more inclusive financial landscape, allowing more Filipinos to achieve greater financial security, especially during times when support is most needed.
How the Enhanced Pension Loan Program Helps Families
The SSS Pension Loan Program, which first launched on Labor Day 2025, has been a lifeline for pensioners seeking low-interest loans. Now, with Manulife providing Group Credit Life Insurance from 2025 to 2026, the program offers several key benefits:
Comprehensive protection: Outstanding loan balances are covered in the event of a borrower’s passing, easing the financial burden on families.
Inclusive coverage: Surviving spouse pensioners are now included, extending protection to more Filipino households.
Seamless integration: Coverage is automatic, embedded in the pension loan process, so members don’t have to take extra steps.
Public-Private Partnership in Action
This milestone underscores the impact of strong public-private partnerships. Manulife has been supporting SSS since 2022 with its five-year group credit life insurance contract, helping extend social protection programs to millions of Filipinos. With a legacy of 118 years in the Philippines, Manulife continues to provide innovative insurance solutions tailored to the evolving needs of Filipino families at every stage of life.
For many retirees and surviving spouses, navigating financial obligations can be daunting. With this expanded coverage, Filipino families can face the future with more confidence, knowing that loans won’t become an added burden in times of hardship. If you’re an SSS pensioner or a surviving spouse, consider taking advantage of the Pension Loan Program and the automatic Group Credit Life Insurance protection.