The Social Security Act of the Philippines, otherwise known as Republic Act No. 1161, as amended, has been hailed and condemned all at one and the same time. If anything, the detractors have been more articulate, more vocal and more vociferous than the defenders. It has been called "the biggest fraud ever foisted on an unsuspecting people," (as mentioned by Pedro Condena, radio commentator last September 16, 1957) even as it has been termed as a boon "to protect the workingman and his family from the insecurities of life." (as mentioned by Gregorio Sumcad of Weekly women's Magazine last January 24, 1958). The truth about the social Security System as instituted in the Philippines is probably somewhere between these two extremes. It is the aim of this thesis to uncover this truth. As of this writing, a panel of experts made up of lawyers, labor leaders, actuarians and laymen is engaged in the task of ironing out the kinks in the present law. That this panel was constituted at all is eloquent testimonial to the fact that even the votaries of the system, the men and the women who at present are employed by the social Security Commission, admit that the Act has some defects. This thesis will, again, attempt to bring these defects out, to expose them to the light of public scrutiny.