Tag Archive: SSS Maternity Benefits


Apr 26

Female SSS members are entitled to maternity benefits.  Whether she is an employed member or is voluntarily contributing to the system, she must be granted the necessary financial support as her privilege under the SSS, provided she meets the basic documentary and contribution requirements of the system.

How does one compute for her SSS maternity benefit and how do you determine if the member is qualified?

1. IMPORTANT TERMS USED IN SSS MATERNITY BENEFITS

a. Quarter – refers to THREE CONSECUTIVE months ending in March, June, September, and December.

Examples are:

  1. January, February, and March
  2. April, May, and June
  3. July, August, and September
  4. October, November,  and December.

 

b. Semester – refers to TWO CONSECUTIVE quarters

Examples are:

  1. January to March and April to June – that is one semester.
  2. July to September and October to December – that is one semester.
  3. April to June and July to September – that is one semester.
  4. October to December (of the current year) and January to March (of the following year) – that is one semester.

 

c. Semester of Contingency – refers to two (2) consecutive quarters ending in the quarter of contingency.

Example:

  • If the month of delivery or miscarriage is May, the quarter of contingency covers the months of April, May, and June.
  • While the Semester of Contingency covers the months of January, February, March, April, May, and June.

d. Monthly Salary Credit or MSC – refers to the compensation base related to your total earnings for the month.  You may refer to the SSS contribution table we shared in this post (hyperlink to 2018 SSS contribution table).

Example: If you are earning P8,300 per month, your MSC is P8,500.

 

2. Maternity Benefit Computation

Example: If the member will give birth on June 2018:

  • Exclude the semester of delivery so that:
    • The applicable quarter covers the months of April, May, and June.
    • The semester of contingency covers the months of January to June 2018.

Therefore, you must exclude January to June 2018 from the computation.

  • Count 12 months backward starting from the month immediately before the semester of delivery.
    • If June 2018 is the expected month of delivery, count backwards to December to January 2017.
    • To qualify, the member needs to have at least three posted contributions during the January to December 2017 period.
  • Identify three up to six highest MSCs from January 2017 to December 2017.  Example, if the six highest MSCs are P15,000 and P16,000, add them to get the total salary credit:

15,000 + 15,000

15,000 + 16,000

16,000 + 16,000

= P93,000 – Total Monthly Salary Credit (MSC)

  • Divide the total MSC by 180 days to get the average daily salary credit:

P93,000/180 days = P516.67 – This now is your Daily Maternity Allowance.

  • From your Daily Maternity Allowance of P516.67, multiply by the applicable number of days of your delivery type:
    • Normal delivery – 60 days
    • Caesarian section – 78 days

P516.67 * 60 days (normal delivery) = P31,000.20

P516.67 * 78 days (caesarian section) = P40,300.26

 

Reminders when claiming your maternity benefit:

  • The SSS Maternity Benefit is only applicable to the first four deliveries, including miscarriages.
  • If you are employed member, the benefit will be paid to you in advance by your employer.
  • If you are self-employed, separated and voluntary members, the benefit will pay the benefit directly to you after delivery, provided that your Maternity Reimbursement Claim was duly approved.
  • Make sure that you have submitted a Maternity Notification to your Employer (if employed) or directly to the SSS (if self-employed, voluntary member, or separated from employment). Failure to advise SSS of your pregnancy may cause delays or even disqualification from claiming your benefit.
  • Always make sure that your SSS contributions are complete, up-to-date, and accurate in order to avail of SSS benefits.

 

Source: http://www.sss.gov.ph

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Apr 25

Female SSS members, whether under the employed or voluntary (self-employed) status, must notify SSS right away in order to ensure that they are given the proper maternity benefits.  Employed members may course the notification through their employers, while voluntary members still need to go to the nearest SSS office.

One of the prevalent reasons why a self-employed member is not able to receive her maternity benefits is because she failed to provide the proper advice to the SSS.  To avoid this from happening to more women, the SSS launched a new program that made the advisory process so much easier and convenient for its members!

Introducing the maternity notification through the Text-SSS service!

How does this work?  Read on.

  1. You need to register for the Text SSS service by typing SSS REG <SSNUMBER><BDAYmm/dd/yyyy> and send to 2600.
  2. Submit your Maternity Notification by typing SSS MATERNITYNOTIF <SSNumber><PIN><Expected Delivery Date MM/DD/YYYY><Total Number of Pregnancies (including your current pregnancy)> send to 2600

Example:

SSS MATERNITYNOTIF 3379137342 1234 10/15/2018 2

You still need to submit documentary proofs of your pregnancy along with the filing of your Maternity Reimbursement, after you have given birth.

Text to Text SSS are charged according to network rates.  For Globe/Touch Mobile and Smart subscribers, the per text charge is P2.50.  Sun Cellular subscribers are charged P2.00 per text.

 

Reference:

www.sss.gov.ph

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Mar 27

On Monday, April 2, 2018, the Social Security System (SSS) will once again open its doors to members who with unpaid obligations with the agency.  This is another opportunity that the state-run pension  fund is extending to members to allow them to settle overdue loans and regain their good standing with the SSS to avoid problems with their claims later on.

Who can benefit from this offer?

The SSS will condone penalties of member borrowers, making special mention of those who were affected by the Marawi siege and Mayon Volcano eruption.

How will members benefit from the program?

Members with delinquent accounts will not have the opportunity to settle their overdue loan principal and interests – in full payment or through installment basis – with respect to the SSS’ terms, depending on the member’s capacity to pay.

Whether the member is paying in full or through installment basis, the SSS will waive the loan penalties after the member has completed payment for the restructured loan.

Below is a summary of the program’s provisions, for reference:

  • Past due payments for the following loans:
    • Salary loan
    • Emergency loan
    • Old educational loan
    • Study Now, Pay Later Plan
    • Voc-tech loans,
    • Y2K loans,
    • Investments Incentive Loan
    • Other loans that were past due for at least six months as of April 2, 2018.
  • An interest rate of 3% will be implemented for restructured loans.
  • Penalties will be condoned upon full payment, with option to renew the loan after six months.
  • Members will be back to “good standing” with the SSS, be able to apply for new loans, and be assured of fully enjoying their final benefit claims in the future.
  • Members who were granted condonation in the last loan restructuring program of the SSS will no longer be accommodated.

Visit the nearest SSS branch office in your area now to know more about this offer.  The SSS Loan Restructuring Program will be available until October 1, 2018.

Reference: www.sss.gov.ph

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Mar 08

As an SSS member, you are entitled to retirement benefits as soon as you hit your 60s.  This can be a lump sum amount that you can use to start a small business, or go on a trip as a reward to yourself.  Or you can choose to receive a monthly pension, as if you are still being salaried monthly by an employer.

Can you at least have a ball park figure of how much pension you can expect to receive from the SSS later on?  You may still have about 40 years ahead of you before you hit your 60s but it won’t hurt to get a glimpse.  This way, you can think of alternative ways to secure your finances when you finally become a Senior Citizen.

SSS follows three formulas when computing for a member’s pension.  Keep in mind too that the amount of your pension will largely depend on the salary you received during your employment years, and the amount of contribution you religiously remitted to the system.

If your monthly salary is P30,000.00 and you decide to retire at the age of 60, and you have a total of 30 years of employment behind you with 30 years’ worth of contributions, your pension will be based on whichever amount is higher based on the following calculations:

Example: Average total contribution is P1,790.00 x 30 years x 12 months = P644,400.00

a. The sum of P300 + 20% of average MSC + 2% of the average MSC for each credited year of service in excess of 10 years.

P300 + 20% (AMSC) + 2% (AMSC) for each year of service in excess of 10 years

P300 + (P16,000*20%) + (P16,000 *2%*20 years)

P300 + P3,200 + P6,400

Pension: P9,900.00

 

b. 40% of the AMSC

P16,000 * 40%

Pension: P6,400.00

 

c. P1,200 if the CYS is at least 10 but less than 20; or P2,400 if the CYS is 20 or more.

Pension: P2,400 since you have more than 20 CYS.

Given the above, the retiree will be granted the P9,900 pension as it is the highest value yielded by any of the formulas.

Remember that you shall qualify as a pensioner only if you have contributed at least 120 months or 10 years to the SSS.  If not, you shall be granted a lump sum amount equivalent to your total contribution plus interests.

Most of us may still have about 20 or so years to go before we start thinking about retiring and claiming our monthly pension; but if we start right now, we would be reaping the rewards in due time.  It is our responsibility to ourselves and our families to secure our future and make sure that we shall be properly compensated for all the hard work.

One way to monitor the timely and proper posting of your contributions is by creating an online SSS account.  This way, you can check all the details of your SSS account even without going to an SSS office.

 

Reference: http://www.sss.gov.ph

 

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Mar 07

Getting sick is inevitable.  Whether you are an employee, a business person, or a stay-at-home parent, you will eventually have to take some rest to recuperate from a viral or bacterial infection.  Other times, you might get injured at work and will need some time off to heal and rehabilitate before you are able to go back to your normal daily routine.

The good news is, if you are a member of the SSS, you are entitled to sickness benefits to help you defray expenses when your capacity to earn is lessened due to being confined in bed, a wheelchair, or a hospital.

How to know if you are qualified for SSS Sickness Benefits?

  1. You have to be an SSS member.
  2. You have been sick or are injured and unable to work; you have been confined in a hospital or at home for at least 4 days.
  3. Your contributions are updated or have at least paid three months of monthly contributions before your illness or injury.
  4. All your “leave with pay” credits have been used up.
  5. Your employer is duly notified of your sickness or injury; if unemployed, voluntary, or self-employed, you must have notified SSS prior to claiming.

If your answer to all five qualifiers is “yes”, you can proceed to the nearest SSS branch to apply for the sickness benefit.

How do I notify the SSS about my illness or injury?

For EMPLOYED members:

An employed member must advise his or her employer within five calendar days of his sickness or injury.  It is the employer’s obligation to advise SSS of the employee’s condition.

  • Should you fail to notify your employer within the five-day timeframe, your confinement will be considered to have started five days before you notified him.
  • If the employer fails to notify the SSS within the five-day timeframe, your employer will be compensated only for each day of confinement from the 10th calendar day prior to notifying SSS.
  • If you notified your employer but he failed to notify the SSS and as a result, your benefits were denied, he or she must not be able to recover your daily sickness allowance.

For SELF-EMPLOYED members:

You must notify the SSS within five days after getting sick or injured.  If you are confined in a hospital, you have one year to notify the SSS.

What are the requirements when filing?

For EMPLOYED members:

Submit the following to your HR or to your company’s representative to SSS:

  1. Duly accomplished sickness notification.
  2. Identification card/s and documents (ex: PSA birth certificate)
  3. Medical documents, if any.

If the claim is work-related (or if you incurred the sickness or injury at work):

  1. Accident/sickness report from the employer, if work-connected; and
  2. Police Report (for a vehicular accident with third party involvement);
  3. Photocopy of employer’s logbook.

In case of prolonged confinements or sickness, original/certified true copy of the following:

  • Laboratory, X-ray, ECG, and other diagnostic results.
  • Operating room/clinical records that will support the diagnosis.

In case of sickness that occurred while on strike/shutdown, the member will file the necessary documents directly at the SSS.  He or she must submit the above requirements, including the following:

  • Certificate of Notice of Strike issued by the DOLE.
  • Certificate of Foreclosure.
  • Certification from the DOLE that the employee or employer has a pending labor case.
  • Certificate of Non-advancement of Payment from Employer.

For SELF-EMPLOYED Members:

  1. Duly accomplished Sickness Benefit Application (SBA)
  2. If filed by the member, present original of any one (1) of the primary ID cards/documents or two (2) secondary ID cards/documents, both with signature and at least one (1) with a photo.
  3. If filed by member’s representative:
    1. Original of any one of the Authorized Representative’s primary ID cards/documents or two secondary ID cards/documents, both with signature and at least one with a photo.
    2. Original of any one of the Member’s Primary ID cards/documents or two secondary ID cards/documents, both with signature and at least one with a photo.
  4. In case of prolonged confinements or sickness, original/certified true copy of the following:
    1. Laboratory, X-ray, ECG and other diagnostic results.
    2. Operating room/clinical records that will support the diagnosis.

How much will I receive from the SSS?

The amount you will receive will be equal to 90& of your average daily salary credit.  For example: if your average daily credit is Php 1,000, then you will receive Php 900 per day of sickness or confinement.

If you are an employed member, your employer should give you the sickness benefit in advance.

The sickness benefit is granted up to a maximum of 120 days in one calendar year.

 

Reference: http://www.sss.gov.ph

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Mar 03

Every member of the SSS is entitled to benefits and privileges and you do not necessarily have to wait until your retirement age before you take advantage of these.  One such privilege is applying for a salary loan to help you during emergencies such as home repair expenses, hospitalization, and new home appliances.  Applying for an SSS salary loan is quick and easy, especially if you have an online SSS account.

Here are the facts you need to know:

How much can you loan from the SSS if it is your first time to apply?

No two SSS members have the same exact loanable amounts; this will depend on the member’s contributions.  Your loanable amount is the average of the last 12-month salary credits (MSC).

Example:

If you are consistently paying the minimum monthly contribution of P110 with an equivalent MSC of P1,000, your loanable amount is P1,000.

If you are consistently paying the maximum monthly contribution of P1,760 with an equivalent MSC of P16,000, your loanable amount is P16,000.

The maximum loanable amount is P32,000.

How would I know if I am qualified to avail the salary loan?

A member is qualified to apply for a salary loan if he or she has paid at least 36 monthly contributions and has at least six posted monthly contributions within the last 12 months before filing the application.

If you have completed 36 months of contributions but not more than 72 monthly contributions, you will be entitled to one-month salary loan; but if you have paid at least 72 monthly contributions, you are entitled to a two-month salary loan.

I am employed and would like to apply for a salary loan with the SSS.  Should I apply through my employer or do I have the option to go directly to SSS?

A certification for the loan is required of employed members; therefore, if you are employed, you must apply through your employer.  The monthly payments will be automatically deducted from your salary and remittances will be facilitated by your employer.

I am compelled to resign from my job but I still have an outstanding loan with the SSS.  What will happen to my loan after I resign?

The employer will deduct the full balance from the proceeds of the employee’s benefits from the company; the employer shall remit the amount to the SSS.  In case the employee’s separation benefits cannot cover the full amount of the loan, the employer must report the details of the employee’s resignation to the SSS, including the full amount of unpaid loan balance.

I am a freelancer but I would like to get a salary loan from the SSS; what are the requirements and how do I apply?

The same requirements apply for freelance SSS members:

  1. The member should have paid at least 36 monthly contributions and has at least 6 posted monthly contributions within the last 12 months before the month of filing of the application.
  2. A member who has paid at least 36 months but not more than 72 monthly contributions is entitled to a one-month salary loan while those with at least 72 paid monthly contributions are entitled to a two-month salary loan.

If you are not employed by a company, you may simply file your salary loan at any SSS branch.  Fill-out an application form and photocopy your SSS ID or UMID, or any two valid IDs.

How will the proceeds of my loans be released to me?

The SSS will send a check in your name to your employer. You may have to fill out a few more documents, depending on your employer’s requirements.  Otherwise, you may just have to return the voucher attached to your check to your employer to serve as their record of your loan.  Your loan payments will be automatically deducted from your monthly salary.

You may renew your loan after paying at least 50% of your salary loan.  It is advisable that you keep an online account with the SSS so you can keep track of your payments.

If you have any questions regarding your SSS membership, send us a message and we will do our best to find the answers for you.

Reference: www.sss.gov.ph

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Mar 02

Norma worked as a private school teacher for 35 years.  Before she reached her 60th birthday, her husband advised her to begin working on her SSS retirement documents just to get a head start.  She was both sorry and thankful that she did; sorry because she discovered a problem that could cost her her entire old age pension, thankful because she discovered it before she actually filed for her retirement.

You see, Norma has had 2 sets of SSS numbers all her life and she didn’t know about it until she personally visited an SSS office to ask for a list of requirements when filing for pension claims.  Apparently, Norma applied for her very first SSS number immediately after graduating from college in 1980.  However, she did not immediately begin contributing to the SSS until two years after when she landed her first job as a teacher.  From 1980 to 1982, she tended their family’s business at the Divisoria and was salaried by her father through commissions.  She did not pay income tax or contributed to SSS during these two years of employment.

When she was hired to teach at the private school in their province, she was requested to fill-out several forms, including Pag-IBIG and SSS application forms.  Unmindful of the pile of documents she had to accomplish, Norma simply supplied all needed information and dutifully submitted these to their HR, completely forgetting that she had already applied for an SSS number two years ago.  She was issued her SSS and PagIBIG numbers, through her employer, and she contributed to both agencies every month through salary deduction.

Now that she is applying for her retirement claims, she was advised by the SSS personnel that there are two sets of SSS numbers assigned to her name.  The first one was assigned to her in April 1980 while the other one was activated in March 1982.  Thankfully, her contributions are intact but are all reflected under the second SSS number.  However, due to this discrepancy, her application for retirement pension may have to be put on hold.

What happens when a person has more than one set of SSS numbers?

An individual’s SSS number is his lifetime identity under the system; all his contributions, loans, and other SSS transactions will be reflected under his number.  Having more than one record with the SSS will surely cause delays in claiming one’s benefits such as his old age pension.

What must you do when you realize you have more than one set of SSS numbers?

The SSS recommends that you file the necessary report with the SSS as soon as you discover that you have more than one set of SSS numbers.

These are the steps in reporting the double assignment of SSS numbers:

  1. Visit the nearest SSS branch and bring a copy of your PSA birth certificate or Baptismal Certificate.
  2. Request for a blank sheet of COV-01205 or the Request/Verification Form.  Check the appropriate box (request the cancellation of multiple social-security numbers) and supply the rest of the information being asked for.
  3. Check the box indicating the consolidation of contributions.  This is especially applicable if the member has had contributions under his original SSS number and the succeeding SSS number/s assigned to him due to multiple registration.
  4. As a matter of procedure, the first number that is reported with contributions is the number that is retained.  In Norma’s case, since she did not make any contributions after she was assigned her first SSS number, it is most likely that her second SSS number will be retained.
  5. The process of consolidating all contributions and cancellation of the other SSS number takes at least a month to complete.  You will receive a letter from the SSS when the process has been completed.  Only then can you begin working on filing the documents for your claim (pension, death, etc.).

The SSS has upgraded their system so that members can create an account through the SSS website where they can view their contributions and apply updates to their personal information online.  If you still do not have an online SSS account, it may be best to create one now so you can easily check the details of your SSS membership and other important information about your claims and benefits, without having to go to an SSS office.

If you have questions about SSS, send us a message and we will do our best to find the answers for you.

Reference: www.sss.gov.ph

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Mar 01

Yesterday we featured the basic information on the Social Security System to help first-time members and SSS applicants appreciate how the social insurance system works.  Now we know that every Filipino, whether employed, self-employed, or unemployed, must have a Social Security number to become entitled to the benefits that the government agency offers.

There are two types of coverage under the SSS, one is the Compulsory Coverage which includes Employers, Employees, and Self-employed individuals.  Another type of coverage is the Voluntary Coverage or the non-mandatory registration and payment of social security contributions.

Who belongs under the Voluntary Coverage category?

  1. Voluntary Members (VM)
    1. Individuals previously covered as an SSS member (could be an EE, SE, or OFW);
    2. Must have posted at least one contribution;
    3. No longer employed, self-employed, or listed as an active OFW; he or she must not have any source of income.
    4. Chose to continue paying his SSS contributions to secure his full benefits.
  2. Overseas Filipino Workers (OFWs)
    1. A Filipino who has sought employment abroad via recruitment of foreign-based employers;
    2. Source of income is from a foreign country; or
    3. A Filipino who resides permanently in a foreign country.
  3. Non-Working Spouse (NWS)
    1. A spouse who is not employed and does not have any other source of income;
    2. He or she must be fully devoted to managing the household without any side businesses from which he or she may be deriving income.

 When does coverage of members take effect?

Your SSS insurance coverage shall take effect depending on the type of coverage you have.

  1. ER – on the first day that the employee is hired.
  2. EE – on the first day of the individual’s employment.
  3. SE –
  • On the month and year of the SE’s first monthly contribution payment, and must not be earlier than the declared “Start of Business” in the SSS Form E-1;
  • Or retroactive on the applicable month and year of the first contribution payment.
  1. OFW – On the applicable month and year of the first contribution payment based on the payment deadline for OFWs.
  2. NWS – On the applicable month and year of the first contribution payment.

The SSS Schedule of Contributions for 2018

As a member of the SSS, you must have a copy of the schedule of contributions to avoid delays in your payments.

FOR EMPLOYERS AND EMPLOYEES

sss-contribution-table-2018

 

FOR VOLUNTARY MEMBERS AND OFWs

sss-contribution-table-ofw-voluntary-self-employed

Apart from that, the SSS now requires both employers and employees to have an online SSS account.  This allows you to check the posting of your contributions and other details you need to know about your membership, even when you do not have access to an SSS branch office.  You may also apply for a salary loan right from your online account; it is a convenient and secure way of availing one of your many privileges as an SSS member.

Want to know how your pension will be computed and if you have the option to withdraw it before you reach your retirement age?  Visit us again tomorrow.

If you have questions about your SSS membership, drom us a line and we will do our best to find the answers for you.

Reference: http://www.sss.gov.ph

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What is the SSS?

Feb 28

If you are graduating from college in a few months or have just recently started applying for a job, you are most likely to apply for your very own SSS membership.  Like what I said in my previous entry, for the young and the restless, an SSS number is nothing more than a pre-employment requirement that needs to be accomplished and submitted.  I had to learn the facts on my own and when I did, I was thankful I worked on my membership at an early age and have not neglected to pay my contributions ever since.

What exactly is the SSS and how much of your income should go to it?  Is it really wise to invest in it now while you’re young or would you much rather put your hard-earned money in a private life insurance firm that secures both you and your dependents?

Find the answers to these questions, and more, as I share to you what I’ve learned over the years about SSS and why it is considered one of the most important memberships and investments you should have.

What is the SSS?

The Social Security System (SSS) is an insurance program mandated by the Philippine government to cover all income earners in the private sector.  Government employees are covered by GSIS but also have the option to voluntarily contribute to the SSS.

How much should I be paying SSS, whether I am an employed member or a voluntary member?

It really all depends on your compensation.

An employed member must be contributing 11% of the monthly salary credit, not exceeding P16,000.  The amount is shared by the employee and his employer in the following rates:

  • Employer – 7.37%
  • Employee – 3.63%

Example:

Monthly salary: P30,000

Contribution is based on: P16,000 (highest monthly salary credit)

Amount to be paid by EMPLOYEE to SSS: P581.30

Amount to be paid by EMPLOYER to SSS: P1,208.70

Your TOTAL CONTRIBUTION SHOULD BE: P1,790 per month

Self-employed and voluntary members must contribute at a rate of 11% of the monthly salary credit which is then based on the monthly earnings declared at the time of registration:

  • OFWs – MSC is P5,000
  • Non-working spouses – MSC is based on 50% of the working spouse’s last posted monthly salary credit, but not lower than P1,000.

What is compulsory coverage and who are under this type of coverage?

Compulsory coverage is the mandatory registration of employees, employers, and self-employed persons with the SSS.

They are the following:

Employer (ER) – any person who pays for the services of another person for his business, trade, industry, or undertaking.

Employee (EE)

  • A worker in the private sector, whether permanent, temporary, or provisional, and not over 60 years old;
  • A house helper who is not over 60 years old;
  • A seafarer, upon signing of the standard employment contract and actual deployment by the manning agency and the foreign principal;
  • A worker of a foreign government or international organization, or its wholly-owned instrumentalities, with an approved Administrative Agreement with the SSS.

Self-employed (SE)

  • Anybody who is engaged in trade, business, or occupation but is not employed by anyone other than himself;
  • Derives an income of at least P1,000 a month from his/her physical and mental efforts, and
  • Is not over 60 years old.

Tomorrow we shall feature voluntary membership, insurance coverage, and the contribution table for 2017.  Stay tuned!

If you have any questions about your SSS membership, send us a message and we will do our best to find the answers for you.

Reference: www.sss.gov.ph

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Feb 27

When I first got my SSS number, I just thought I had one pre-employment requirement accomplished successfully.  I was just happy to be able to submit my SSS number to the HR department of my first-ever job and that was it.   Little did I know that my 10-digit SSS number would be my lifetime identification with the Social Security System and would be my ticket to various benefits that I would need as I traipsed my way into adulthood.

So if you are adulting (as most fresh graduates and young professionals like to call it these days), I am pretty sure you will find this article helpful.  This is a summary of the benefits you can get (and are entitled to!) as a member of the Social Security System.  Yes, you don’t just look forward to your pension (which, at this point, is probably one of the strangest things you’ll hear) from SSS because there are a lot of other benefits you can avail from the agency while you are still an active, contributing member.

  1. Sickness Benefit

You will get sick and sometimes, you will require more than just bed rest and time off of your laptop.  You might get injured while working on a project.  You might need to have some bladder stones removed.  Should any of these happen (we hope not!), you can get a daily cash allowance from the SSS to compensate the days you were not able to go to work.

Conditions: Your confinement should last for at least four days and all your company sick leaves should already be maxed out (so yes, it has to be a serious illness).  And when SSS checks your contributions, you should have at least made three months’ worth of contributions within the last 12 months prior to your confinement.

How much can you get? The daily allowance is equivalent to 90% of your average daily salary credit.

  1. Maternity Benefit

Whether you gave birth or had a miscarriage, you are entitled to SSS maternity benefits in the form of daily cash allowance.

Conditions: You should have at least three months’ work of contributions within the last 12 months prior to confinement.

How much can you get? The daily allowance is equivalent to 100% of your average daily salary credit.  If you gave birth through normal delivery or had a miscarriage, this will be multiplied by 60 days.  If you had a cesarean section, this should be multiplied by 78 days.

  1. Disability Benefit

This applies whether you’ve been partially or totally disabled.  This may be in the form of a monthly pension or a lump sum amount.

Conditions: You should have at least a month’s contribution before the semester of disability.  How do you know whether you should receive a monthly pension or the lump sum amount?

If you made at least 36 monthly contributions and all these are acknowledged by the SSS, you will get the monthly disability pension.  Otherwise, you get the lump sum amount.

How much can you get? Monthly disability pension ranges from P1,000 to P2,400 and a monthly supplemental allowance of P500, depending on your years of service.

  1. Death Benefit

If you are the beneficiary of a deceased SSS member, you may receive a monthly pension or a lump sum amount, depending on whether you are a primary or a secondary beneficiary.

Primary beneficiaries are the spouse and dependent children of the deceased SSS member.  Secondary beneficiaries are dependent parents.

Conditions: If the member made at least 36 monthly contributions, the beneficiaries will receive a monthly death pension.  If the contributions are lower than 36 months, the beneficiaries get a lump sum amount.

How much will the beneficiaries get?  The monthly death pension ranges from P1,000 to P2,400, depending on the deceased member’s years in service.  If the member has dependent minor children, they will get a pension equivalent to 10% of the member’s monthly pension or P250, whichever is higher.  They also get a 13th-month pension every December.

  1. Funeral Benefit

An individual is entitled to claim the funeral benefits if he or she shouldered the burial expenses of a deceased SSS member.

Conditions: You should have at least one contribution if you are a voluntary, self-employed, or OFW member.  Employees automatically get funeral benefits as long as they are covered by their employers.

Amount: The amount ranges from P20,000 to P40,000 depending on the member’s contributions and years of service.

  1. Employees’ Compensation (EC) Program

Employees who acquire a sickness or injury, leading to their permanent disability or death, due to their profession are entitled to cash benefits from the EC Program.

Conditions: The injury, sickness, or death shall undergo evaluation and should the EC find that these were caused by intoxication, negligence, and self-harm, the member shall not qualify for the EC Program.

Amount: SSS shoulders the medical services, appliances, and rehabilitation services of the injured employee.  This benefit may coincide with the SSS sickness and disability benefits; this means that the EC does not supersede whatever other benefits the employee is entitled to from SSS.

  1. Salary Loan

Thinking of getting your mom an automatic washing machine?  You can by applying for a salary loan with the SSS.

Conditions: You will qualify for the SSS salary loan if you have at least six months’ worth of contributions within the last 12 months.  The SSS will determine your loan payments depending on the contributions you have made.

Amount: The loan is equivalent to your average salary credits in the last 12 months.  An interest rate of 10% per year will be applied to the principal amount.  You may renew your loan after you have paid off at least 50% of the original amount.

  1. P.E.S.O Fund

P.E.S.O stands for Personal Equity and Savings Option.  It is a program of the SSS that provides members with additional savings options, especially to those who are capable of contributing more than the required rates of employed and voluntary members.

Conditions: You should not be older than 55 years old and have at least six months’ worth of contributions within the last 12 months.  If you are an employed member, you may talk to your HR or accounting department and advise them that you have enrolled to the P.E.S.O Fund of the SSS; see if they can facilitate your monthly contributions to your P.E.S.O account through salary deduction.

Amount: Your benefits from the P.E.S.O fund will be released to you upon retirement, disability, or death claim through a monthly pension, lump sum, or combination of both.

The secret to making your SSS membership work for you is to be faithful in paying your contributions.  If you should save or set aside some amount as your savings, make your SSS contributions mandatory against your personal budget, especially if you are self-employed.

Insurance is something you pay for but wish you never have to use.  Yet everyone is encouraged to invest in insurance because you never know when you will need additional funds for emergency cases.

Welcome to your adult life!

Source: http://www.sss.gov.ph

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