Tag Archive: SSS Retirement Benefits


08 - 16

The SSS Calamity Loan is a special privilege offered by the SSS to members who reside, work, or have properties in areas declared by the government to be under a state of calamity.  This type of loan is not open to all and not readily available unless the government and SSS come to an agreement during emergency situations.  What SSS members can truly count on are the following benefits that are automatically available to members with updated contributions and loans.

For your ready reference, below is a summary of SSS benefits that every member can enjoy:

TYPE OF BENEFIT QUALIFYING CONDITIONS AMOUNT OF BENEFIT
SICKNESS

A daily cash allowance paid for the number of days a member is unable to work due to sickness or injury.

  • The member is unable to work due to sickness or injury and is confined either in a hospital or at home for at least four days.
  • He/she has paid at least three months of contributions within the 12-month period immediately before the semester of sickness or injury.
  • He/she has used up all company sick leaves with pay for the current year and has duly notified his/her employer; or
  • He/she must notify the SSS directly by filing a sickness benefit application if he/she is separated from employment, a self-employed or voluntary member, including overseas Filipino worker OFW) members.
  • The amount of the member’s daily Sickness Benefit allowance is equivalent to 90% of his/her average daily salary credit (ADSC).
  • The Sickness Benefit is granted up to a maximum of 120 days in one calendar year.
Maternity

A daily cash allowance granted to a female member who is unable to work due to childbirth or miscarriage.

  • The member has paid at least three months of contributions within the 12-month period immediately before the semester of her childbirth or miscarriage.
  • If employed, she must have given notification of her pregnancy through her employer, or
  • She must directly notify the SSS if she is separated from employment, a self-employed or voluntary member, including OFW-member.
  • The amount of the daily Maternity Benefit allowance is equivalent to 100% of her ADSC, multiplied by 60 days in case of normal delivery/miscarriage/ ectopic pregnancy without operation/H-mole, or by 78 days for caesarean section delivery/ ectopic pregnancy with operation.
  • The Maternity Benefit is granted up to the first four deliveries or miscarriages only.
Disability

A cash benefit granted – either as a monthly pension or a lump sum amount – to a member who becomes permanently disabled, either partially or totally.

  • The member has paid at least one month contribution before the semester of disability.
  • To qualify for a monthly disability pension, he/she must have paid at least 36 monthly contributions prior to the semester of disability.
  • If with less than 36 monthly contributions, he/she is granted a lump sum amount.
  • If qualified, the member is granted a monthly Disability Pension, plus a P500 monthly Supplemental Allowance.
  • The lowest monthly Disability Pension is P1,000 if the member has less than ten credited years of service (CYS); P1,200 if with at least ten CYS, and P2,400 if with at least 20 CYS.
Retirement

A cash benefit granted either as a monthly pension or a lump sum amount to member who can no longer work due to old age.

  • The member is at least 60 years old (optional retirement), separated from employment or has ceased to be self-employed; and has paid at least 120 monthly contributions prior to the semester of retirement; or
  • The member is 65 years old (mandatory retirement), whether employed or not; and has paid at least 120 monthly contributions prior to the semester of retirement.
  • To qualify for a monthly retirement pension, the member must have paid at least 120 monthly contributions prior to the semester of retirement.
  • If with less than 120 monthly contributions, he/she may be granted a lump sum amount, but will also be given the option to continue paying contributions to complete the 120 months to become eligible for monthly pension.
  • If qualified, the member is granted a monthly Retirement Pension, plus a 13th month pension payable every December.
  • The retiree has the option to receive the first 18 months pension in lump sum, discounted at a preferential rate of interest to be determined by the SSS. This option can be exercised only upon filing of the first retirement claim, and the Dependent’s Pension and the 13th month pension are excluded from the advanced 18 months pension.
  • If the member has dependent minor children, they are given a Dependent’s Pension equivalent to 10% of the member’s monthly pension or P250, whichever is higher.  Only 5 minor children, beginning from the youngest, are entitled a Dependent’s Pension. No substitution is allowed.
  • The lowest monthly Retirement Pension is P1,200 if the member has 120 monthly contributions or at least 10 CYS; or P2,400 if with at least 20 CYS.
Death

A cash benefit granted – either as a monthly pension or a lump sum amount – to the beneficiaries of a deceased member.

  • A monthly death pension is granted to primary beneficiary (legitimate spouse until he/she remarries, and dependent legitimate, legitimated or legally adopted, and illegitimate children)of the deceased member who had paid at least 36 monthly contributions prior to the semester of death.
  • A lump sum amount is granted to the primary beneficiary if the deceased member had less than 36 monthly contributions.
  • If there are no primary beneficiaries, the member’s secondary beneficiaries (dependent parents) shall be given a lump sum amount.
  • If qualified, the member’s primary beneficiary is granted a monthly Death Pension, plus a 13th month pension payable every December.
  • If the member has dependent minor children, they are given a Dependent’s Pension equivalent to 10% of the member’s monthly pension or P250, whichever is higher. Only 5 minor children, beginning from the youngest are entitled to Dependent’s Pension.  No substitution is allowed.
  • The lowest monthly Death Pension is P1,000 if the member had less than 10 CYS; P1,200 if with at least 10 CYS; and P2,400 if with at least 20 CYS.
Funeral

A cash benefit given to whoever paid for the burial expenses of the deceased member.

  • The employee-member was reported for coverage by his/her employer;
  • A self-employed member/OFW/non-working spouse who had at least 1 contributor payment;
  • A voluntary member who was previously covered either as employed/self-employed/OFW and had at least one contribution/payment.
  • The Funeral Benefit is a variable amount ranging from a minimum of P20,000 to a maximum of P40,000, depending on the member’s paid contributions and CYS.
Employees’ Compensation Program (EC)
  • Cash benefit for temporary sickness or disability, permanent partial or total disability, and death.
  • Medical services, appliances, and supplies
  • Rehabilitation Services
  • The EC Program aims to assist those who suffer from work-connected sickness or injury resulting in disability or death. Starting June 1984, the benefits under the EC Program may be enjoyed simultaneously with benefits under the Social Security Program, thus, allowing double compensation for covered members who suffer work-related contingencies.  All SSS-registered employers and their employees are compulsorily covered under the EC Program and need not register again under the EC.
Salary Loan

A cash loan granted to an employed, currently-paying self-employed or voluntary member.  It is intended to meet the member’s short-term credit needs.

  • An employed, currently-paying self-employed or voluntary member who has six posted monthly contributions within the last 12 months prior to the month of filing of loan application.
  • For one-month loan, the member must have 36 posted monthly contributions prior to the month of filing of application.
  • For two-month loan, the member must have 72 posted monthly contributions prior to the month of filing of loan application.
  • If employed, the member’s employer must be updated in the payment of contribution and loan remittances.  The member must also be updated in the payment of other loans with SSS.
  • A one-month loan is equivalent to the average of member’s last 12 monthly salary credits (MSCs), or the amount applied for, whichever is lower.
  • A two-month loan is equivalent to twice the average of the member’s last 12 MSCs posted, rounded to the next higher MSC, or the amount applied for, whichever is lower.
  • The loan shall be charged an interest rate of 10% per annum until fully paid, based on diminishing principal balance, and shall be amortized over a period of 24 months.
  • If the loan is not fully paid at the end of the term, interest shall continue to be charged on the outstanding principal balance until fully paid.
  • In case of default, the arrearages/unpaid loan shall be deducted from the member’s short-term benefit claims (e.g. sickness/maternity), if any, or from his/her final benefit claim (e.g. death, retirement, total disability).
  • The loan can be renewed after payment of at least 50% of the original loan amount and at least 50% of the loan term has lapsed.

Source: https://www.sss.gov.ph

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07 - 27

Matagal na akong hindi nakapag hulog sa aking SSS / Philhealth account; ngayon, may sakit ako at maco-confine.  Pwede ko bang habulin ang mga nalibanan kong buwan para makapag claim pa din ako ng benefits?

This is a common question we receive from followers.  Apparently, a lot of Filipinos think that paying their monthly contributions for government-mandated insurances is optional.

It isn’t.  We all need to activate our SSS and Philhealth memberships and diligently remit our monthly contributions to ensure that we are protected and covered by benefits.

We summarized SSS and Philhealth’s requirements and needed premium payments before a member can claim his benefits from these government agencies.  We aim to encourage everyone to update and maintain their monthly contributions to ensure hassle-free benefits claim anytime emergency strikes.

Read on.

Philhealth

  • Member must have paid at least three months’ premium contributions within the immediate six-month period prior to the first day of confinement to avail of benefits.
  • Philhealth does not accept retroactive payments for unpaid months.
  • Contributions made on admission date, during the confinement period, or after the member or dependent is discharged from the health care institution will not be counted as qualifying contributions.

What are the requirements for eligibility and when is a member eligible to claim?

Sponsored Members Date of hospitalization/availment must be within the effectivity period indicated in the member’s ID and MDR.
Individually Paying Members 1. There are certain confinement cases wherein three months worth of premium within the last sixmonths (3/6) prior to confinement is acceptable.

2. For pregnancy-related cases, dialysis, chemotherapy, radiotherapy and other selected surgical procedures, the member must have paid nine months worth of premium within the last twelve months.

Lifetime Member The member just has to show their Lifetime ID Card; no need to pay premiums anymore.  This now includes Senior Citizens; in which case, all they need to show is their SC IDs.
Employed Members Three months worth of premium within the last six months (3/6) prior to hospitalization.
Overseas Workers Date of hospitalization/availment must be within the coverage period specified in the member’s MDR.

 

SSS

A. Maternity Benefits

The maternity benefit is offered only to female SSS members.  A member is qualified to avail of this benefit if:

  1. She has paid at least three monthly contributions within the 12-month period immediately preceding the semester of her childbirth or miscarriage.
  2. She has given the required notification of her pregnancy to SSS through her employer if employed; or submitted the maternity notification directly to the SSS if separated from employment, a voluntary or self-employed member.
  3. SSS does not accept retroactive payments for unpaid months.

The maternity benefit shall be paid only for the first four (4) deliveries or miscarriages.

B. Sickness Benefits

The sickness benefit is a daily cash allowance paid for the number of days a member is unable to work due to sickness or injury.

A member is qualified to avail of this benefit if:

  1. He is unable to work due to sickness or injury and confined either in a hospital or at home for at least four days;
  2. He has paid at least three months of contributions within the 12-month period immediately before the semester of sickness or injury;
  3. He has used up all current company sick leaves with pay; and
  4. He has notified the ER, or directly the SSS, if separated from employment, VM or SE regarding his sickness or injury.

C. Retirement

The retirement benefit is a cash benefit paid either in monthly pension or as lump sum to a member who can no longer work due to old age.

A member is qualified to avail of this benefit if:

  1. Member must have paid at least 120 monthly contributions prior to the semester of retirement and is any of the following, whichever is applicable:
    • At least 60 years old and separated from employment or has ceased to be an SE/OFW/Household Helper (optional retirement);
    • At least 65 years old whether still employed/SE, working as OFW/Household Helper or not (technical retirement);
    • At least 55 years old and separated from employment or has ceased to be an SE, if an “underground mineworker” (optional retirement);
    • At least 60 years old whether still employed/SE or not, if an “underground mineworker” (technical retirement); or
    • A total disability pensioner who has recovered from disability and is at least 60 years old (or at least 55 years old, if an underground mineworker).
  2. A former retiree-pensioner whose monthly pension was suspended due to re-employment / self-employment and is now separated from employment or has ceased to be an SE.
  3. A member who is 60 years old and above, but not yet 65, with 120 contributions or more may continue paying as VM up to 65 years old to avail of the higher amount of benefit.

If you have questions regarding benefit claims from Philhealth and SSS, send us a message and we will do our best to find the answers for you.

 

Sources:

www.sss.gov.ph

www.philhealth.gov.ph

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Closet Queen

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