Retirement Benefits on Social Security System

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SSS in the Philippines

Social Security System (SSS) is one of the three mandatory employee benefits in the Philippines. The other two are: Home Mutual Development Fund for provident savings and PhilHealth, practical means of paying adequate medical care.

Employees working in private companies, like the OFWs (Overseas Filipino Workers) are required to have this kind of contribution. all employees under the age of 60, earning at least Php 1,000.00 pesos per month are obliged to have an SSS savings. Government employees are also mandated to contribute on similar insurance system, the Government Services Insurance System (GSIS).

For the self-employed, membership on SSS is optional. But, for your own security during your retirement age, it is a must to have an SSS savings..

Meanwhile, foreign personnel are also required to make contributions, unless in some circumstances on Philippine's social security agreement.

How SSS contribution is collected

The contribution is collected from the employee's salary. Employers will withheld this every month then submit to the SSS office whether monthly or quarterly basis.

Employers are also required to give contributions, more or less 180 % of employee's share.

Social Security in the USA

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Twenty years to retirement: the posibilities and all

 I'll be forty this year and I'll wait for another twenty years to avail of the SSS retirement benefits. All I have to do is diligently pay for my obligations and repay my loans to lessen deductions.

Retirement benefits will cover my:

  1. Medication - or hospitalization, if ever I got sick or afflicted with diseases when I reach the old age of 60 or so.
  2. Disability - if ever I'll encounter accidents while working. Untimely retirement like this will be shouldred by my SSS contribution and whatever aggregates on my savings that the agency will give me back on a monthly basis.
  3. Death & Funeral - Who should be afraid of death? We're all going there. At least, the expenses will be lessen because I'm ready to face the end of my life here on Earth. Too, morbid a though, huh?! Yet, we must be brave to face it at all times.

If time permits, I can extend my scholarly life by continuing to maintain family business during that retirement period or indulge in long vacation outside the country.

As we grow old, we should widen our horizon by traveling. Be a tourist. There are programs for the elderly that will benefit me and enjoy the rest of my life.

That remains to be seen.

For the next twenty years.

Great Social Security Debate on CNBC c/o InsideScoop

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How Social Security works c/o shanedk

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Comments 34 comments

loriamoore 5 years ago

Good information. I have pkanned for retirement, but still worry that the US Social Security system will be bankrupt and I'll be eating dog food. :-)


travel_man1971 profile image

travel_man1971 5 years ago from Bicol, Philippines Author

Thanks for the info, Ms. Lori. SSS in the Philippines was also in the brink of bankcruptcy due to some big loans of big national companies who failed to pay the capital. Fortunately, the people bombarded the agency with appeals for that companies to pay the sum, little by little every year. I still got 20 years to pay for my SSS contribution in order to avail of that retirement benefits.


thesailor profile image

thesailor 5 years ago from Seven Seas

Still a long way to work, travel man. They say, it's worthy to be having retirement benefits that will finance you for medication and as you said, death and funeral, too!


travel_man1971 profile image

travel_man1971 5 years ago from Bicol, Philippines Author

It's good to prepare for one's future, sailor. We never know what will happen in our lives for the next 10 or 20 years.


Romeo Mendez ssno-0318870320 5 years ago

Requst the status of my retirement benefits i apllied on aug.03.2011 in Tabaco city branch Region V Please advice


travel_man1971 profile image

travel_man1971 5 years ago from Bicol, Philippines Author

@Romeo Mendez: Hello, Sir. This was my note at the Philippine SSS - Tabaco City Branch regarding your request.

Please help Mr. Romeo Mendez SSS #no-0318870320 regarding his predicament:

"Request the status of my retirement benefits. I apllied on aug.03.2011 in Tabaco city branch Region V . Please advice."

This was the request of Mr. Mendez via my hub (blog on HubPages) regarding SSS. Please follow this link for your understanding. Thanks.

http://hubpages.com/money/Retirement-Benefits-on-S...

I hope this will help you soon.


ellahall2011 profile image

ellahall2011 5 years ago

Great information!


travel_man1971 profile image

travel_man1971 5 years ago from Bicol, Philippines Author

@ellahall2011: Thanks for dropping by. Elderly people always ask me regarding their unaccounted benefits. I hope this might help clear their understanding regarding their claims, especially here in the Philippines.


eduardo g nievera 4 years ago

dir sir/mdam ako po ay mag pafile ng pensyon q anu po b ung mga kailangan n papeles o requirements pra mkakuha po aq ng pensyon


travel_man1971 profile image

travel_man1971 4 years ago from Bicol, Philippines Author

@eduardo g nievera: Just log-in or sign-up or visit any SSS office.

Magpi-fill up po kayo ng application for loan. Kunin nyo po muna ang SSS Contribution reports. Sila na rin po ang magbibigay na dagdag na requirements.


nedz 4 years ago

meron po bang lump sum lng sa sss ung wla ng mku2hang pension as in lump sum lng. in bigger amount to start new business?????? plss answer.


travel_man1971 profile image

travel_man1971 3 years ago from Bicol, Philippines Author

@nedz: Oo naman. Puwede kang kumuha ng lump sum, pero I know na mayroon pa rin monthly benefits 'yong retiree na mag-a-avail.


gerry fines 3 years ago

can you give me an update of the status of my retirements application been apllied last november last year but till now i still dont have any updates please post an updates. thank you very much


travel_man1971 profile image

travel_man1971 3 years ago from Bicol, Philippines Author

@gerry fines: This is only an article. You should go to the nearest SSS branch so that you can update your status or call the SSS Hotline. The 24-hour SSS phone numbers are: 920-6446 to 55.

I hope this helps.


William M 2 years ago

I am an SSS member covering date 01-1974 (Record from SSS) start of my employment. I filed my retirement last year month of September and received the lump sum last December of the same year. The computation of benefits from SSS showed only the beginning from 1981 up to the last year of my contribution stop and retirement period 2010. There were four (4) company's I worked with in where not in the list of SSS employment record, these starting from 1974 to med of 1981, in the years where computer is not yet born. I made a complained, but SSS staff told me to produce a certification from these 4 companies.

What will I do and where I should go as 2 of these company is no longer exist. How could I claim the unpaid benefits?


travel_man1971 profile image

travel_man1971 2 years ago from Bicol, Philippines Author

@William M:Claims where companies no longer exist is really hard to process. You can no longer follow the paper trail, just like what happened to me. We approached the NLRC(National Labor Relations Commission). They'll issue the form for your complaints and schedule for some hearing between you and the company's representative. It's just a delaying tactic.

Better rely on your contribution's copy that is issued by SSS and enjoy the benefits of it.

Really,a certification is needed to resolve you issues but it will take time.

If you want your benefits ASAP, then, you'll just have to go one with your claims.


travel_man1971 profile image

travel_man1971 2 years ago from Bicol, Philippines Author

@William M:Claims where companies no longer exist is really hard to process. You can no longer follow the paper trail, just like what happened to me. We approached the NLRC(National Labor Relations Commission). They'll issue the form for your complaints and schedule for some hearing between you and the company's representative. It's just a delaying tactic.

Better rely on your contribution's copy that is issued by SSS and enjoy the benefits of it.

Really,a certification is needed to resolve you issues but it will take time.

If you want your benefits ASAP, then, you'll just have to go one with your claims.


Juvily d. Lising 2 years ago

GOOD AFTERNOON I AM 27 YEARS OLD NOW, BUT I'M PLANNING TO RETIRE IN MY WORK EARLIER MAYBE , AT THE AGE OF 40 AS OF NOW I HAVE 3YRS OF CONTRIBUTION In SSS, IF I WILL STOP MY CONTRIBUTION AT THE AGE OF 40 DO I ENTITLED TO A RETIREMENT BENEFIT?

PLEASE EMAIL ME YOUR ANSWER at simplyjurie21@yahoo.com

Thank you for your time & God Bless


travel_man1971 profile image

travel_man1971 2 years ago from Bicol, Philippines Author

@Juvily d. Lising: Why so early? You can still have a personal contribution until you reach the age of 60 as the standard retiring age here in the PH.

Yes, you are also entitled to such benefits (retirement, death, etc.).


princess ann joaquin 2 years ago

puwede po ba mag educational loan sa 3yrs lang po nahulugan ng mama ko pero hindi na po nahuhulugan i mean hindi na po nasundan na mahulugan po.??


rosario r. tolentino 2 years ago

sir,may i ask a question?my mother is already applied for retirement claim(lump sum) last december 2013 but upto now there's no feedback about that claims?


travel_man1971 profile image

travel_man1971 2 years ago from Bicol, Philippines Author

@princess ann joaquin: You can request for the payment sheet and make them assess of the kind of loan that you can avail.

As for me, I got my educational loan in just two years of contribution during my college days (I was a working student).

Puwedeng-puwede kang maka-loan.


travel_man1971 profile image

travel_man1971 2 years ago from Bicol, Philippines Author

@rosario r. tolentino: You can call the SSS branch where your mom applied for that retirement claim.Then, ask them why there's been a delay on the transaction.


anna84 2 years ago

Mam/sir ask lang po ilang buwan po ba talaga ang process ng retirement? Last verify ko po june 1, na file ko po march 13, ang status is "process evaluation" kailangan kasi ng pera sana po kasi na stroke po ung retiree.


travel_man1971 profile image

travel_man1971 2 years ago from Bicol, Philippines Author

@anna84: You have to persistently follow-up your issue regarding the issuance of the retirement benefits. A justifiable reason should make a speedy release of the retiree's money.

It's a case-to-case basis. I'm sure you know what is happening in our bureaucracy.


ramon tuto 2 years ago

How long does it takes for sss id cancellation?will you pls help me.i already retired but still did not get my benefits for this reason.its been four months i have waited till now theres still no results.will you pls give some piece of advice.thank you..


travel_man1971 profile image

travel_man1971 2 years ago from Bicol, Philippines Author

@ramon tuto: It was a week after Typhoon Glenda when I visited the local SSS branch in Naga City here in Bicol PH. In my case, I've lost my SSS ID and the staff said that I will pay P300 +++ for the issuance of new one.

While in you case, you want an SSS ID cancellation, Sir Ramon.

It's not stated in the Form Unified-Multi Purpose ID (UMPI) Card application.

You can still follow-up your benefits, Sir. It's the result of your decades of hard work.

I'm just an ordinary citizen who wrote this article. It's still 20 years for me to await for my retirement.

If you're in A-1 of health, you can visit the nearest SSS branch at your place and seek advice via the Senior Citizen lane there.

God bless you and good luck, Sir Ramon.


oscar d. gamboa 2 years ago

If i will file my dissability im stiill 55 years old after I reach at the age of 60 can Istill file my retirement


travel_man1971 profile image

travel_man1971 2 years ago from Bicol, Philippines Author

@Oscar D. Gamboa: Sir, here's what I've found at the SSS Official site.

FOR DISABILITY: he member has paid at least one month contribution before the semester of disability;To qualify for a disability pension, the member must have paid at least 36 monthlycontributions prior to the semester of disability;If with less than 36 monthly contributions, he/she is granted a lumpsum amount.

FOR RETIREMENT: The member is at least 60 years old (optional retirement), separated from employment or has ceased to be self-employed; and had 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 had paid at least 120 monthly contributions prior to the semester of retirement.


Oliver V. Arcena 2 years ago

Hello!, ask ko lang magsisixty years old na po ko sa February 2015 pede ko ba malaman kung magkano ang makukuha ko if 13 month ang plan sa retirement at magkano monthly pension?Magkano po ang makukuha naman kapag 18 month ang plan sa retirement at magkano monthly pension?..thanks


ask ko lng po kng anung binifts.ang mkukuha ng kapatid ko nakakuha na sya ng montly ang mother ko pati ang anak nia pero ntapos na ano pa ang maclaim nia pwede ba cya mg lamsum 22 months ago

Pwede ba ako mg file Sa sss kng meron kng sakit na tuberculusis Anong pwede dto pkitulungan po ako

Para mgamit KO ang sss ko


travel_man1971 profile image

travel_man1971 22 months ago from Bicol, Philippines Author

I can't answer the last two questions here. You can inquire at the nearest SSS office for your predicaments.


ben 19 months ago

ask ko lang po, ang tatay ko po ay 78 years ol na po.. ngaun lang po natapos ang ang SSS niya para magpension binayaran namin ng voluntary payment...bayaran po ba ng sss ang 18 years niya diba nag magpesion ay 60?


Jovita Radea B. Maligro 15 months ago

From 1973 I have been member of SSS. There were times I have been working with multiple employers. Do you consider all my contributions in computing my retirement benefits? Please review my records and make necessary adjustment. Thank you.

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