SSS Monthly Pension — A Complete Guide on this Retirement Benefit

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Guide on SSS Monthly Pension Eligibility Criteria

SSS MONTHLY PENSION – Here is a guide on the qualifications in claiming this retirement benefit offer of the Social Security System.

SSS members who reach the age of 60 years old may avail the a Retirement Benefit — either a pension or a one-time lump sum. Undeniably, most members aspire for the pension.

SSS Monthly Pension
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To qualify for the SSS Monthly Pension as the specific type of retirement benefit you wish to avail, the member must meet the following conditions:

  1. A minimum of 120 monthly contributions must have been made before the semester of retirement.
  2. The age requirement is either being between 60 to 64 years old during the application for Retirement Benefit, or being at least 65 years old at the time of submitting the claim online.
  3. Registration in the My.SSS facility on the Social Security System website is mandatory.
  4. A disbursement account must be enrolled in the Bank Enrollment Module of My.SSS. Accepted options include UMID-ATM, UBP Quick Card, or any bank accredited by PESONet.
  5. It is important to not possess any canceled or multiple Social Security (SS) numbers.
  6. There must be no outstanding loan balance under the Stock Investment Loan Program, Privatization Fund Loan Program, Educational Loan Program, or Vocational Technology Loan Program.

Under the SSS Monthly Pension, there are several benefits for the pensioners. Here is a list of what you can get:

  1. A regular monthly pension for retirees provided by SSS depending on the total contributions of the retiree, the years of employment, the number of dependents, etc.
  2. An additional benefit of P1,000, implemented in January 2017.
  3. The 13th month pension, which is disbursed annually in December.
  4. If the retiree has dependent minor children, they are eligible for a Dependent’s Pension equal to 10% of the member’s monthly pension or a minimum of P250, whichever is greater.

To process your benefit claim, simply head to a branch of the Social Security System nearest to you.

If you are already 60 years old but you have less than 120 monthly contributions, you may continue to submit your contributions until you are 65 years old or you may avail the one-time lump sum.

You may visit — SSS Lump Sum — A Complete Guide on this Retirement Benefit.

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