Guide on SSS Retirement Benefits for Senior Members of the State Institution
SSS RETIREMENT BENEFITS – Here is a complete guide for the members of the Social Security System (SSS) in availing a monthly pension or lump sum.
A huge part of the Filipino populace is working in the private sector or have worked in the said field. Thus, many Filipinos are also members of the Social Security System (SSS), one of the biggest state-run social insurance institutions in the country.
The SSS members submit a contribution every month based on the rate set as per their source of income and the amount they earn monthly. Collective contributions can qualify a member to the benefits, loans, and other services offered by the state institution.
Among the offers are the SSS Retirement Benefits which can come either in a monthly pension or a one-time lump sum. These can be claimed by members of the state-run social insurance institution who have reached between 60 to 65 years of age.
If you have reached 60 years old and you have a total of at least 240 monthly contributions posted in your account, you may be eligible to claim a monthly pension. You may visit — SSS Monthly Pension — A Complete Guide on this Retirement Benefit.
If you are 60 years old but your total monthly contributions has not reached 240, you may avail the one-time lump sum which is also one of the SSS Retirement Benefits. If you want to find out the details about this grant, you may visit — SSS Lump Sum — A Complete Guide on this Retirement Benefit.
Meanwhile, if your total contributions is not far from the 240 monthly contribution-limit set by the institution, you have an option to continue posting contributions until you are 65. Once it reaches the 240-limit, you may avail the monthly pension.
You may also visit — SSS Cash Loan Application Form You May Download Online to Apply
