Get Social Security System (philippines) - Wikipedia

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);

Republic of the Philippines Social Security System. 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. Monthly pension – a lifetime cash benefit paid to a retiree on aregular basis.

However, once you become a covered SSS member, you become a member for life. The contributions that you remit become savings for the future that will serve as basis for the granting of social security benefits in times of contingencies. Membership cannot be withdrawn and contributions paid cannot refunded.

If you are self-employed or a voluntary member, the frequency of your contribution payments can be on a monthly or quarterly basis. A quarter covers three (3) consecutive calendar months ending on the last day of March, June, September, and December.

Unless you nominate a specific payment date, your lump sum is payable on your 55th or 60th birthday and will be paid to you soon after that date. If your application is made in the six months after you reach age 55 or 60, your lump sum is payable on the day the scheme administrator receives your complete application.

All income earning SSS members are required to contribute monthly into the fund, the amount depends will depend on their salary bracket. In exchange for the said monthly contributions, members will enjoy insurance benefits such as sickness, maternity, disability, retirement, death and funeral and salary loan.

Overview. The Federal Benefits Unit (FBU) in Manila provides services for the Social Security Administration (SSA) and other federal benefit agencies to customers in the Philippines and over 40 other countries in the Asia-Pacific Region.