How Many Contributions Are Needed to Get SSS Pension Benefit
SSS Pension is a monthly benefit given to SSS Member after their retirement. In order to receive SSS Pension after retirement, the member must have paid minimum required contributions to the SSS.
After working for many years, the employee retires but they still need a regular income to live a comfortable life. The SSS Pension Benefit is paid every month to help the retired employee (SSS Member) to live their dream life without financial struggles.
Who is Eligible for SSS Pension?
In order to know how many contributions to avail SSS Pension Benefit in Philippines, you should know its eligibility criteria. If you meet its minimum eligibility criteria, only then you can claim it from SSS and receive the Pension on monthly basis after retirement.
To avail SSS Pension Benefit, the SSS Member must have completed 120 contributions to SSS before the semester of retirement.
In simple words, you can claim SSS Pension on retirement only if you have paid minimum 120 contributions before the semester of your retirement. In case your contributions are less than 120 then you are not qualified to claim SSS Pension Benefit after retirement.
Who is Eligible for SSS Lump Sum?
The SSS Members who are not eligible for SSS Pension Benefit, are eligible to receive SSS Lump Sum on their retirement. In other words, the members who failed to complete 120 contributions before the semester of retirement, are disqualified from SSS Pension Benefit but those SSS Members are eligible for SSS Lump Sum Benefit.
The SSS Lump Sum is a one-time retirement benefit paid by the SSS to the eligible members on their retirement. The lump sum is the amount of total contributions plus interest earned on it. The SSS Members can claim for the Lump Sum after retirement.
Option to Complete 120 Contributions to Get SSS Pension Benefit
The SSS members who could not complete 120 contributions before the semester of retirement, become ineligible for SSS Pension Benefit. The Social Security System offers such members an option to complete the remaining contributions as a voluntary member to reach 120 contributions so that they can become eligible for SSS Pension Benefit.
Let me explain it further with an example.
Example: On your retirement day, your contributions were 110 before the semester of retirement. So, you are not eligible for SSS Pension Benefit but the Social Security System gives you an option to keep paying your contributions as a voluntary member until you reach the mark of 120 contributions.
So, you have already paid 110 contributions, now you need to pay 10 contributions in next 10 months. Once you complete 120 contributions, you can claim SSS Pension Benefit and the SSS Authority will approve your claim. You will start receiving SSS Pension every month after it is approved.
you can use this SSS Pension Calculator to estimate how much monthly pension you will receive when you retire.
SSS Pension Claim Requirements
After retirement from work, the SSS Member can claim SSS Pension from Social Security System Institution. But they must have required documents and information to apply for SSS Pension as retirement benefit claim in the Philippines.
[1] Retirement Claim Application or Retirement Claim Application under Portability Law
[2] Member’s/Claimant’s Photo and Signature Card if member has not been issued UMID card
[3] Preferred disbursement account in any of the following:
Bank account through any PESONet participating banks
- Passbook
- ATM cards with name of claimant and account number
- Validated deposit slip
- Bank Certificate/Statement issued within three (3) months prior to filing of claim
Electronic wallet such as Maya or GCash
Pick-up arrangement with Remittance Transfer Companies (RTCs)/Cash Payout Outlets (CPOs) If claimant cannot open a savings account or apply for a debit/cash card (For member confined in the applicable institution such as penitentiary, correctional institution or rehabilitation center)
A written request for exemption from the Pensioner’s Remittance Program stating reason for the exemption
(1) if member is incapacitated and under guardianship
- In-trust for savings account
(2) if dependent child is under guardianship
- In-trust for savings account
[4] Claimant’s identification (ID) cards/documents
List of Valid ID Cards/Documents
When an SSS Member claims SSS Pension under retirement benefit, they are required to provide two valid identification documents. The Social Security System Authority accepts following documents as valid IDs, here is the list.
- Birth Certificate
- In the absence of the Birth Certificate, any of the following documents:
- Baptismal Certificate
- Driver’s License
- Passport
- PhilSys ID/ePhilID
- Professional Regulation Commission (PRC) card
- SSS Digitized ID
- Seaman’s Book(Seafarer’s Identification and Record Book)
- UMID Card
- In the absence of the above ID card(s) or documents, any two (2) of the following, both with the correct name and at least one(1) with date of birth:
- (GSIS) card/Member’s Record/Certificate of Membership
- ATM Card (with cardholder’s name)
- Alien Certificate of Registration
- Bank Account Passbook
- Baptismal Certificate of child/ren
- Birth Certificate of child/ren
- Cert. of Licensure/Qualification Document from Maritime Industry Auth.
- Certificate of Confirmation issued by National Commission on Indigenous Peoples (formerly Office of Southern Cultural Community and Office of Northern Cultural Community)
- Certificate of Muslim Filipino Tribal Affiliation issued by National Commission on Muslim Filipinos
- Certificate of Non-Availability of Birth Records from the City or Municipal Civil Registrar or Philippine Statistic Authority/National Statistics Office or National Archives, for the alleged correct name/date of birth\
- Company ID card
- Court Order granting petition for change of name or date of birth
- Court Order granting petition for correction of sex, if with erroneous entry of sex in Birth Certificate
- Credit card
- Firearm License card issued by Philippine National Police (PNP)
- Fishworker’s License issued by Bureau of Fisheries and Aquatic Resources (BFAR)
- Health or Medical Card
- Home Development Mutual Fund (Pag-IBIG) Member’s Data Form/Transaction Card
- Homeowners Association ID Card
- ID card issued by LGUs (e.g. Barangay, Municipality or City)
- ID card issued by professional association recognized by PRC
- License ID issued by Philippine Racing Commission (PHILRACOM)
- Life Insurance Policy
- Marriage Contract/Certificate of Marriage
- Member’s copy of Personal Record (SS Form E-1, RS-1, OW-1, NW-1) duly received by the SSS where the correct sex is indicated
- Membership card issued by Private Co.
- National Bureau of Investigation (NBI) Clearance
- Overseas Worker Welfare Administration (OWWA) card
- Philippine Health Insurance Corporation (PHIC) ID card/Member Data Record
- Police Clearance
- Postal ID card
- School ID card
- Seafarer’s Registration Certificate issued by Philippine Overseas Employment Administration (POEA)
- Senior Citizen card
- Student Permit issued by Land Transportation Office (LTO)
- Taxpayer’s Identification Number (TIN) card
- Transcript of Records
- Voter’s Identification card or Affidavit/Certificate of Registration
How to Apply for SSS Pension Claim
There are two ways to apply for SSS Pension Claim, you can either apply online at My.SSS Member Portal or you can visit an SSS Branch to apply offline/in-person.
- Apply Online for SSS Pension Claim at Member.SSS.Gov.PH
- Apply In-person for SSS Pension Claim at SSS Branch
How Long Will I Receive SSS Pension After Retirement?
If you are eligible for SSS Pension Benefit, you will receive the SSS Pension every month as long as you stay alive. There is not fixed number of years, the SSS authority will pay monthly pension starting from your retirement to the last day of your life.
Wrapping Up:
The Social Security System provides financial support with SSS Retirement Benefit including SSS Pension and SSS Lump Sum. The members who have paid at least 120 contributions to the SSS before the semester of retirement, are eligible for SSS Pension.
Above I have explained all key details about SSS Pension, its eligibility criteria, its requirements and other important information. If you still have a query about SSS Pension Benefit Philippines, you can ask it in the comment section.
