The 13th Month Pay is a bonus for all private sector employees working in the Philippines. The Presidential Decree No. 851 of Labour Law makes it a legal requirement for the employer to pay 13th Month Pay to all their employees on an annual basis. The computation of 13th Month Pay is a bit complex….
All private sector employees are required to register with the Social Security System (SSS) to secure financial stability after retirement and in the event of other contingencies. The SSS issues a UMID Card to each member, and the CRN Number is found on the UMID Card. An employee registered with the Social Security System (SSS)…
The Philippines Social Security System launched Workers’ Investment & Savings Program (WISP) in late 2020. The WISP SSS came into effect from January 2021. Every SSS member who meets WISP requirements is automatically enrolled in the WISP SSS Program. The purpose of the WISP Program is to increase the savings of SSS Members and provide…
The SSS Retirement Benefit applies to all SSS Members, including Employed Members (EE), Self-Employed Members (SE), Voluntary Members (VM), Overseas Filipino Workers (OFW) and Non-Working Spouse (NWS). To become eligible for SSS Pension, the SSS Members must meet the age criteria and eligibility requirements. If you are a voluntary member, you need to meet the…
The Social Security System is a government-operated organization that provides financial support for retirement, death, and permanent disability events. Permanent disability resulting from an accident is covered under contingency. The concerned employee can apply for an SSS Disability Claim to the Social Security System with the required Application Form and documents. Whether the disability is…
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…
The Social Security System (SSS) is a state-operated insurance institution run by the Philippine Government. It is built to provide financial protection to private-sector workers, self-employed individuals, voluntary members, Overseas Filipino workers (OFWs) and other SSS members. Each SSS Member has a unique Social Security Number (also known as an SSS Number). This SSS Number…
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