Working In The Philippines
Everything You Need to Know about Your SSS Benefits
August 15, 2016
You may have already seen or read on the news about President Rodrigo Duterte granting the Social Security System (SSS) pension hike. While this news might not be as relevant to us today since we're far from going into retirement, it is, however, crucially important for the retirees. A P2000 hike on their monthly pensions can do a great deal of help with their needs. But why should this be important? Simply because we are paying for it, and wouldn't we want to know where our hard-earned money goes and what benefits we're oblige to have, right? If you're working, take a look at your payslip. Notice those deductions? Yes, that three to four digit on the side that says 'contributions' on them? Well, those are not taxes, those are actually your basic contributions for your benefits. And part of our salary goes to the social security system. The SSS was formed in order to provide or assist private employees, together with their families, protection against old age, sickness, disability, and death. Simply put, the SSS is like a insurance program mandated by our government for all employees in the Philippines. So what are the assistance we can actually get from the SSS? Let's break it down: The sickness benefit is a daily cash allowance paid for the number of days a member is unable to work due to sickness or injury. Conditions: A member is qualified to avail of this benefit if:
- A member is unable to work due to sickness or injury and confined either in a hospital or at home for at least four (4) days;
- He/she has paid at least three (3) months of contributions within the 12-month period immediately before the semester of sickness or injury;
- He/she has used up all current company sick leaves with pay; and
- He/she has notified the employer regarding his sickness or injury by filing the sickness benefit application; if he/she is unemployed, voluntary or self-employed member, the sickness notification should be submitted directly to SSS.
- She has paid at least three monthly contributions within the 12-month period immediately preceding the semester of her childbirth or miscarriage.
- She has given the required notification of her pregnancy to SSS through her employer if employed; or submitted the maternity notification directly to the SSS if separated from employment, a voluntary or self-employed member.
- Member is 60 years old, separated from employment or ceased to be self-employed, and has paid at least 120 monthly contributions prior to the semester of retirement.
- Member is 65 years old, whether employed or not, and has paid at least 120 monthly contributions prior to the semester of retirement.
- For Pension - the deceased member must have paid at least 36 monthly contributions before the semester of death.
- For Lump-sum Amount - granted to the primary beneficiaries of a deceased member who had paid less than 36 monthly contributions before the semester of death. Also, in the absence of primary beneficiaries, the secondary beneficiaries are granted the death benefit in lump-sum amount.