Updated: July 31, 2020
Many employees think that the Philippine Social Security System or SSS is just for receiving pension upon retirement.
The truth is, paying your SSS contributions regularly could allow you to apply for and receive the following eight benefits.
1. Sickness Benefits
This is a daily cash allowance paid for the number of days a member is unable to work due to sickness or injury.
You may qualify for this benefit if you’ve been unable to work due to sickness or injury and is either confined in the hospital or at home for at least four days. Other qualifications including having paid at least three months of contributions in the last 12 months, and you’ve used up all the company sick leaves.
You will receive a daily allowance equivalent to 90% of your average daily salary for a maximum of 120 days in one calendar year.
2. Maternity Benefit
This is a daily cash allowance granted to a female member who is unable to work due to childbirth or miscarriage.
You may qualify for this benefit if you’ve paid at least three months of contributions within the 12-month period immediately preceding the semester of childbirth, miscarriage, or emergency termination of pregnancy.
You will receive a daily allowance equivalent to 100% of your average daily salary for up to 105 days, 120 days for solo parents, and 60 days for miscarriage or emergency termination of pregnancy including stillbirth.
3. Disability Benefits
This is a cash benefit granted, either as a monthly pension or a lump sum amount, to a member who becomes permanently disabled, either partially or totally.
You may qualify for this benefit if you’ve paid at least one month of contribution before the semester of disability. If you’ve paid at least 36 monthly contribution, you may qualify for the monthly disability pension, otherwise, you’ll only be granted a lump sum amount.
The amount you’ll receive as monthly Disability Pension is between P1,000 to P2,400, plus other allowances, and depending on the number of years of your service.
4. Retirement Benefit
This is a cash benefit granted, either as a monthly pension or a lump sum amount, to a member who can no longer work due to old age.
You may qualify for this benefit if you’re at least 60 years and have paid at least 120 monthly contributions prior to the semester of retirement. Other terms and conditions may apply, depending on age, the nature of work, or employment status.
You’ll receive a minimum of P1,200 per month if you have at least ten years of service, minimum of P2,400 for at least 20 years, plus 13th-month pension payable every December, and other additional dependent’s pension for members with dependent minor children
5. Death Benefit
This is a cash benefit granted, either as a monthly pension or a lump sum amount, to the beneficiaries of a deceased member.
To qualify for monthly pension, the deceased member should have paid at least 36 monthly contributions before the semester of death. Otherwise, a lump sum amount will be given.
The monthly pension is between P1,000 to P2,400, plus other allowances and cash benefits, depending on the number of years of service of the deceased member.
6. Funeral Benefit
This is a cash benefit given to whoever paid for the funeral expenses of the deceased member. The deceased member should have paid at least one month of contribution to qualify.
The Funeral Benefit is a variable amount ranging from a minimum of P20,000 to a maximum of P40,000, depending on the member’s number of paid contributions and average monthly salary credit.
7. Unemployment Benefit
This is also called unemployment insurance or involuntary separation benefit. It is a cash benefit granted to members who involuntarily separated from employment due to retrenchment, closure of operation, redundancy, etc.
You must not be at retirement age at the time of involuntary operation, plus you’ve paid at least 36 monthly contributions. Other terms and conditions apply, depending on the nature of your involuntary separation.
You will receive a one-time payment equivalent to twice the half of the member’s average monthly salary credit.
8. Employees’ Compensation Program
The EC is a cash benefit for members who become sick or injured due to work-related causes, thus leading to permanent disability or death.
Various terms and conditions apply to qualify for the benefits. However, injuries or death caused by intoxication, negligence, and self-harm, are automatically not eligible for the benefits of the EC Program. Benefits also vary depending on the type of claim by the member.
9. Salary Loan
This is not the same benefit as the others mentioned above. SSS provides its members access to a cash loan, hoping to help them meet their short-term credit needs.
You may qualify if you’ve posted at least six monthly contributions in the last 12 months; and you also don’t have any existing loans with the SSS. The interest rate is currently at 10% per annum.
10. SSS Peso Fund
This is also a different type of benefit. The SSS P.E.S.O. Fund (Personal Equity and Savings Option) is a voluntary provident fund offered exclusively to SSS members in addition to the regular SSS program.
This is available to all members below 55 years old and have at least six months’ worth of contributions within the last 12 months.
This is a savings and investment program. It’s tax-free and it’s actually guaranteed by the Philippine government, which means there’s zero-risk of losing money. Your money will earn higher interest rates than an ordinary bank savings account.
Moreover, you can invest only when you want as there’s no required monthly payments. But you can set up your contributions as an automatic salary deduction. Read more about SSS Peso Fund.
If you’re a member of SSS, whether as an employee, self-employed (SE), voluntary (VM), or as an OFW, always make sure that your personal data in SSS records are always updated.
Disqualifications and delays in availing these SSS benefits for members are often caused by outdated information in your file.
Lastly, if you have questions about these SSS benefits, especially on the computation of the pension or lump sum amounts, then please contact the nearest SSS office or through the following:
SSS Contact Details:
Phone: (+632) 920-6446 to 55