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Monday, June 04, 2018

What Is SSS PESO Fund And How Can You Invest In It

Every worker, especially overseas Filipino workers (OFWs), will eventually get old and stay home for good and not everyone has enough savings to sustain their needs. It is good if you have a small business to meet your everyday expenses, pay your monthly bills, settle your mortgages and have a little extra for leisure and relaxation.
Planning for your retirement may harder than it looks but you really need to start as early as now.
The Social Security System (SSS) has provided an investment option for its members through SSS P.E.S.O. Fund where you can benefit a lot.
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Every worker especially overseas Filipino workers (OFW) will eventually get old and stay home for good for sure and not everyone has enough savings to sustain their needs. It is better that you have a small business to meet your everyday expenses, pay your monthly bills, settle your mortgages and have a little extra for leisure and relaxation. Planning for your retirement may not be easier than it looks. You need to really do something about it in as early as now. The Social Security System (SSS) has provided an investment option for its members through SSS P.E.S.O. Fund where you can benefit a lot. Advertisement Sponsored Links What is the SSS P.E.S.O. Fund? 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. Through this program, members who have the capacity to contribute more are given the opportunity to save more in order to receive additional benefits in the future. How can an SSS member join the SSS P.E.S.O. Fund? Interested and qualified SSS members can enroll in the program over-the-counter at any SSS branch. Enrollment via My.SSS will be announced later. Why is the SSS P.E.S.O. Fund a good investment? The program provides an option for SSS members to save their excess earnings and build a secure future through: • Tax-free earnings and benefits; • Contributions placed in sovereign guaranteed investments; and • Guaranteed earnings. How is the SSS P.E.S.O. Fund allocated? The contributions and earnings of a member shall be allocated to three (3) types of accounts: When can a member contribute to the SSS P.E.S.O. Fund? Contributions to the P.E.S.O. Fund may be made anytime, whenever the member has excess funds. SE, VM and OFW members, must have regular SSS contributions based on the maximum Monthly Salary Credit (MSC) on the month of payment before they can contribute to the P.E.S.O. Fund. Each member shall be allowed a maximum contribution of P100,000 per annum and a minimum of P1,000 per contribution. Who can join in the SSS P.E.S.O. Fund? The program is open to all employees, self-employed (SE), voluntary (VM) and OFW members who have met the following qualifications: a. Below 55 years of age; b. Have paid contributions in the regular SSS program for at least six (6) consecutive months within the 12-month period immediately prior to the month of enrollment; c. SE, VM and OFW members should be paying the maximum amount of contributions under the regular SSS program; d. Have not filed any final claim under the regular SSS program. When does membership in the SSS P.E.S.O. Fund start? Membership begins with the payment of the first contribution to the P.E.S.O. Fund. Are withdrawals from the SSS P.E.S.O. Fund allowed? No withdrawals are allowed from the retirement/total disability account. Withdrawals from the fund shall be allowed only from the Medical (25%) and General Purpose (10%) Accounts. Withdrawals within the 5-year retention period shall be charged with corresponding penalty and service fees. When can a member receive benefits from the SSS P.E.S.O Fund? • The member will receive benefits upon filing a retirement, total disability or death claim under the regular SSS program. • Retirement or total disability benefits, which consist of the member’s contributions and earnings from the SSS P.E.S.O. Fund, may opt to receive this in monthly pension, lump sum or a combination of both. • Death benefits shall be paid in lump sum to the member’s beneficiaries. SSS P.E.S.O. Fund member who contributes P100,000 per year starting at age 40 will have contributed a total of P2.0M by the time he reaches age 60. Assuming that the fund growth rates are at 3.75%, 1.85% and 1.85% per annum (may be higher or lower) for Retirement Account, Medical Account, and General Purpose Account, respectively, the member would earn P500,000 in 20 years, giving him a total of P2.5M upon retirement. However, if the member placed his P2.0M in a bank with an average savings interest rate of 0.45% per annum (net of tax), his deposit would earn P100,000 in 20 years, giving him a total of P2.1M upon retirement. For more information email: member_relations@sss.gov.ph or call 920-6446 to 55 or visit: www.sss.gov.ph READ MORE: Do You Want College Scholarship? Check This Out Now! No HSWs Has Been Sent To Kuwait Yet After Lifting Of Ban In Demand College Courses Which Only A Few Take Up OFWs Must Save, Get Insurance And Have An Investment OFW Help Desks From TESDA Now Available at International Airports Signs That You And Your Partner Have An Unhealthy

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What is the SSS P.E.S.O. Fund?

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. Through this program, members who have the capacity to contribute more are given the opportunity to save more in order to receive additional benefits in the future.

How can an SSS member join the SSS P.E.S.O. Fund? 

Interested and qualified SSS members can enroll in the program over-the-counter at any SSS branch. Enrollment via My.SSS will be announced later.

Why is the SSS P.E.S.O. Fund a good investment? 

The program provides an option for SSS members to save their excess earnings and build a secure future through:
• Tax-free earnings and benefits; 
• Contributions placed in sovereign guaranteed investments; and 
• Guaranteed earnings. 


How is the SSS P.E.S.O. Fund allocated? 
Every worker especially overseas Filipino workers (OFW) will eventually get old and stay home for good for sure and not everyone has enough savings to sustain their needs. It is better that you have a small business to meet your everyday expenses, pay your monthly bills, settle your mortgages and have a little extra for leisure and relaxation. Planning for your retirement may not be easier than it looks. You need to really do something about it in as early as now. The Social Security System (SSS) has provided an investment option for its members through SSS P.E.S.O. Fund where you can benefit a lot. Advertisement Sponsored Links What is the SSS P.E.S.O. Fund? 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. Through this program, members who have the capacity to contribute more are given the opportunity to save more in order to receive additional benefits in the future. How can an SSS member join the SSS P.E.S.O. Fund? Interested and qualified SSS members can enroll in the program over-the-counter at any SSS branch. Enrollment via My.SSS will be announced later. Why is the SSS P.E.S.O. Fund a good investment? The program provides an option for SSS members to save their excess earnings and build a secure future through: • Tax-free earnings and benefits; • Contributions placed in sovereign guaranteed investments; and • Guaranteed earnings. How is the SSS P.E.S.O. Fund allocated? The contributions and earnings of a member shall be allocated to three (3) types of accounts: When can a member contribute to the SSS P.E.S.O. Fund? Contributions to the P.E.S.O. Fund may be made anytime, whenever the member has excess funds. SE, VM and OFW members, must have regular SSS contributions based on the maximum Monthly Salary Credit (MSC) on the month of payment before they can contribute to the P.E.S.O. Fund. Each member shall be allowed a maximum contribution of P100,000 per annum and a minimum of P1,000 per contribution. Who can join in the SSS P.E.S.O. Fund? The program is open to all employees, self-employed (SE), voluntary (VM) and OFW members who have met the following qualifications: a. Below 55 years of age; b. Have paid contributions in the regular SSS program for at least six (6) consecutive months within the 12-month period immediately prior to the month of enrollment; c. SE, VM and OFW members should be paying the maximum amount of contributions under the regular SSS program; d. Have not filed any final claim under the regular SSS program. When does membership in the SSS P.E.S.O. Fund start? Membership begins with the payment of the first contribution to the P.E.S.O. Fund. Are withdrawals from the SSS P.E.S.O. Fund allowed? No withdrawals are allowed from the retirement/total disability account. Withdrawals from the fund shall be allowed only from the Medical (25%) and General Purpose (10%) Accounts. Withdrawals within the 5-year retention period shall be charged with corresponding penalty and service fees. When can a member receive benefits from the SSS P.E.S.O Fund? • The member will receive benefits upon filing a retirement, total disability or death claim under the regular SSS program. • Retirement or total disability benefits, which consist of the member’s contributions and earnings from the SSS P.E.S.O. Fund, may opt to receive this in monthly pension, lump sum or a combination of both. • Death benefits shall be paid in lump sum to the member’s beneficiaries. SSS P.E.S.O. Fund member who contributes P100,000 per year starting at age 40 will have contributed a total of P2.0M by the time he reaches age 60. Assuming that the fund growth rates are at 3.75%, 1.85% and 1.85% per annum (may be higher or lower) for Retirement Account, Medical Account, and General Purpose Account, respectively, the member would earn P500,000 in 20 years, giving him a total of P2.5M upon retirement. However, if the member placed his P2.0M in a bank with an average savings interest rate of 0.45% per annum (net of tax), his deposit would earn P100,000 in 20 years, giving him a total of P2.1M upon retirement. For more information email: member_relations@sss.gov.ph or call 920-6446 to 55 or visit: www.sss.gov.ph READ MORE: Do You Want College Scholarship? Check This Out Now! No HSWs Has Been Sent To Kuwait Yet After Lifting Of Ban In Demand College Courses Which Only A Few Take Up OFWs Must Save, Get Insurance And Have An Investment OFW Help Desks From TESDA Now Available at International Airports Signs That You And Your Partner Have An Unhealthy Communication
The contributions and earnings of a member shall be allocated to three (3) types of accounts:

When can a member contribute to the SSS P.E.S.O. Fund?

 Contributions to the P.E.S.O. Fund may be made anytime, whenever the member has excess funds. SE, VM and OFW members, must have regular SSS contributions based on the maximum Monthly Salary Credit (MSC) on the month of payment before they can contribute to the P.E.S.O. Fund. Each member shall be allowed a maximum contribution of P100,000 per annum and a minimum of P1,000 per contribution.

Who can join in the SSS P.E.S.O. Fund? 

The program is open to all employees, self-employed (SE), voluntary (VM) and OFW members who have met the following qualifications:
a. Below 55 years of age; 
b. Have paid contributions in the regular SSS program for at least six (6) consecutive months within the 12-month period immediately prior to the month of enrollment; 
c. SE, VM and OFW members should be paying the maximum amount of contributions under the regular SSS program; 
d. Have not filed any final claim under the regular SSS program.

When does membership in the SSS P.E.S.O. Fund start? 
Membership begins with the payment of the first contribution to the P.E.S.O. Fund.


Are withdrawals from the SSS P.E.S.O. Fund allowed? 

No withdrawals are allowed from the retirement/total disability account. Withdrawals from the fund shall be allowed only from the Medical (25%) and General Purpose (10%) Accounts. Withdrawals within the 5-year retention period shall be charged with corresponding penalty and service fees. 

When can a member receive benefits from the SSS P.E.S.O Fund? 

• The member will receive benefits upon filing a retirement, total disability or death claim under the regular SSS program. 

• Retirement or total disability benefits, which consist of the member’s contributions and earnings from the SSS P.E.S.O. Fund, may opt to receive this in monthly pension, lump sum or a combination of both. 

• Death benefits shall be paid in lump sum to the member’s beneficiaries.

SSS P.E.S.O. Fund member who contributes P100,000 per year starting at age 40 will have contributed a total of P2.0M by the time he reaches age 60. Assuming that the fund growth rates are at 3.75%, 1.85% and 1.85% per annum (may be higher or lower) for Retirement Account, Medical Account, and General Purpose Account, respectively, the member would earn P500,000 in 20 years, giving him a total of P2.5M upon retirement. 

However, if the member placed his P2.0M in a bank with an average savings interest rate of 0.45% per annum (net of tax), his deposit would earn P100,000 in 20 years, giving him a total of P2.1M upon retirement.For more information email: member_relations@sss.gov.ph or call 920-6446 to 55 or visit: www.sss.gov.ph
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