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Showing posts with label What are SSS benefits. Show all posts

Saturday, April 25, 2020

Alamin Kung Magkano ang Matatanggap Mong SSS Pensyon Base sa Iyong Kontribusyon

Bilang isang miyembro ng SSS, may ideya ka ba kung magkano ang matatanggap mong SSS pension pagkatapos mong magbayad ng iyong kontribusyon?
Bibigyan namin kayo ng idea kung paano ito kinocompute.

Monday, May 29, 2017

How To Compute SSS Sickness Benefit

SSS members who become sick can claim for sickness benefits. However, the sickness benefit may vary depending on the monthly contribution of the member.

For your guide on SSS sickness benefit claim, you may refer to the information and example below.

Sickness Benefit Computation

The amount of a member's sickness benefit per day is equivalent to ninety percent (90%) of the member's average daily salary credit.

Benefit Computation:

1. Exclude the semester of sickness.

-A quarter refers to three consecutive months ending March, June, September or December.

-A semester refers to two consecutive quarters ending in the quarter of sickness.

Example: An SSS member got sick for 20 days on the month of September 2012.

The quarter of sickness will include the months of July, August and September.

And the semester of sickness will be from April 2012 to September 2012. The semester of sickness will be excluded in the computation.

2. Count 12 months backwards starting from the month immediately before the semester of sickness.

3. Identify the six (6) highest MSCs within the 12-month period. Monthly salary credit (MSC) means the compensation base for contributions and benefits related to the total earnings for the month.

The maximum covered earnings or compensation is P16,000, effective January 1, 2014. Please refer to the following table:

Monthly salary credit salary credit means the compensation base for contributions and benefits related to the total earnings for the month.

4. Add the six (6) highest MSCs to get the total MSC.

5. Divide the total MSC by 180 days to get the ADSC.

6. Multiply the ADSC by ninety percent (90%) to get the daily sickness allowance.

7. Multiply the daily sickness allowance by the approved number of days to arrive at the amount of benefit due.

With our example the daily sickness allowance is P 450.
To get the amount of sickness benefit that Juan will receive we arrive on the following computation:
P 450 x 20 days = P 9,000.00

Juan will be receiving P 9,000 worth of sickness benefit.

How many days in a year can a member avail of the sickness benefit?

A member can be granted sickness benefit for a maximum of 120 days in one (1) calendar year. Any unused portion of the allowable 120 days sickness benefit cannot be carried forward nor added to the total number of allowed compensable days for the following year. The sickness benefit shall be paid for not more than 240 days on account of the same illness. If the sickness or injury still persists after 240 days, the claim will be considered a disability claim.

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Thursday, August 18, 2016

DO YOU KNOW YOUR BENEFITS AS SSS MEMBER? CHECK OUT THE VIDEOS HERE!

Are you a member of SSS? Do you paid your contribution regularly? Well, you are entitled to a package of benefits under SSS Compensation Program in the event of death, disability, sickness, maternity and old age. Once you become a covered SSS member, you become a member for life. So be sure you or your employer is paying your SSS contribution regularly to avail the full coverage of benefits in times of need. According to Social Security System (SSS) website (www.sss.gov.ph) here are the benefits you may get from the Social Secuty Program. 1. Sickness Benefit 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. 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. advertisement 2. Maternity Benefit The maternity benefit is a daily cash allowance granted to a female member who was unable to work due to childbirth or miscarriage. The maternity benefit is offered only to female SSS members. A member is qualified to avail of this benefit if: 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. The maternity benefit shall be paid only for the first four (4) deliveries or miscarriages starting May 24, 1997 when the Social Security Act of 1997 (RA 8282) took effect. advertisement 3. Disability Benefit Adopting the World Health Organization's (WHO) definition, disability is any "restriction or lack (resulting from impairment) of ability to perform an activity in the manner or within the range considered normal for a human being". The redesigned SSS Disability Benefit program adopts the International Classification of Diseases and Related Health Problems codes and takes into account the medical management of illnesses and injuries and their corresponding impairment ratings. A member who suffers partial or total disability with at least one monthly contribution paid to the SSS prior to the semester of contingency is qualified. Partial Disability A complete and permanent loss or use of any of the following body parts, but which does not totally prevent a member from engaging in any gainful occupation. one thumb one index finger one middle finger one ring finger one little finger hearing of one ear hearing of both ears sight of one eye one big toe one hand one arm one foot one leg one ear both ears Permanent Total Disability complete loss of sight of both eyes; loss of two limbs at or above the ankle or wrists; permanent complete paralysis of two limbs; brain injury resulting to incurable imbecility or insanity; and such cases as determined and approved by the SSS. 4. Retirement Benefit The retirement benefit is a cash benefit either in monthly pension or lump sum paid to a member who can no longer work due to old age. A member is qualified to avail of this benefit if: 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. 5. Death Benefit It is a cash benefit either in monthly pension or lump sum paid to the beneficiaries of a deceased member. The primary beneficiaries are the legitimate dependent spouse until the person remarries, and the member's dependent legitimate, legitimated, or legally adopted, and illegitimate children who are not yet 21 years old. In the absence of primary beneficiaries, the dependent parents shall be the secondary beneficiaries. In their absence, any other person designated by the member as beneficiary in the member's record. There are two types of death benefit paid to beneficiaries of a member: Pension and Lump sum Amount. To qualify for either, the member must have met the following: For Pension - the deceased member must have paid at least 36 monthly contributions before the semester of death. For Lumpsum 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 beneficaries are granted the death benefit in lumpsum amount.

Are you a member of SSS? Do you pay your contribution regularly? Well, you are entitled to a package of benefits under the SSS Compensation Program in the event of death, disability, sickness, maternity and old age.

Once you become a covered SSS member, you become a member for life. So be sure you or your employer is paying your SSS contribution regularly to avail the full coverage of benefits in times of need.

According to the Social Security System (SSS) website (www.sss.gov.ph) here are the benefits you may get from the Social Security Program.

1. Sickness Benefit

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.

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 an unemployed, voluntary or self-employed member, the sickness notification should be submitted directly to SSS.
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2. Maternity Benefit

The maternity benefit is a daily cash allowance granted to a female member who was unable to work due to childbirth or miscarriage.

The maternity benefit is offered only to female SSS members. A member is qualified to avail of this benefit if:

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.

The maternity benefit shall be paid only for the first four (4) deliveries or miscarriages starting May 24, 1997 when the Social Security Act of 1997 (RA 8282) took effect.

3. Disability Benefit

Adopting the World Health Organization's (WHO) definition, disability is any "restriction or lack (resulting from impairment) of ability to perform an activity in the manner or within the range considered normal for a human being".

The redesigned SSS Disability Benefit program adopts the International Classification of Diseases and Related Health Problems codes and takes into account the medical management of illnesses and injuries and their corresponding impairment ratings.

A member who suffers partial or total disability with at least one monthly contribution paid to the SSS prior to the semester of contingency is qualified.

Partial Disability

A complete and permanent loss or use of any of the following body parts, but which does not totally prevent a member from engaging in any gainful occupation.

one thumb

one index finger

one middle finger

one ring finger

one little finger

hearing of one ear

hearing of both ears

sight of one eye

one big toe

one hand

one arm

one foot

one leg

one ear

both ears

Permanent Total Disability

complete loss of sight of both eyes;

loss of two limbs at or above the ankle or wrists;

permanent complete paralysis of two limbs;

brain injury resulting to incurable imbecility or insanity; and
such cases as determined and approved by the SSS.

4. Retirement Benefit

WHAT ARE YOUR SSS RETIREMENT AND PENSION BENEFIT AND HOW TO CLAIM

The retirement benefit is a cash benefit either in monthly pension or lump sum paid to a member who can no longer work due to old age.

A member is qualified to avail of this benefit if:

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.

5. Death Benefit

It is a cash benefit either in monthly pension or lump sum paid to the beneficiaries of a deceased member.

The primary beneficiaries are the legitimate dependent spouse until the person remarries, and the member's dependent legitimate, legitimated, or legally adopted, and illegitimate children who are not yet 21 years old. In the absence of primary beneficiaries, the dependent parents shall be the secondary beneficiaries. In their absence, any other person designated by the member as beneficiary in the member's record.

There are two types of death benefit paid to beneficiaries of a member: Pension and Lump sum Amount.

To qualify for either, the member must have met the following:

For Pension - the deceased member must have paid at least 36 monthly contributions before the semester of death.

For Lumpsum 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 beneficaries are granted the death benefit in lumpsum amount.

(Source:SSS)

SEE ALSO:

HOW TO RETRIEVE LOST OR FORGOTTEN SSS NUMBER

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