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Showing posts with label sss program. Show all posts
Showing posts with label sss program. Show all posts

Saturday, June 09, 2018

Is it OK to Stop my SSS Contribution If I Completed the 120 Months?



Often times this question comes from voluntary members of Social Security System (SSS). Those who are self-employed and some Overseas Filipino Workers (OFWs) who paid their own membership without a share from their companies. According to SSS, when a member completes a 120-month contribution, that is equivalent to 10 years, the member is entitled to retirement pension at the age of 60. Even members who did not complete or contributed less than 120 months are also entitled to lump sum pension.
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Often times this question comes from voluntary members of Social Security System (SSS). Those who are self-employed and some Overseas Filipino Workers (OFWs) who paid their own membership without a share from their companies. According to SSS, when a member completes a 120-month contribution, that is equivalent to 10 years, the member is entitled to retirement pension at the age of 60. Even members who did not complete or contributed less than 120 months are also entitled to lump sum pension.  But the question is, is 120 months contribution good enough? The answer is no and this is not advisable. A member who contributed at least 120 months is qualified for a pension at 60 years old but ceasing your SSS contribution means the following;  1. You cannot avail of sickness and maternity benefit. A member should have at least three contributions in a year before the semester of sickness, maternity or miscarriage.  2. You cannot avail of disability benefit because a basic requirement to this is at least one contribution in six months before the disability.  3. You cannot avail of a loan. SSS members should have at least six contributions in a year before it can file for a loan.  One of the most beneficial benefits of continuing your SSS contribution is, you will be getting a bigger amount of your retirement pension. Always remember that the computation of your pension will include the number of years your SSS contributions. SSS is a good preparation for your future. Paying much higher contribution means an increase in your pension someday. You can also apply to the SSS PESO Fund to increase your allowance or SSS Flexi Fund if you are OFW.
But the question is, is 120 months contribution good enough? The answer is no and this is not advisable. A member who contributed at least 120 months is qualified for a pension at 60 years old but ceasing your SSS contribution means the following;

Read: SSS Retirement: Am I Qualified For Pension If There's A Gap On My Contributions?
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1. You cannot avail of sickness and maternity benefit. A member should have at least three contributions in a year before the semester of sickness, maternity or miscarriage.



2. You cannot avail of disability benefit because a basic requirement to this is at least one contribution in six months before the disability.


3. You cannot avail of a loan. SSS members should have at least six contributions in a year before it can file for a loan.

Often times this question comes from voluntary members of Social Security System (SSS). Those who are self-employed and some Overseas Filipino Workers (OFWs) who paid their own membership without a share from their companies. According to SSS, when a member completes a 120-month contribution, that is equivalent to 10 years, the member is entitled to retirement pension at the age of 60. Even members who did not complete or contributed less than 120 months are also entitled to lump sum pension.  But the question is, is 120 months contribution good enough? The answer is no and this is not advisable. A member who contributed at least 120 months is qualified for a pension at 60 years old but ceasing your SSS contribution means the following;  1. You cannot avail of sickness and maternity benefit. A member should have at least three contributions in a year before the semester of sickness, maternity or miscarriage.  2. You cannot avail of disability benefit because a basic requirement to this is at least one contribution in six months before the disability.  3. You cannot avail of a loan. SSS members should have at least six contributions in a year before it can file for a loan.  One of the most beneficial benefits of continuing your SSS contribution is, you will be getting a bigger amount of your retirement pension. Always remember that the computation of your pension will include the number of years your SSS contributions. SSS is a good preparation for your future. Paying much higher contribution means an increase in your pension someday. You can also apply to the SSS PESO Fund to increase your allowance or SSS Flexi Fund if you are OFW.
Often times this question comes from voluntary members of Social Security System (SSS). Those who are self-employed and some Overseas Filipino Workers (OFWs) who paid their own membership without a share from their companies. According to SSS, when a member completes a 120-month contribution, that is equivalent to 10 years, the member is entitled to retirement pension at the age of 60. Even members who did not complete or contributed less than 120 months are also entitled to lump sum pension.  But the question is, is 120 months contribution good enough? The answer is no and this is not advisable. A member who contributed at least 120 months is qualified for a pension at 60 years old but ceasing your SSS contribution means the following;  1. You cannot avail of sickness and maternity benefit. A member should have at least three contributions in a year before the semester of sickness, maternity or miscarriage.  2. You cannot avail of disability benefit because a basic requirement to this is at least one contribution in six months before the disability.  3. You cannot avail of a loan. SSS members should have at least six contributions in a year before it can file for a loan.  One of the most beneficial benefits of continuing your SSS contribution is, you will be getting a bigger amount of your retirement pension. Always remember that the computation of your pension will include the number of years your SSS contributions. SSS is a good preparation for your future. Paying much higher contribution means an increase in your pension someday. You can also apply to the SSS PESO Fund to increase your allowance or SSS Flexi Fund if you are OFW.

One of the most beneficial benefits of continuing your SSS contribution is, you will be getting a bigger amount of your retirement pension. Always remember that the computation of your pension will include the number of years your SSS contributions.

Read: Important Points Voluntary SSS Members Should Know



SSS is a good preparation for your future. Paying much higher contribution means an increase in your pension someday.


You can also apply to the SSS PESO Fund to increase your allowance or SSS Flexi Fund if you are OFW.

This article is filed under: SSS Email, SSS Main Office, SSS Check Status, SSS Program, SSS Membership



SEE MORE:




 Just because we are earning big, we will now stop contributing to our Social Security System (SSS) membership. As Overseas Filipino Workers (OFWs) it is important that we should continue to pay our SSS contribution regardless of how big we are earning now. SSS brings benefits to us from loan to sickness benefits to death or even funeral.


Located in the Philippine embassies or consulates, Social Security System (SSS) offices abroad accepts applications for membership, benefits, and loans and performs data captures for those who apply for unified multi-purpose ID. The SSS continuously expanding its reach in overseas to serve a large number of Filipinos working or living abroad.
As Overseas Filipino Workers (OFW), it is important that we continue to pay our membership contribution in Social Security System (SSS) wherever we are in the world. We all know that working abroad is not forever, that is why we should secure our retirement pension. As a member of SSS, we are entitled to its benefits such loan, sickness, maternity, disability, retirement, even death or funeral.


©2018 THOUGHTSKOTO

Wednesday, May 16, 2018

SSS Admits, Pension Funds Will Be Good Only For 7 Years



If the second installment of another P1000 benefit will be released next year without a funding mechanism, government-owned pension fund Social Security System (SSS) will run out of funds in 7 years.

"Should the second tranche of additional pension be implemented in 2019 without any funding mechanism, the SSS will have a fund life of seven years or until 2026," SSS said in a statement.

According to SSS President and CEO Emmanuel Dooc, the SSS fund life significantly dropped from 2042 to 2032 last year, after implementing the first tranche of the additional benefit last year,
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If the second installment of another P1000 benefit will be released next year without a funding mechanism, government-owned pension fund Social Security System (SSS) will run out of funds in 7 years.    "Should the second tranche of additional pension be implemented in 2019 without any funding mechanism, the SSS will have a fund life of seven years or until 2026," SSS said in a statement.    According to SSS President and CEO Emmanuel Dooc, the SSS fund life significantly dropped from 2042 to 2032 last year, after implementing the first tranche of the additional benefit last year,  Advertisement         Sponsored Links       SSS is still waiting for President Rodrigo Duterte to issue an executive order to release the additional benefit he promised to pensioners in 2016. The second tranche can also be released if the proposed amendment of Republic Act 8282, or Social Security Law of 1997 gets enacted.  "Our goal here in SSS is to see to it that we are able to release the second tranche [of pension] still within the term of President Duterte, which can be approved in 2022 during his last year in office," Dooc said.  He also said that to strongly support the implementation of the second tranche of pension increase, there should be approval of either an increase in contribution rate or adjustment in the minimum and maximum monthly salary credits in SSS.  "This is important to support the viability of the pension fund and to assure our current members that the SSS will still be there in their times of contingencies para mapanatag ang kalooban ng mga kasalukuyang miyembro [to appease our current members]," he added.  As of December 2017, SSS has more than 960,000 registered employers and a combined 8.63 million registered voluntary and self-employed members. Some 218,000 or 10 percent of SSS pensioners claimed the additional benefit last year.      READ MORE: It's More Deadly In The Philippines? Tourism Ad In New York, Vandalized    Earn While Helping Your Friends Get Their Loan      List of Philippine Embassies And Consulates Around The World    Deployment Ban In Kuwait To Be Lifted Only If OFWs Are 100% Protected —Cayetano    Why OFWs From Kuwait Afraid Of Coming Home?   How to Avail Auto, Salary And Home Loan From Union Bank

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SSS is still waiting for President Rodrigo Duterte to issue an executive order to release the additional benefit he promised to pensioners in 2016. The second tranche can also be released if the proposed amendment of Republic Act 8282, or Social Security Law of 1997 gets enacted.

"Our goal here in SSS is to see to it that we are able to release the second tranche [of pension] still within the term of President Duterte, which can be approved in 2022 during his last year in office," Dooc said.

He also said that to strongly support the implementation of the second tranche of pension increase, there should be approval of either an increase in contribution rate or adjustment in the minimum and maximum monthly salary credits in SSS.
If the second installment of another P1000 benefit will be released next year without a funding mechanism, government-owned pension fund Social Security System (SSS) will run out of funds in 7 years.    "Should the second tranche of additional pension be implemented in 2019 without any funding mechanism, the SSS will have a fund life of seven years or until 2026," SSS said in a statement.    According to SSS President and CEO Emmanuel Dooc, the SSS fund life significantly dropped from 2042 to 2032 last year, after implementing the first tranche of the additional benefit last year,  Advertisement         Sponsored Links       SSS is still waiting for President Rodrigo Duterte to issue an executive order to release the additional benefit he promised to pensioners in 2016. The second tranche can also be released if the proposed amendment of Republic Act 8282, or Social Security Law of 1997 gets enacted.  "Our goal here in SSS is to see to it that we are able to release the second tranche [of pension] still within the term of President Duterte, which can be approved in 2022 during his last year in office," Dooc said.  He also said that to strongly support the implementation of the second tranche of pension increase, there should be approval of either an increase in contribution rate or adjustment in the minimum and maximum monthly salary credits in SSS.  "This is important to support the viability of the pension fund and to assure our current members that the SSS will still be there in their times of contingencies para mapanatag ang kalooban ng mga kasalukuyang miyembro [to appease our current members]," he added.  As of December 2017, SSS has more than 960,000 registered employers and a combined 8.63 million registered voluntary and self-employed members. Some 218,000 or 10 percent of SSS pensioners claimed the additional benefit last year.      READ MORE: It's More Deadly In The Philippines? Tourism Ad In New York, Vandalized    Earn While Helping Your Friends Get Their Loan      List of Philippine Embassies And Consulates Around The World    Deployment Ban In Kuwait To Be Lifted Only If OFWs Are 100% Protected —Cayetano    Why OFWs From Kuwait Afraid Of Coming Home?   How to Avail Auto, Salary And Home Loan From Union Bank

Besides hiking the contribution rate, Dooc also proposed raising the salary ceiling for contributions from P16,000 to P20,000 and the minimum salary level from P1,000 to P4,000.
He said that the pension fund has also been working to raise its collection rate over the past year.
SSS collections grew 10.6 percent to P159 billion by the end of 2017, Dooc said.
"It's a substantial increase, for January to April 2018, we have collected P62.5 billion," he added.
But he said the pension fund needed an Executive Order or a legislative amendment to the SSS charter to hike the contribution rate and offset the promised P1,000 increase in pension benefits.

As of December 2017, SSS has over 960,000 registered employers and a combined 8.63 million registered voluntary and self-employed members. 10% of SSS pensioners or around 218,000  people claimed the additional benefit last year.

If the second installment of another P1000 benefit will be released next year without a funding mechanism, government-owned pension fund Social Security System (SSS) will run out of funds in 7 years.    "Should the second tranche of additional pension be implemented in 2019 without any funding mechanism, the SSS will have a fund life of seven years or until 2026," SSS said in a statement.    According to SSS President and CEO Emmanuel Dooc, the SSS fund life significantly dropped from 2042 to 2032 last year, after implementing the first tranche of the additional benefit last year,  Advertisement         Sponsored Links       SSS is still waiting for President Rodrigo Duterte to issue an executive order to release the additional benefit he promised to pensioners in 2016. The second tranche can also be released if the proposed amendment of Republic Act 8282, or Social Security Law of 1997 gets enacted.  "Our goal here in SSS is to see to it that we are able to release the second tranche [of pension] still within the term of President Duterte, which can be approved in 2022 during his last year in office," Dooc said.  He also said that to strongly support the implementation of the second tranche of pension increase, there should be approval of either an increase in contribution rate or adjustment in the minimum and maximum monthly salary credits in SSS.  "This is important to support the viability of the pension fund and to assure our current members that the SSS will still be there in their times of contingencies para mapanatag ang kalooban ng mga kasalukuyang miyembro [to appease our current members]," he added.  As of December 2017, SSS has more than 960,000 registered employers and a combined 8.63 million registered voluntary and self-employed members. Some 218,000 or 10 percent of SSS pensioners claimed the additional benefit last year.      READ MORE: It's More Deadly In The Philippines? Tourism Ad In New York, Vandalized    Earn While Helping Your Friends Get Their Loan      List of Philippine Embassies And Consulates Around The World    Deployment Ban In Kuwait To Be Lifted Only If OFWs Are 100% Protected —Cayetano    Why OFWs From Kuwait Afraid Of Coming Home?   How to Avail Auto, Salary And Home Loan From Union Bank
This article is filed under: SSS Email, SSS Main Office, SSS Check Status, SSS Program, SSS Membership

READ MORE:

Online Application For SSS Retirement Benefits For OFWs, Voluntary Members

©2018 THOUGHTSKOTO

Friday, May 11, 2018

Important Points Voluntary SSS Members Should Know

It is important that we secure our future not only for our own sake but for those who depend on us. If we cannot afford to buy private insurance policies, the government can help us to have it through the Social Security System (SSS). Local employees, businessmen, entrepreneurs, private individuals, and even overseas Filipino workers (OFW) can be a voluntary member. And as a member, it is important to know how being an SSS member could be advantageous to us. We have to know what benefits can we get and how can we avail it.
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It is important that we secure our future not only for our own sake but for those who depend on us. If we cannot afford to buy private insurance policies, the government can help us to have it through the Social Security System (SSS). Local employees, businessmen, entrepreneurs, private individuals, and even overseas Filipino workers (OFW) can be a voluntary member. And as a member, it is important to know how being an SSS member could be advantageous to us. We have to know what benefits can we get and how can we avail it.  Advertisement         Sponsored Links      Here are more points that you should know if you are a voluntary member of SSS:   Members of SSS whom their payment of contributions has stopped due to lack of work or termination, they can still continue with their contributions as voluntary members.  There is no need to register anew or get a new SS number. You can use your existing SS number and pay for the current quarter. No need to pay for the previous years.    Remember the deadline for payment for your SSS contributions as a voluntary member. To know your deadline, you should refer to the last digit of your SS number.  -—If the last digit of your SS number is 1or 2, your deadline is on every 10th of the month.  —3 or 4, every 15th of the month  —5 or 6, every 20th of the month  —7 or 8, every 25th of the month  —9 or 0, every end of the month    You can access your SSS record online. You can go to their website and you may need to provide the receipt from your last payment. If you still don't have an SSS online account, it will take 24 hours to activate it.  SSS online can provide information about your contributions or loan status if you have any and how much contributions you already have.    Important digits that you need to remember for your qualification in SSS benefits and programs:    36 months of contributions to qualify for loans with consistent payments for the previous 6 months.    120 months minimum contributions to have a pension. The bigger your contribution especially in the last 5 years for you to get a bigger pension.     Maternity benefit could be availed 4 times. It is important that you promptly advise SSS of your pregnancy. You can even do the notification via text message.  To be qualified to avail you need to be paying at least 3 months within the last 12 months before the semester of your pregnancy or miscarriage.     *For SSS members with outstanding unpaid loan balances, there is a Loan Condonation which started last April 12, 2018, and will last until October1, 2018. It is a good opportunity for those who seek loan restructuring and to lessen the penalty.  Please visit the SSS website or any of their offices near your area.    READ MORE: It's More Deadly In The Philippines? Tourism Ad In New York, Vandalized    Earn While Helping Your Friends Get Their Loan    List of Philippine Embassies And Consulates Around The World    Deployment Ban In Kuwait To Be Lifted Only If OFWs Are 100% Protected —Cayetano    Why OFWs From Kuwait Afraid Of Coming Home?   How to Avail Auto, Salary And Home Loan From Union Bank

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Here are more points that you should know if you are a voluntary member of SSS:

It is important that we secure our future not only for our own sake but for those who depend on us. If we cannot afford to buy private insurance policies, the government can help us to have it through the Social Security System (SSS). Local employees, businessmen, entrepreneurs, private individuals, and even overseas Filipino workers (OFW) can be a voluntary member. And as a member, it is important to know how being an SSS member could be advantageous to us. We have to know what benefits can we get and how can we avail it.  Advertisement         Sponsored Links      Here are more points that you should know if you are a voluntary member of SSS:   Members of SSS whom their payment of contributions has stopped due to lack of work or termination, they can still continue with their contributions as voluntary members.  There is no need to register anew or get a new SS number. You can use your existing SS number and pay for the current quarter. No need to pay for the previous years.    Remember the deadline for payment for your SSS contributions as a voluntary member. To know your deadline, you should refer to the last digit of your SS number.  -—If the last digit of your SS number is 1or 2, your deadline is on every 10th of the month.  —3 or 4, every 15th of the month  —5 or 6, every 20th of the month  —7 or 8, every 25th of the month  —9 or 0, every end of the month    You can access your SSS record online. You can go to their website and you may need to provide the receipt from your last payment. If you still don't have an SSS online account, it will take 24 hours to activate it.  SSS online can provide information about your contributions or loan status if you have any and how much contributions you already have.    Important digits that you need to remember for your qualification in SSS benefits and programs:    36 months of contributions to qualify for loans with consistent payments for the previous 6 months.    120 months minimum contributions to have a pension. The bigger your contribution especially in the last 5 years for you to get a bigger pension.     Maternity benefit could be availed 4 times. It is important that you promptly advise SSS of your pregnancy. You can even do the notification via text message.  To be qualified to avail you need to be paying at least 3 months within the last 12 months before the semester of your pregnancy or miscarriage.     *For SSS members with outstanding unpaid loan balances, there is a Loan Condonation which started last April 12, 2018, and will last until October1, 2018. It is a good opportunity for those who seek loan restructuring and to lessen the penalty.  Please visit the SSS website or any of their offices near your area.    READ MORE: It's More Deadly In The Philippines? Tourism Ad In New York, Vandalized    Earn While Helping Your Friends Get Their Loan    List of Philippine Embassies And Consulates Around The World    Deployment Ban In Kuwait To Be Lifted Only If OFWs Are 100% Protected —Cayetano    Why OFWs From Kuwait Afraid Of Coming Home?   How to Avail Auto, Salary And Home Loan From Union Bank
Members of SSS whom their payment of contributions has stopped due to lack of work or termination, they can still continue with their contributions as voluntary members.
There is no need to register anew or get a new SS number. You can use your existing SS number and pay for the current quarter. No need to pay for the previous years.
It is important that we secure our future not only for our own sake but for those who depend on us. If we cannot afford to buy private insurance policies, the government can help us to have it through the Social Security System (SSS). Local employees, businessmen, entrepreneurs, private individuals, and even overseas Filipino workers (OFW) can be a voluntary member. And as a member, it is important to know how being an SSS member could be advantageous to us. We have to know what benefits can we get and how can we avail it.  Advertisement         Sponsored Links      Here are more points that you should know if you are a voluntary member of SSS:   Members of SSS whom their payment of contributions has stopped due to lack of work or termination, they can still continue with their contributions as voluntary members.  There is no need to register anew or get a new SS number. You can use your existing SS number and pay for the current quarter. No need to pay for the previous years.    Remember the deadline for payment for your SSS contributions as a voluntary member. To know your deadline, you should refer to the last digit of your SS number.  -—If the last digit of your SS number is 1or 2, your deadline is on every 10th of the month.  —3 or 4, every 15th of the month  —5 or 6, every 20th of the month  —7 or 8, every 25th of the month  —9 or 0, every end of the month    You can access your SSS record online. You can go to their website and you may need to provide the receipt from your last payment. If you still don't have an SSS online account, it will take 24 hours to activate it.  SSS online can provide information about your contributions or loan status if you have any and how much contributions you already have.    Important digits that you need to remember for your qualification in SSS benefits and programs:    36 months of contributions to qualify for loans with consistent payments for the previous 6 months.    120 months minimum contributions to have a pension. The bigger your contribution especially in the last 5 years for you to get a bigger pension.     Maternity benefit could be availed 4 times. It is important that you promptly advise SSS of your pregnancy. You can even do the notification via text message.  To be qualified to avail you need to be paying at least 3 months within the last 12 months before the semester of your pregnancy or miscarriage.     *For SSS members with outstanding unpaid loan balances, there is a Loan Condonation which started last April 12, 2018, and will last until October1, 2018. It is a good opportunity for those who seek loan restructuring and to lessen the penalty.  Please visit the SSS website or any of their offices near your area.    READ MORE: It's More Deadly In The Philippines? Tourism Ad In New York, Vandalized    Earn While Helping Your Friends Get Their Loan    List of Philippine Embassies And Consulates Around The World    Deployment Ban In Kuwait To Be Lifted Only If OFWs Are 100% Protected —Cayetano    Why OFWs From Kuwait Afraid Of Coming Home?   How to Avail Auto, Salary And Home Loan From Union Bank
Remember the deadline for payment for your SSS contributions as a voluntary member. To know your deadline, you should refer to the last digit of your SS number.
-—If the last digit of your SS number is 1or 2, your deadline is on every 10th of the month.
—3 or 4, every 15th of the month
—5 or 6, every 20th of the month
—7 or 8, every 25th of the month
—9 or 0, every end of the month
It is important that we secure our future not only for our own sake but for those who depend on us. If we cannot afford to buy private insurance policies, the government can help us to have it through the Social Security System (SSS). Local employees, businessmen, entrepreneurs, private individuals, and even overseas Filipino workers (OFW) can be a voluntary member. And as a member, it is important to know how being an SSS member could be advantageous to us. We have to know what benefits can we get and how can we avail it.  Advertisement         Sponsored Links      Here are more points that you should know if you are a voluntary member of SSS:   Members of SSS whom their payment of contributions has stopped due to lack of work or termination, they can still continue with their contributions as voluntary members.  There is no need to register anew or get a new SS number. You can use your existing SS number and pay for the current quarter. No need to pay for the previous years.    Remember the deadline for payment for your SSS contributions as a voluntary member. To know your deadline, you should refer to the last digit of your SS number.  -—If the last digit of your SS number is 1or 2, your deadline is on every 10th of the month.  —3 or 4, every 15th of the month  —5 or 6, every 20th of the month  —7 or 8, every 25th of the month  —9 or 0, every end of the month    You can access your SSS record online. You can go to their website and you may need to provide the receipt from your last payment. If you still don't have an SSS online account, it will take 24 hours to activate it.  SSS online can provide information about your contributions or loan status if you have any and how much contributions you already have.    Important digits that you need to remember for your qualification in SSS benefits and programs:    36 months of contributions to qualify for loans with consistent payments for the previous 6 months.    120 months minimum contributions to have a pension. The bigger your contribution especially in the last 5 years for you to get a bigger pension.     Maternity benefit could be availed 4 times. It is important that you promptly advise SSS of your pregnancy. You can even do the notification via text message.  To be qualified to avail you need to be paying at least 3 months within the last 12 months before the semester of your pregnancy or miscarriage.     *For SSS members with outstanding unpaid loan balances, there is a Loan Condonation which started last April 12, 2018, and will last until October1, 2018. It is a good opportunity for those who seek loan restructuring and to lessen the penalty.  Please visit the SSS website or any of their offices near your area.    READ MORE: It's More Deadly In The Philippines? Tourism Ad In New York, Vandalized    Earn While Helping Your Friends Get Their Loan    List of Philippine Embassies And Consulates Around The World    Deployment Ban In Kuwait To Be Lifted Only If OFWs Are 100% Protected —Cayetano    Why OFWs From Kuwait Afraid Of Coming Home?   How to Avail Auto, Salary And Home Loan From Union Bank
You can access your SSS record online. You can go to their website and you may need to provide the receipt from your last payment. If you still don't have an SSS online account, it will take 24 hours to activate it.
SSS online can provide information about your contributions or loan status if you have any and how much contributions you already have.
It is important that we secure our future not only for our own sake but for those who depend on us. If we cannot afford to buy private insurance policies, the government can help us to have it through the Social Security System (SSS). Local employees, businessmen, entrepreneurs, private individuals, and even overseas Filipino workers (OFW) can be a voluntary member. And as a member, it is important to know how being an SSS member could be advantageous to us. We have to know what benefits can we get and how can we avail it.  Advertisement         Sponsored Links      Here are more points that you should know if you are a voluntary member of SSS:   Members of SSS whom their payment of contributions has stopped due to lack of work or termination, they can still continue with their contributions as voluntary members.  There is no need to register anew or get a new SS number. You can use your existing SS number and pay for the current quarter. No need to pay for the previous years.    Remember the deadline for payment for your SSS contributions as a voluntary member. To know your deadline, you should refer to the last digit of your SS number.  -—If the last digit of your SS number is 1or 2, your deadline is on every 10th of the month.  —3 or 4, every 15th of the month  —5 or 6, every 20th of the month  —7 or 8, every 25th of the month  —9 or 0, every end of the month    You can access your SSS record online. You can go to their website and you may need to provide the receipt from your last payment. If you still don't have an SSS online account, it will take 24 hours to activate it.  SSS online can provide information about your contributions or loan status if you have any and how much contributions you already have.    Important digits that you need to remember for your qualification in SSS benefits and programs:    36 months of contributions to qualify for loans with consistent payments for the previous 6 months.    120 months minimum contributions to have a pension. The bigger your contribution especially in the last 5 years for you to get a bigger pension.     Maternity benefit could be availed 4 times. It is important that you promptly advise SSS of your pregnancy. You can even do the notification via text message.  To be qualified to avail you need to be paying at least 3 months within the last 12 months before the semester of your pregnancy or miscarriage.     *For SSS members with outstanding unpaid loan balances, there is a Loan Condonation which started last April 12, 2018, and will last until October1, 2018. It is a good opportunity for those who seek loan restructuring and to lessen the penalty.  Please visit the SSS website or any of their offices near your area.    READ MORE: It's More Deadly In The Philippines? Tourism Ad In New York, Vandalized    Earn While Helping Your Friends Get Their Loan    List of Philippine Embassies And Consulates Around The World    Deployment Ban In Kuwait To Be Lifted Only If OFWs Are 100% Protected —Cayetano    Why OFWs From Kuwait Afraid Of Coming Home?   How to Avail Auto, Salary And Home Loan From Union Bank
Important digits that you need to remember for your qualification in SSS benefits and programs:

36 months of contributions to qualify for loans with consistent payments for the previous 6 months.

120 months minimum contributions to have a pension. The bigger your contribution especially in the last 5 years for you to get a bigger pension.

 Maternity benefit could be availed 4 times. It is important that you promptly advise SSS of your pregnancy. You can even do the notification via text message.
To be qualified to avail you need to be paying at least 3 months within the last 12 months before the semester of your pregnancy or miscarriage.
It is important that we secure our future not only for our own sake but for those who depend on us. If we cannot afford to buy private insurance policies, the government can help us to have it through the Social Security System (SSS). Local employees, businessmen, entrepreneurs, private individuals, and even overseas Filipino workers (OFW) can be a voluntary member. And as a member, it is important to know how being an SSS member could be advantageous to us. We have to know what benefits can we get and how can we avail it.  Advertisement         Sponsored Links      Here are more points that you should know if you are a voluntary member of SSS:   Members of SSS whom their payment of contributions has stopped due to lack of work or termination, they can still continue with their contributions as voluntary members.  There is no need to register anew or get a new SS number. You can use your existing SS number and pay for the current quarter. No need to pay for the previous years.    Remember the deadline for payment for your SSS contributions as a voluntary member. To know your deadline, you should refer to the last digit of your SS number.  -—If the last digit of your SS number is 1or 2, your deadline is on every 10th of the month.  —3 or 4, every 15th of the month  —5 or 6, every 20th of the month  —7 or 8, every 25th of the month  —9 or 0, every end of the month    You can access your SSS record online. You can go to their website and you may need to provide the receipt from your last payment. If you still don't have an SSS online account, it will take 24 hours to activate it.  SSS online can provide information about your contributions or loan status if you have any and how much contributions you already have.    Important digits that you need to remember for your qualification in SSS benefits and programs:    36 months of contributions to qualify for loans with consistent payments for the previous 6 months.    120 months minimum contributions to have a pension. The bigger your contribution especially in the last 5 years for you to get a bigger pension.     Maternity benefit could be availed 4 times. It is important that you promptly advise SSS of your pregnancy. You can even do the notification via text message.  To be qualified to avail you need to be paying at least 3 months within the last 12 months before the semester of your pregnancy or miscarriage.     *For SSS members with outstanding unpaid loan balances, there is a Loan Condonation which started last April 12, 2018, and will last until October1, 2018. It is a good opportunity for those who seek loan restructuring and to lessen the penalty.  Please visit the SSS website or any of their offices near your area.    READ MORE: It's More Deadly In The Philippines? Tourism Ad In New York, Vandalized    Earn While Helping Your Friends Get Their Loan    List of Philippine Embassies And Consulates Around The World    Deployment Ban In Kuwait To Be Lifted Only If OFWs Are 100% Protected —Cayetano    Why OFWs From Kuwait Afraid Of Coming Home?   How to Avail Auto, Salary And Home Loan From Union Bank
 *For SSS members with outstanding unpaid loan balances, there is a Loan Condonation which started last April 12, 2018, and will last until October 1, 2018. It is a good opportunity for those who seek loan restructuring and to lessen the penalty.
Please visit the SSS website or any of their offices near your area.
It is important that we secure our future not only for our own sake but for those who depend on us. If we cannot afford to buy private insurance policies, the government can help us to have it through the Social Security System (SSS). Local employees, businessmen, entrepreneurs, private individuals, and even overseas Filipino workers (OFW) can be a voluntary member. And as a member, it is important to know how being an SSS member could be advantageous to us. We have to know what benefits can we get and how can we avail it.  Advertisement         Sponsored Links      Here are more points that you should know if you are a voluntary member of SSS:   Members of SSS whom their payment of contributions has stopped due to lack of work or termination, they can still continue with their contributions as voluntary members.  There is no need to register anew or get a new SS number. You can use your existing SS number and pay for the current quarter. No need to pay for the previous years.    Remember the deadline for payment for your SSS contributions as a voluntary member. To know your deadline, you should refer to the last digit of your SS number.  -—If the last digit of your SS number is 1or 2, your deadline is on every 10th of the month.  —3 or 4, every 15th of the month  —5 or 6, every 20th of the month  —7 or 8, every 25th of the month  —9 or 0, every end of the month    You can access your SSS record online. You can go to their website and you may need to provide the receipt from your last payment. If you still don't have an SSS online account, it will take 24 hours to activate it.  SSS online can provide information about your contributions or loan status if you have any and how much contributions you already have.    Important digits that you need to remember for your qualification in SSS benefits and programs:    36 months of contributions to qualify for loans with consistent payments for the previous 6 months.    120 months minimum contributions to have a pension. The bigger your contribution especially in the last 5 years for you to get a bigger pension.     Maternity benefit could be availed 4 times. It is important that you promptly advise SSS of your pregnancy. You can even do the notification via text message.  To be qualified to avail you need to be paying at least 3 months within the last 12 months before the semester of your pregnancy or miscarriage.     *For SSS members with outstanding unpaid loan balances, there is a Loan Condonation which started last April 12, 2018, and will last until October1, 2018. It is a good opportunity for those who seek loan restructuring and to lessen the penalty.  Please visit the SSS website or any of their offices near your area.    READ MORE: It's More Deadly In The Philippines? Tourism Ad In New York, Vandalized    Earn While Helping Your Friends Get Their Loan    List of Philippine Embassies And Consulates Around The World    Deployment Ban In Kuwait To Be Lifted Only If OFWs Are 100% Protected —Cayetano    Why OFWs From Kuwait Afraid Of Coming Home?   How to Avail Auto, Salary And Home Loan From Union Bank
This article is filed under: SSS Email, SSS Main Office, SSS Check Status, SSS Program, SSS Membership



©2018 THOUGHTSKOTO

Saturday, April 14, 2018

Can You Still Claim The Pension Of Your Deceased Spouse From SSS If You Already Have A New Partner?




 Josephine Condez, a widow of a deceased Social Security System (SSS) member goes back and forth at the SSS office for the approval of her claim for pension as the legal wife. Although they are married, Condez and her late husband were long been separated until the latter died in 2015. A family member of her late husband told SSS that she is now having a new partner which placed her claims on hold.
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Condez said they are counting on the pension so that her son could finally go to the doctor. He has a condition with his eyes which needed surgery.
Josephine Condez, a widow of a deceased Social Security System (SSS) member goes back and forth at the SSS office to claim the pension as a legal wife. Although they are married, Condez and her late husband were long been separated until the latter died in 2015. A family member of her late husband told SSS that she is now having a new partner which placed her claims on hold.  Advertisement  {PUT THE BANNER GRAPHICS AND PARAGRAPH HERE}   Sponsored Links       Condez said they are counting on the pension so that her son could finally go to the doctor. He has a condition with his eyes which needed surgery.    SSS explains that being a legal wife is not a guarantee that you can claim your deceased partner's pension and benefits automatically.   SSS spokesperson Luisa Sebastian clarified that the claimant should have a dependency on the pensioner. She also said that being separated with the pensioner is alright otherwise, the benefits will be cut off as the dependency no longer exists. In Condez's case, due to the disability of one of her kids, she can still claim the benefits even if the kid isn't a minor anymore. After a though investigation, SSS has approved her claim.  READ MORE:   Recruiters With Delisted, Banned, Suspended, Revoked And Cancelled POEA Licenses 2018  List of Philippine Embassies And Consulates Around The World     Classic Room Mates You Probably Living With   Do Not Be Fooled By Your Recruitment Agencies, Know Your  Correct Fees  Remittance Fees To Be Imposed On Kuwait Expats Expected To Bring $230 Million Income    TESDA Provides Training For Returning OFWs   Cash Aid To Be Given To Displaced OFWs From Kuwait—OWWA      Former OFW In Dubai Now Earning P25K A Week From Her Business    Top Search Engines In The Philippines For Finding Jobs Abroad    5 Signs A Person Is Going To Be Poor And 5 Signs You Are Going To Be Rich  ©2018 THOUGHTSKOTO  www.jbsolis.com

SSS explains that being a legal wife is not a guarantee that you can claim your deceased partner's pension and benefits automatically.
Josephine Condez, a widow of a deceased Social Security System (SSS) member goes back and forth at the SSS office to claim the pension as a legal wife. Although they are married, Condez and her late husband were long been separated until the latter died in 2015. A family member of her late husband told SSS that she is now having a new partner which placed her claims on hold.  Advertisement  {PUT THE BANNER GRAPHICS AND PARAGRAPH HERE}   Sponsored Links       Condez said they are counting on the pension so that her son could finally go to the doctor. He has a condition with his eyes which needed surgery.    SSS explains that being a legal wife is not a guarantee that you can claim your deceased partner's pension and benefits automatically.   SSS spokesperson Luisa Sebastian clarified that the claimant should have a dependency on the pensioner. She also said that being separated with the pensioner is alright otherwise, the benefits will be cut off as the dependency no longer exists. In Condez's case, due to the disability of one of her kids, she can still claim the benefits even if the kid isn't a minor anymore. After a though investigation, SSS has approved her claim.  READ MORE:   Recruiters With Delisted, Banned, Suspended, Revoked And Cancelled POEA Licenses 2018  List of Philippine Embassies And Consulates Around The World     Classic Room Mates You Probably Living With   Do Not Be Fooled By Your Recruitment Agencies, Know Your  Correct Fees  Remittance Fees To Be Imposed On Kuwait Expats Expected To Bring $230 Million Income    TESDA Provides Training For Returning OFWs   Cash Aid To Be Given To Displaced OFWs From Kuwait—OWWA      Former OFW In Dubai Now Earning P25K A Week From Her Business    Top Search Engines In The Philippines For Finding Jobs Abroad    5 Signs A Person Is Going To Be Poor And 5 Signs You Are Going To Be Rich  ©2018 THOUGHTSKOTO  www.jbsolis.com
SSS spokesperson Luisa Sebastian clarified that the claimant should have a dependency on the pensioner. She also said that being separated with the pensioner is alright otherwise, the benefits will be cut off as the dependency no longer exists.
In Condez's case, due to the disability of one of her kids, she can still claim the benefits even if the kid isn't a minor anymore.
After a though investigation, SSS has approved her claim.



This article is filed under: SSS Email, SSS Main Office, SSS Check Status, SSS Program, SSS Membership



©2018 THOUGHTSKOTO

Friday, February 02, 2018

4 Easy Steps to Check Your SSS Contribution Online



As a member of Social Security System or SSS, there are many reasons why you should regularly check your contribution online.

As an employee of a company, you will know if your employer is remitting the exact amount of your contribution. If you are a self-employed and voluntary member, you will know immediately if you have missed or incorrect payment by regularly monitoring your contribution.

SSS is indeed a big help in times of financial difficulty. As a member, you can avail of an SSS loan, SSS housing loan and other SSS benefits such as for sickness and maternity.

If you think that checking your SSS contribution is a hassle, well not anymore because you can do it online, anytime, anywhere. All you need now is an access to SSS website.



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The following are four easy steps to check your SSS contribution;

First Step - Go to SSS Website

You need to have a My.SSS account before you can access your SSS contribution online. You can do the checking in less than five minutes but it will depend on the speed of your internet connection.

To use the website properly, download and install Internet Explorer (IE) 11. If you’re using another browser such as Google Chrome, Mozilla Firefox, or Safari, a message prompt appears on the screen when you get to the homepage.
(Photo Credit to www.moneymax.ph)


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Step - 2 Log into your My.SSS account

You will see this on the right panel of the SSS home page. Enter your My.SSS account’s user ID and password under Member Login.

If you forgot your user ID or password, click on “Forgot User ID or Password?” under the Submit button. You’ll see a page where you’ll have to enter your user ID (if you forgot only your password) or your email address (if you forgot both your user ID and password.) Click Submit and check your email for instructions from SSS about the retrieval or reset of your My.SSS account login details.



Step - 3 Go to the Member Inquiry page


Point your mouse over the E-SERVICES menu and then click on "Inquiry". The Member Inquiry page will show up where you will see your SSS membership information.
(Photo Credit to www.moneymax.ph)
Step - 4 Go to the Contributions – Actual Premiums page

On the Member Inquiry page, select the "Member Info" bar and then click on "Actual Premiums."
(Photo Credit to www.moneymax.ph)
There you have it, the Contribution - the Actual Premium page will show all your monthly contribution paid since the year you started as an SSS member. Here you will see which months you have no posted contribution. No posted contribution means, you are unemployed during those months or your employer has not remitted your contributions yet.

In this page, you can also view your total number of SSS contribution posted and the total amount of contribution you paid.
(Photo Credit to www.moneymax.ph)
If you see some inconsistencies, you can talk to your HR department if you are employed. If you are self-employed, you can make the needed corrections.

By checking online your SSS contribution you will know if you are now eligible for an SSS loan. When applying for an SSS loan, you need to have at least 36 posted monthly contribution. Six of which should be within the last 12 months prior to the month of filing of an application.
By regularly monitoring online your SSS contribution you will know if you can avail the loan or not!

Checking your contribution regularly will lessen the possibility of some problems when you apply for a SSS loan or SSS pensions even claiming your benefits when you need it!





This article is filed under: SSS Email, SSS Main Office, SSS Check Status, SSS Program, SSS Membership



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SSS Monthly Pension Calculator Based On Monthly Donation

As an SSS member, do you any idea how much you will get after many years of religiously paying your contributions?   We will give an idea on how SSS monthly pension is computed.         The monthly pension computation is based on this formulas and whichever the higher value may be, that will be the amount of your monthly pension.   A) 300 + (20% x AMSC*) + (2% x AMSC) x (CYS** – 10)    B) 40% x AMSC;     C) The minimum pension of P1,200, if with at least 10 CYS; or P2,400, if with at least 20 CYS, whichever is applicable.    *AMSC (Average Monthly Salary Credit)  ** CYS (Credited Years of Service)    Using three computations above, assuming the case of someone who contributed for 25 years based on the AMSC of P16,000.      Using the first formula, we have P300 + 20 percent (16,000) + [2 percent (16,000) x (25-10)]=P300 + P3,200 + [320 x15]=P8,300. The basic pension amount in this case is P8,300.    The second formula, which is 40 percent of the AMSC, will be 40 percent of P16,000=P6,400.      Applying the third formula would yield P2,400 as the basic pension.       Since the law provides that the highest amount shall be granted as the pension, this means that the basic pension shall be P8,300.       Sponsored Links        For example, the cases of Juan and Pedro. Juan has a monthly salary credit of P1,000 (the lowest salary level subject to the SSS contribution) and contributes to SSS based on this salary for 25 years, while Pedro has a monthly salary credit of P16,000 (the maximum salary as of to-date) and also contributes for 25 years.       Juan’s monthly contribution of P110 would total P33,000 after 25 years of contribution to the SSS, while Pedro, whose monthly contribution of P1,7650, would sum up to P528,000 after 25 years.    If they both file for retirement pension at the same time and receive pensions for 25 years, Juan, whose pension will amount to P2,400 per month, would have received a total of P780,000, while Pedro, whose monthly pension is P8,300, would have received P2,699,500 after 25 years.      If they both pass away their pensions will cross over to their spouses as their primary beneficiaries.    Now that you have an idea how much you will be received in case you will retire, it is in your hands how much would you like to contribute for your retirement. The bigger your contribution, the bigger pension you will get once you retired.    Read More:   Popular Pinoy Stores In Canada  10 Reasons Why Filipinos Love Canada  Comparison Of Savings  Account In The Philippines:  Initial Deposit, Maintaining  Balance And Interest Rates  Per Annum  Mortgage Loan: What You Need To Know  Passport on Wheels (POW) of DFA Starts With 4 Buses To Process 2000 Applicants Daily   Did You Apply for OFW ID and Did You Receive This Email?  Jobs Abroad Bound For Korea For As Much As P60k Salary  Command Center For OFWs To Be Established Soon    ©2018 THOUGHTSKOTO  www.jbsolis.com   SEARCH JBSOLIS, TYPE KEYWORDS and TITLE OF ARTICLE at the box below

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