February 8, 2018 | Posted by: Venus Zoleta | Government Services
February 8, 2018
When talking about SSS benefits, what usually come to mind are the pension, sickness, and maternity benefits, as well as the SSS salary loan.
Data from the Social Security System (SSS) show that more than one million Filipinos are receiving retirement benefits and another 1.39 million availed of a salary loan in 2017.
Have you heard about the P.E.S.O Fund? Ever filed an Employee’s Compensation claim? If these things sound new to you, it’s time to educate yourself about these lesser-known yet very useful SSS benefits. Who knows, you might need one of them someday, if not soon.
If the Pag-IBIG Fund has the Modified Pag-IBIG 2 Savings Program for qualified members, SSS has the Personal Equity and Savings Option (P.E.S.O.) Fund. Both are optional savings/investment schemes that provide their respective members an opportunity to earn additional income by paying higher monthly contributions.
To join the program, any SSS member (employee, self-employed professional, voluntary member, or OFW) must meet these qualifications:
Eligible SSS members can enroll in the Fund either over-the-counter at any SSS branch or via the My.SSS online service facility.
Steps to enroll via My.SSS
Upon enrollment, SSS members can pay at least PHP 1,000 per contribution to the Fund anytime they have extra money for savings. The maximum total contribution per year is PHP 100,000.
Did you know that when you suffer from work-related sickness, injury, or disability, you can get additional benefits in addition to the regular SSS sickness or disability benefits?
If you’re an employee and SSS member, you’re already covered under the Employees’ Compensation (EC) program. Also, your employer pays the monthly EC contributions (PHP 10 or PHP 30) on your behalf during your employment with the company. Thus, you don’t have to register and pay contributions to get an EC coverage.
Check out this guide for more information about the EC program.
Anyone who pays for the burial expenses of a deceased SSS member or pensioner, whether a beneficiary or not, is entitled to an SSS funeral benefit ranging from PHP 20,000 to PHP 40,000. Even a funeral parlor that has shouldered a member’s burial costs can file for a funeral benefit claim.
To file a claim for funeral benefit at any SSS branch, one has to submit the following:
Check out this guide for more information about the SSS funeral benefit.
SSS also provides a cash benefit to members with partial or total permanent disability. The disability pension ranges from PHP 1,000 to PHP 2,400 per month, along with a PHP 500 supplemental allowance.
To qualify, a member must have paid at least one-month contribution before the semester of disability. Disabled and qualified SSS members receive the benefit either as a lump sum (for members who have paid less than 36 monthly contributions) or a monthly pension (for those with at least 36 monthly contributions.)
Check out this guide for more information about the SSS disability benefit.
SSS strongly encourages its members to keep their personal data updated in their records for a hassle-free claiming of SSS benefits. If you have to make changes to your SSS membership information, submit an accomplished Member Data Change Request form to the nearest SSS branch along with the documents specified at the back of the form.