After you make a full withdrawal of your total accumulated AV, you must enroll again to become a WISP Plus member, subject to the guidelines of the WISP Plus Program.
WISP vs WISP Plus: What is Their Difference?
To summarize, here’s how the WISP and WISP Plus Programs differ from each other.
|Who can qualify||
||All SSS members|
|How to enroll||Automatic enrollment if you have an MSC of over ₱20,000||Via MySSS|
||Minimum of ₱500 per payment|
|Payment||Monthly with regular SSS contributions||Can pay contributions anytime|
|Withdrawal||No||Yes (partial or full)|
|Benefit||Lump sum or annuity||Lump sum|
With today’s cost of living, your SSS retirement will simply not be enough to pay for everything that you need to retire comfortably. So why not make additional savings in the next few years with your WISP SSS contribution? While you’re able and earning, take advantage of this affordable and convenient way to save and invest.
-  SSS members' mandatory provident fund generates an income of PHP333.77 million and returns of 6.39% in its first year (SSS, 2022)
-  The Social Security System (SSS) introduces the Worker’s Investment and Savings Program (WISP) Plus, its newest retirement savings scheme for SSS members (SSS, 2022)
DISCLAIMER: The opinions expressed by the writer are theirs alone, and do not reflect the opinions of Moneymax and/or its affiliates or any employee thereof. Neither Moneymax or its affiliates are responsible for the accuracy of any of the information supplied by the guest writer. The opinions expressed in this blog are for general informational purposes only and are intended to provide education about the financial industry.
Nothing in this blog constitutes investment or financial advice or any recommendation that any security, portfolio of securities, investment product, transaction or investment strategy is suitable for any specific person. This material does not take into account your personal circumstances, finances, goals and/or objectives; all of which are unique to you. Readers must make an independent decision regarding investments or strategies mentioned on this blog or elsewhere on www.moneymax.ph. We strongly consider seeking advice from your own financial or investment adviser before taking any action. We do not make any representation or warranty as to the accuracy, completeness or correctness of the information set out in this article.