Subscribe to our newsletter, please? 

Reasons why you should sign up for the Moneymax newsletter right now:

✅ Get the latest Moneymax promos

✅ Find the latest credit card deals

✅ Weekly financial guides and tips

I agree to the terms and conditions and agree to receive relevant marketing content according to our privacy policy.

Success Tick Icon
Success! Thank you for signing up for our weekly Moneymax newsletter.

Work, Invest, Save, and Prosper: SSS WISP vs WISP Plus

Rouselle Isla

Rouselle Isla

Last updated February 24, 2023

The SSS has been heavily promoting its concept of “work, save, invest, and prosper.” With the effects of the pandemic and inflation on the Philippine economy, it's not easy to find a savings and investment plan that's affordable, safe, flexible, and even tax-free.  

The Social Security System (SSS)'s WISP is one of your options. In this article, learn more about your WISP SSS contributions and WISP Plus, SSS' new retirement savings program.

What is WISP in SSS Contributions?

wisp sss contributions - what is wisp

So what is WISP in SSS for? Is WISP mandatory?

The meaning of WISP in SSS is Worker’s Investment and Savings Program. The SSS implemented the WISP in January 2021 as part of the SS Law amendment in 2018. It's a compulsory provident fund program for SSS members whose contributions to the regular program under the Monthly Salary Credit (MSC) exceed ₱20,000.

The WISP covers contributions over the ₱20,000 MSC and up to the prescribed maximum MSC. Self-employed, voluntary, and OFW members must shoulder WISP contributions on their own.

It’s a safe and convenient way to contribute to your individual retirement fund or savings plan. Moreover, your principal is protected, and it’s tax-free.

This means that aside from the regular SSS pension you’ll receive upon retirement, your WISP contributions will provide an additional source of retirement benefits.

Check out the WISP SSS contribution tables below:

For regular employers and employees

wisp sss contributions - for regular employers and employees

For self-employed members

wisp sss contribution - for self-employed members

👉 SSS WISP Benefits

On top of the benefits under the regular SSS program, WISP benefits include retirement pensions and total disability and death benefits. Here are other perks you can enjoy with this program:

✔️ Affordable, Safe, and Convenient

According to the SSS, WISP generated an income of ₱333.77 million, with a corresponding return of 6.39%, in its first year of implementation.[1]

It’s an easy and secure way to boost your retirement savings. Your WISP contributions earn competitive interest that compounds until your retirement. Your principal is protected, your contributions are guaranteed preserved, and you enjoy tax-free earnings.

✔️ Offers Higher Additional Benefits Upon Retirement

Because you’re paying your WISP and your regular SSS contributions, you can boost your savings and retirement fund faster.

Your employer also shares in paying the contributions. For example, for every ₱45 you put into your WISP, your employer puts in ₱95.

The sooner you start contributing to SSS and WISP, the more significant your retirement benefits will be. See how your WISP savings and benefits can grow:

wisp sss contribution - higher additional benefits

✔️ Receive Your Benefit in Lump Sum or Annuity

With the WISP, you will receive your benefits in lump sum or annuity, depending on how your SSS benefit in the regular program will be paid. If you choose to receive it in annuity, you’ll receive a fixed monthly pension until your total accumulated account value (AV) is fully settled. It will cover at least 15 years.

👉 The Downside of WISP

Your total accumulated AV will be the basis of your additional benefits, which will be given at the same time as your retirement or total disability or death benefits. Thus, your WISP earnings will be based on your contributions. If you only made a small contribution to WISP, the benefits will only equal the contributions made.

Also, unlike SSS programs such as the PESO and the Flexi-Fund Program for OFWs, where you can make an early withdrawal or refund, WISP benefits will only be released when you make a final benefit claim.  

Note: PESO and Flexi-Fund will soon be part of the WISP Plus Program.  

👉 How to Apply for WISP in SSS

If you’re employed in the private sector, self-employed, an OFW, or a voluntary member with a monthly salary higher than ₱20,000 and no final claim made in the regular SSS program, you’re automatically enrolled in and contributing to WISP.


What is WISP Plus?

Unlike the WISP, which is mandatory for SSS members who meet the criteria, WISP Plus is a voluntary retirement savings program for SSS members in addition to the regular SSS program.

It allows members to save and invest in an affordable, tax-free savings scheme while enjoying additional social security protection. WISP Plus earns more than regular savings and time deposits. You can receive additional benefits when you retire.

The priority of WISP Plus is capital preservation, so the following limits will guide its initial investment mix:

  • At least 15% in government securities, which can be increased up to 100% of the investments
  • Up to 20% in corporate/multilateral institutions and equities
  • Up to 25% in short- and medium-term loans to WISP Plus members (calamity, salary, livelihood loans, etc.)
  • Up to 40% in money market and BSP-approved investment instruments
  • Up to 70% in loans to pensioners


👉 How Much is the Minimum Investment in WISP Plus?

The minimum contribution is ₱500 per payment.

👉 Who Can Enroll in WISP Plus?

The WISP Plus is open to all SSS members, regardless of their membership type, declared monthly earnings, and last posted monthly salary credit (MSC).[2]

Employed members must have at least one posted regular SSS contribution within the last three months. On the other hand, self-employed, OFW, and voluntary members must have a posted regular SSS contribution for the current applicable payment month.

But like the WISP, members shouldn’t have claimed any final benefits, like total disability or retirement, to qualify for the program.

👉 How to Enroll in WISP Plus

If you want to enroll in WISP Plus, you can do so online. Enrollment to WISP Plus is only done once, and your membership to the program will not expire.

wisp sss contribution - how to enroll wisp plus

  1. Log in to your My.SSS account.
  2. Under Services, click Enroll to WISP Plus.
  3. Click View Terms and Conditions.
  4. Read the WISP Plus Program’s terms and conditions and click I Accept.

👉 How to Make an SSS WISP Plus Withdrawal

You can withdraw your WISP Plus total accumulated AV anytime if you’ve been a member for at least a year. Partial withdrawals are also allowed, provided it’s only done once a month and the remaining balance after the withdrawal is not lower than ₱500.

Partial or full withdrawal of WISP Plus savings before the first year is over will only be allowed for extreme hardship conditions, such as the following:

  • Critical illness of the WISP Plus member
  • Involuntary separation from employment
  • Repatriation from the host country (for OFWs)
  • Other conditions determined by the SSS

You'll receive adjusted earnings based on the following proportions:

Years of Membership in WISP Plus Percent of Earnings to Be Received
1 to <2 60%
2 to <3 70%
3 to <4 80%
4 to <5 90%
5 or more 100%

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
  • Private sector employees
  • Self-employed members
  • OFWs
  • Voluntary members
*Should have an MSC higher than ₱20,000 and no final claim in the regular SSS program
All SSS members
How to enroll Automatic enrollment if you have an MSC of over ₱20,000 Via MySSS
  • Shared by employer and employee
  • Self-employed, OFWs, and voluntary members pay their own WISP contributions
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

wisp sss contribution summary
what is wisp in sss contribution
wisp sss contribution benefits
how to apply wisp in sss
sss wisp plus


Final Thoughts

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.  

Apply for a personal loan through Moneymax


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.

Rouselle has over eight years of writing experience in the personal finance niche. She has written feature stories, articles, and how-to guides on various personal finance and trending lifestyle topics. Before that, she briefly worked in banking and was a licensed life insurance advisor. When not writing, Rouselle likes to read books and binge-watch films and series. Follow Rouselle on Linkedin.


Use a personal loan to consolidate your outstanding debt at a lower interest rate!

Get the latest articles, promos, and deals straight to your inbox. Make us your weekly habit!