Eligibility Requirements for SSS Lump Sum & Pension Retirement Benefits
SSS LUMP SUM – Here is a guide on who are qualified for the Social Security System retirement benefits such as the lump sum and the monthly pension.
Undeniably, among the several SSS member benefits offered by the Social Security System, the retirement benefit is the one that is most sought-after. It is a long-term goal of most members.
Under the retirement benefit, there is an assurance that you will be receiving an amount of money when old age comes or by the time you hit 60 years old. It may not only help the member but as well as the family of the member.
In order to avail the SSS retirement benefit, one must pass the eligibility requirements set by the social insurance institution. In this article, we will discuss who are qualified for the SSS lump sum and the monthly pension.
Based on the official website of the Social Security System, here are the guidelines on who are qualified to avail an SSS lump sum or a monthly pension which are the retirement benefits offered:
An SSS member who has paid at least 120 monthly contributions is eligible for a monthly pension. The following are covered under this retirement benefit:
- a 60-year-old member who got separated from work or stopped being self-employed
- a 65-year-old member who is still working
- underground mine workers aging 55-60 years old and are set to retire not earlier than March 13,1998
- underground or surface mine workers aging 50-60 years old and are set to retire from work not earlier than April 27, 2016
- racehorse jockeys aging 55 years old and are set to retire not earlier than May 24, 2016
SSS Lump Sum
Those SSS members who have reached the retirement age but have not reached 120 total monthly contributions to the social insurance institution may get a lump sum as a retirement benefit. It is a one-time payment that is equal to amount posted by the member and his or her employer(s) plus the interest.
Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.
READ ALSO: SSS RETIREMENT BENEFIT – What Retiree May Receive Aside from Monthly Pension
Pwde ko PO bang makuha na Ang hulog ko sa sss.. di na PO ako nagtatrabho..
Ako po ay common law wife ni Romeo G. Banjao.namatay po siya nuong June 23,2012.nakuha ko po ung burial niya 2013,kaya lang ang kinukuha ko na lang ngayon ay yung lump sum niya na hindi ko pa nakukuha hanggang ngayon dahil wala po akong bank account.pwede ko pa po bang makuha un?meron po kaming siyam(9)na anak.
Thank you very much for the information, can an SSS member can file a retirement after the age 60 yrs. old? Has contributed 120 days more can continue to contribute as self employed? Thank you
I have applied for a retirement benefits for lump sum, here in Del Monte branch.
May I know, what’s the update? My sss number is 03-4968446-2
Thank you.
Respectfully,
Alfredo F. Garcia
Member
How to avail a housing repair loan
How to get or apply a lump sum benefits of my late father?
Can i still apply for a second lump sum retirement benefits after I received my first lump sum pension benefits?
Applying 18months lump
How can i apply for the lumpsum retirement and monthly pension for my SSS ? I am 62 years old… my birthdate is January 23, 1960..
How much lumpsum amount will i get ? and how much monthly pension will i receive ?
My SSS number : 03-7622893-0
How much lumpsum amount will i get ? and how much monthly pension will i receive ?
My SSS number : 03-7622893-0
Question ko lng po pwede na po kayang i lump sum ung sss kahit hndi pa nakaka 60yrs old im 40 yrs old for now at since 2009 up to 2022 na ako nakakapaghulog sa sss pero meron nman akong naloan at may utang pa sa sss salamat po sana po masagot ung katanungan ko po
kailan makuha ang lump-sum benefits ko? nag 61 years na ako last November 12 2022, complete na ang database ko may schedule na may contingency date na nakalagay. hangang ngayon wala pa.. paki explain kung anong nangyari ?
bat ayaw po ng death claim. may problema po ba sa sss?
my mother completed her 120 contributions at the age of 63, received 18 months of lump sum, is she still qualified to receive monthly pension after 18 months of her lumpsum?