List of SSS Retirement Benefits for Members of the Social Security System
Here are the other SSS Retirement Benefits that a retired member of the Social Security System may get aside from the monthly pension.
Are you one of the thousands of members of the Social Security System who are loooking forward to an SSS monthly pension? It is under the Retirement Benefit offer of the state-run social insurance agency.
To qualify, you need to reach the retirement age and you must have posted at least 120 monthly contributions in your account. With regards to the amount of the monthly pension, it is dependent on certain factors like the total number of the monthly contributions posted by the member, his/her credited years of service, and the member’s average monthly salary credit or AMSC.
Aside from the monthly pension, there are other SSS retirement benefits that a pensioner is entitled to. Here are these other benefits for retirees:
- 13th Month Pension every December
- automatic membership to PhilHealth for retiring members who are still not a member of the health insurance agency after 65 years old
- PhilHealth hospitalization benefits for the member and his/her dependents
- dependents allowance
The allowance for the dependents is in line with the state-run social insurance giant recognizing that aside from the retired member himself/herself, he/she may have a child needing some financial support.
In filing a claim for the SSS Retirement Benefit for a monthly pension, there are documents that need to be submitted to the Social Security System. Make sure to have all the required documents for your claim to be processed right away.
In case the pensioner decides to return to work before 65 years old, the monthly pension will be suspended until he/she reaches 65 years old. Be aware that there might be deductions from the total pension such as the following:
- all unpaid SSS loans
- overpaid pension due to dependent’s death, employment, or marriage
- overlapping SSS sickness and partial disability benefits