Guide on SSS Retirement Benefit Requirements 2024 for Members
SSS RETIREMENT BENEFIT REQUIREMENTS 2024 – Listed below are the documents required by the Social Security System in filing for a claim.
Undeniably, among the many benefit offers of the Social Security System for its members, the SSS Retirement Benefit is the one that seems like the goal for everyone. It is a preparation for the future thus members try to maintain a regular posting of monthly contributions.
At the time of retirement, when a member has reached a total of 120 monthly contributions, he/she may file for an SSS Retirement Benefit. It can provide the retiring member with a monthly pension that is based on his/her total savings, the share of his/her employer, and the dividends earned by the savings. This is apart from the benefit of an updated account qualifying a member to the SSS loans.
To qualify for the monthly pension, the retiring member must meet the following SSS Retirement Benefit requirements for eligibility for claim application:
- 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
A member whose contributions have not reached 120 will get a lump sum or a one-time payment of all his/her contributions, the share of his/her employer, and the dividends earned. To file for a claim, here are the SSS Retirement Benefit requirements for application:
- duly-accomplished and signed SSS Retirement Benefit Claim Application Form (SSS Form DDR-1)
- one (1) primary ID or two (2) secondary IDs
- Birth Certificate or any valid ID showing your date of birth
- original and photocopy of passbook/ATM card with name, or copy of bank-validated deposit slip or Cash Card Enrollment form
- other supporting documents depending on the SSS requests
- 1 x 1 photo
Aside from the aforementioned documents, there are documentary requirements that must be presented to the SSS in filing for a claim. If the member himself/herself is the one who processes the claim, there is a need for:
- primary ID of the authorized representative or two (2) secondary IDs
- SSS recognizes the SSS ID, UMID, PRC card, Seaman’s Book, or Alien Certificate of Registration as primary IDs
In case the claim is processed by an authorized representative of the member, the representative must present the following to SSS:
- Letter of Authority (LOA) signed by the retiree-member or Special Power of Attorney (SPA) indicating the authority granted to the representative to file the claim on behalf of the retiree-member
