Guide on the SSS Death Benefit Amount 2024 for Beneficiaries
SSS DEATH BENEFIT AMOUNT 2024 – You can check here the details of the amount that the beneficiaries of a deceased Social Security System member.
In the Philippines, millions of Filipinos are members of the Social Security System or more popularly called SSS. It is a giant in terms of social insurance and its loan and benefit offers widen the resources of countless Filipinos not only in the country but as well as abroad.
Members of the Social Security System who regularly post monthly contribution may qualify to the loans and SSS benefits that were crafted to assist the members in different situations. Not only the members but also his/her family may benefit from the offers.
For example, in the case of the SSS Death Benefit, while it provides the member an assurance and peace of mind that his/her family will have something to turn to financially, it also guarantees the family members that they won’t be left with nothing.
Under the offer, the beneficiaries may get either a monthly pension or a lump sum. The primary beneficiaries are the legal spouse of the deceased member and the legitimate, illegitimate, and legally adopted children of the deceased SSS member who are 21 years old and below, disabled, or cannot financially support themselves.
In case the deceased member is not member or has no primary beneficiary, the secondary beneficiary is his/her parents. The SSS Death Benefit amount depends on the whether the deceased member is qualified for a pension or a lump sump.
Here’s a guide on the SSS Death Benefit amount:
SSS Death Pension — The beneficiary will get the highest amount yield by any of the following computations:
- 300 + (20% x AMSC) + (2% x AMSC) x (CYS – 10)
- 40% x AMSC
- minimum pension of Php 1,000 if CYS is below 10; Php 1,200 for 10 CYS; and Php 2,400 for 20 CYS
SSS Lump Sum — The lump sum benefit is equivalent to whichever is higher:
- Monthly Pension for every month of contribution paid to the SSS prior to the semester of death
- 12 times of the monthly pension
Aside from the aforementioned cash grants to the beneficiaries, there are also other SSS Death Benefits for the beneficiaries of deceased SSS members. To file a claim, make sure to submit the complete set of requirements for SSS Death Benefit application.