How Much Will Be Your SSS Monthly Contribution Rate? Here’s A Full List of Rates Based on Compensation Range
SSS MONTHLY CONTRIBUTION RATE – Here is a full list of the monthly contribution rates to Social Security System (SSS) based on the range of compensation of an employee.
Most of the employees in the private sectors and companies are insured under the Social Security System or more commonly called as the SSS. It is a social insurance program ran by the government.
If you are a member of the SSS, you may be entitled to a lot of benefits and claims including a monthly pension when you reached 60 years old and the target number of monthly contributions.
Aside from the monthly pension, there are other several benefits like the salary loan, business loan, and housing loan that you may avail. It is a part from the sickness benefits and other benefits offered.
As a member of the Social Security System, you will have to pay for an SSS monthly contribution rate depending on your compensation. The social insurance program has set a list of the range of compensations.
Based on the official website of the SSS, here is a full list of the rates based on the range of the compensation received by an employee. You may check here the amount that you will have to pay as an SSS monthly contribution rate.
To avail the monthly pension benefits upon reaching the age of 60 years old, an SSS member should have paid at least 120 monthly contributions.
Aside from the employees of the private companies and sectors, non-working individuals may also apply for membership to the social insurance program.
As long as you are at least 15 years old and can manage to pay for the SSS monthly contribution rate set for you, you may enjoy the benefits and claims offered in this social insurance program.
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