How Much Is the Minimum SSS Pension Amount Pensioner Is Entitled To
SSS PENSION AMOUNT – Here is a guide on the minimum monthly pension that a Social Security System (SSS) pensioner will get.
What most people secure for the future is membership to SSS or the Government Service Insurance System (GSIS). Each of these social insurance institutions offers benefits for its members.
The SSS is open for the employees of private companies and self-employed individuals while the GSIS offers membership to employees of the government and public sector.
With regards to the SSS member benefits, among it are the sickness, maternity, disability, retirement, and death benefits. The SSS Retirement Benefit is the one that is most looked-forward to by the members.
Under the Retirement Benefit offer, a retired member may apply for a monthly pension or a lump sum. The latter is a one-time cash payment for those who did not reach 120 monthly contributions.
While under the pension, the retiree will receive cash monthly as long as he or she does not return to work or business between the age of 60-64 years old.
The SSS pension amount that a pensioner will receive every month depends on his or her total contribution. On their official website, the social insurance institution has provided an idea on the minimum amount that a pensioner will receive.
For pensioners who have paid 120 total monthly contributions, the SSS pension amount will not fall below Php 1,200.00. For those who have at least 20 credited years of service.
To apply for the monthly pension, you may visit this link for the requirements that you have to prepare – SSS Retirement Requirements – What To Prepare in Applying For SSS Retirement Benefit.
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