SSS Retirement Benefits — A Complete Guide on Monthly Pension vs. Lump Sum

Details about the SSS Retirement Benefits “Pension” & Lump Sum for Senior Members

SSS RETIREMENT BENEFITS – Here is a complete guide on the monthly pension and the lump sum for the retiring members of the Social Security System.

SSS members who have reached 60 years old and stopped working may be eligible to apply for a Retirement Benefit. Undeniably, it is something that most members look forward to – something that you can turn to financially in your senior years.

Who are qualified to apply for the SSS Retirement Benefits? To be eligible, the retiring member must have posted at least 120 monthly contributions prior to the semester of the retirement and belongs to any of the following categories:

• at least 60 years old and separated from employment or has ceased to be an SE/OFW/Household Helper (optional retirement);
• at least 65 years old whether still employed/SE, working as OFW/Household Helper or not (technical retirement);
• at least 55 years old and separated from employment or has ceased to be an SE, if an “underground mineworker” (optional retirement);
• at least 60 years old whether still employed/SE or not, if an “underground mineworker” (technical retirement); or
• a total disability pensioner who has recovered from disability and is at least 60 years old (or at least 55 years old, if an underground mineworker)

There are two (2) types of SSS Retirement Benefits – the Monthly Pension and the Lump Sum. The monthly pension is a lifetime cash benefit paid to the retiree on a monthly basis while the lump sump is a one-time payment granted to retirees who have posted less than 120 monthly contributions.

To check how much you may get under the Monthly Pension benefit offer, you may visit — SSS Monthly Pension – Here’s List of Cash Benefits You Will Get from your Retirement.

With regards to the lump sum, for a guide on how much you may get as a one-time payment, feel free to visit — SSS Lump Sum – Here’s How Much a Member-Pensioner Will Get.

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