Details about the SSS Funeral Benefit Amount Now
The Social Security System (SSS) raised the maximum amount of its Funeral Benefit for members to Php 60,000.00.
Undeniably, a wake and burial do not only post an emotional challenge for the grieving family nowadays. There is also a financial challenge most especially when the deceased was hospitalized prior to his/herdeath incurring medical expenses.
Giving a deceased loved one a decent burial can be challenging for both low and middle-income earners. Thousands are needed for the expenses on the casket, the burial services, the permits, etc. Meanwhile, for the members of the different government institutions in the Philippines, their loved ones may have Funeral Benefits that they can turn to.
One of the government offices that offer a Funeral Benefit is the Social Security System, More popularly called SSS, it is a state-run social insurance giant in the country. Most of its members are local employees in the private sector and self-employed individuals.
The SSS also opened its doors to overseas Filipino workers (OFWs) and voluntary members. Many of them also maintain active memberships to the SSS.
With regards to the SSS Funeral Benefit amount, the Social Security System recently announced that the maximum amount is raised to Php 60,000.00. The said raise was set starting October 20, 2023.
According to the SSS, the family of a deceased member or anyone who paid for the funeral expenses of the member may receive between Php 20,000 to Php 60,000 if the member has posted at least 36 monthly contributions.
For members who have paid at least one (1) monthly contribution but less than 36 monthly contributions will get a fixed amount of Php 12,000.
The Social Security Systrem’s enhanced funeral benefit is in the pursuit to help cover the costs of the burial transfer services and permits, embalming services, cremation or interment services, funeral services, coffin, and other funeral expenses.