SSS Retirement Benefit Ready To Help You Ensure Your Future

SSS Retirement Benefit Features & Requirements in Filing Claim

SSS RETIREMENT BENEFIT – Here’s a guide on the Retirement Benefit offer for the Social Security System members.

The Social Security System, more popularly called SSS, has several benefit offers for its members. Undeniably, among the many benefit offers of the state-run social insurance giant which attend to different needs, the benefit offer that the members look forward to the most is the SSS Retirement Benefit.

The Retirement Benefit is a preparation for a turn-to during your senior years. Thus many people are in the pursuit of qualifying for it when the time comes that they decide to stop working. In the case of the SSS members, it is open for members who are in any of the following situations:

  • 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)

Under the SSS Retirement Benefit offer, a retiring member may receive either a monthly pension or a lump sum. The monthly pension is a lifetime cash benefit paid to the retirees who have posted at least 120 monthly contributions at the time of their retirement. The pensioners may receive the following:

  • the SSS monthly retirement pension
  • P1,000 additional benefit effective January 2017
  • 13th month pension payable every December
  • if the pensioner has dependent minor children, there will be Dependent’s Pension equivalent to 10% of the monthly pension of the member or P250, whichever is higher

If the retiring member’s total monthly contributions is below 120, he/she is entitled for a lump sum. It is a one-time cash payment paid to retirees and it “is equal to the total contributions paid by the member and/or by his/her ERs, including the interest earned”.

In filing for the SSS Retirement Benefit claim, there are documents that a retiring member must submit to the Social Security System. Here are the requirements set by the state entity under the benefit offer:

  • duly-accomplished Application Form for SSS Retirement Claim
  • Birth certificate
  • valid IDs, both primary and secondary
  • ATM card, passbook, or cash card enrollment form, in original or photocopy, with name on it.
  • Marriage certificate
  • If the member is under 65, a certificate of separation from their previous employer must be submitted.
  • If necessary, additional supporting documents
SSS Death Benefit

In the event of death, members of the Social Security System may take peace in knowing that their beneficiaries or families will not be left with nothing. The dependents may be granted a pension or lump sum under the SSS Death Benefit offer.

Leave a Comment