The SSS retirement benefit is a cash benefit paid either as a monthly pension or a as lump sum to a member who can no longer work due to old age. Those who are receiving monthly pensions have their pensions doubled every December as a bonus from SSS.
Types of retirement benefits:
Member must have paid at least 120 monthly contributions prior to the semester of retirement and is any of the following, whichever is applicable
Types of retirement benefits:
- Monthly pension – a lifetime cash benefit paid to a retiree on a regularl basis.
- Lump sum amount – one-time payment granted to a retiree. The amount is equal to the total contributions paid by the member and/or by his/her ERs, including interest earned
How to Calculate your Pension:
1. Go to SSS Retirement Calculator, HERE!
2. Enter your Date of Birth, Month and Year Started as an SSS Member and Monthly Salary/Earnings.
3. Click Compute.
SSS Calculator will then compute your Monthly Pension as shown below:
Qualifying Conditions
Member must have paid at least 120 monthly contributions prior to the semester of retirement and is any of the following, whichever is applicable
- 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).
Watch our video tutorial on How to Compute your SSS Monthly Retirement Pension
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