Showing posts with label sss tutorial. Show all posts
Showing posts with label sss tutorial. Show all posts

Tutorial on How to Calculate your SSS Monthly Distribution

admin 17:31 Add Comment
As an employee, you should know how much your monthly contribution to Social Security System (SSS) should be. In accordance with RA 11199, otherwise known as the Social Security Act of 2018. Starting January 2023, the members' contributions will increase from 13% to 14%.

As a member of Social Security System (SSS), this SSS Contribution Calculator will help conveniently compute your monthly contribution.

The calculator uses the latest SSS Contribution Table 2021 for the computation. We are currently limited to computing the contribution for employed members only. Future improvements will be adding other membership categories.

Step 2. Select Employed on Membership box
Step 3. Enter your Monthly Salary
Step 4- Hit Calculate and you will see the Computation Result as shown below.

How to Calculate your SSS Monthly Distribution

Watch our video tutorial on How to Calculate your SSS Monthly Distribution.

How to Compute your SSS Monthly Retirement Pension

admin 17:26 Add Comment
As an active SSS member having a monthly contribution automatically deduct by my company on my allowance, I would like to know my SSS Benefit upon retirement. Here's the tutorial on How to Compute your SSS Monthly Retirement Pension.

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:

  • 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:
2. Enter your Date of Birth, Month and Year Started as an SSS Member and Monthly Salary/Earnings.
3. Click Compute.

How to Compute your SSS Monthly Retirement Pension

SSS Calculator will then compute your Monthly Pension as shown below:

How to Compute your SSS Monthly Retirement Pension

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 
  1. at least 60 years old and separated from employment or has ceased to be an SE/OFW/Household Helper (optional retirement);
  2. at least 65 years old whether still employed/SE, working as OFW/Household Helper or not (technical retirement);
  3. at least 55 years old and separated from employment or has ceased to be an SE, if an “underground mineworker” (optional retirement);
  4. at least 60 years old whether still employed/SE or not, if an “underground mineworker” (technical retirement); or
  5. 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