#SSS #SSSPension #SSSRetirementBenefit
One of the 7 benefits you can enjoy being an SSS member is the retirement benefit or often times we call a pension. The amount you’ll get will depend on the number of contributions paid and the duration of being an active member.
There are two things you must do to be able to enjoy a higher benefit.
1. Increase your monthly salary credit prior to retirement. You may do it if you still have more than 5 yrs ahead of you before you retire.
2. Continue being an active member. Some say that you can stop paying your contributions after 5 years but to get a higher benefit, you must continue being a member.
Here’s a complete video to help you compute your SSS retirement benefit.
📖 You may also read our comprehensive article about this topic. Just follow the link below 👇👇👇
🔥🔥🔥 POPULAR BLOGS 🔥🔥🔥
➜Top 10 Life Insurance Companies in the Philippines
➜Sun Fit and Well Review: A Complete Guide to Perks and Benefits
➜Sun Maxilink 100: New and Affordable VUL Plan
➜The Best Affordable Term Insurance in the Philippines
➜How to Get a Certificate of Registration from BIR: Mixed-Income Earners
➜SSS Retirement Benefit is not Enough as Retirement Fund
➜How to invest in Pag-ibig MP2 Savings Program: Earn better than banks
➜5 Strategies to Get the Most out of Pagibig MP2
➜How to compute Pag-ibig MP2 dividends?
💰 FREE CASH FOR YOU!
Shopback: (Sign up and get Php100)
GCash: (Sign up and get Php70 worth of freebies)
🕒 TIMESTAMPS
00:00-00:39 – Introduction
00:39-01:29 – Disclaimer
01:29-04:03 – Terms and conditions
04:03-05:30 – How to use the SSS table?
04:30-07:10 – 3 formulas to compute for your SSS pension
07:10-08:46 – Example Problem
08:46-10:03 – Example Computations
10:03-11:10 – Let’s wrap it up!
11:10-12:08 – The average SSS pension thru the years
12:08-13:04 – Final thoughts
13:04-13:13 – Outro
Send this video to your family and friends if you find this helpful. Personal finance is not taught in schools that’s why it may become quite confusing. This channel will help you in your journey toward financial freedom, adulthood, or anything to help us become wiser in life. Don’t forget to SUBSCRIBE.
Social Media Accounts:
➜Facebook:
➜Facebook:
➜Facebook Group:
➜Blog:
➜Youtube:
📚 REFERENCES:
▷
🎁 SEND US A GIFT?
Attn: Federico Suan, Jr.
(Royal Poinciana Branch) 15F Frabelle Bldg. Rada St. Legaspi Village Makati City
⚠️ Disclaimer:
The video and description contain the creator’s views and opinions and do not necessarily reflect the views and opinions of any insurance or investment company. I will earn a small commission from the affiliate links above. It will help the channel grow and allow me to create quality content. This video is for educational purposes only. Please always do your due diligence.
—–
Keywords:
SSS, SSS retirement benefit, sss pension sss retirement computation, sss retirement calculator, sss pension calculation, sss retirement estimator, sss pension inquiry, sss monthly pension, sss pension calculator, sss pension computation, how to compute sss retirement pension in the Philippines, how to compute sss retirement benefit, how to compute sss retirement pension, thewiseguyph, TWGPH, The Wise Guy PH…(read more)
LEARN MORE ABOUT: Retirement Pension Plans
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
MAGKANO NGA BA ANG SSS PENSION MO? | HOW TO COMPUTE SSS RETIREMENT BENEFIT | TWGPH
Social Security System (SSS) is a government agency in the Philippines that provides social insurance, including retirement benefits, to private sector employees. Upon reaching the age of 60 (or earlier, if availing of early retirement), SSS members are entitled to receive a monthly pension to support their needs during their retirement years. This article aims to guide you on how to compute your SSS retirement benefit.
To determine the amount of your SSS pension, you need to consider several factors: your credited years of service, monthly salary credit (MSC), and the number of dependents you have. The formula for computing your SSS pension is as follows:
Pension = (Average MSC x 2% x CYS) + (AMSC x 10% x ND)
In this formula, Average MSC represents your average monthly salary credit for the last 60 months prior to your retirement date. CYS stands for credited years of service, which is the total number of years you have contributed to the SSS. AMSC refers to your actual monthly salary credit at the time of retirement, while ND is the number of dependent minor children.
Let’s break down the computation further:
Step 1: Determine your Average MSC
To calculate your Average MSC, sum up your monthly salary credits for the last 60 months and divide it by 60.
Step 2: Determine your CYS
CYS is the sum of all the credited years of service you have accumulated throughout your career. SSS requires at least 120 months or 10 years of contributions to qualify for retirement benefits. If you contributed for less than 10 years, you will not be eligible for a retirement pension but can still receive a lump sum amount.
Step 3: Determine your AMSC
Your AMSC is the monthly salary credit corresponding to your contributions at the time of retirement. This figure will depend on your actual salary and the range it falls under in the SSS Contribution Table.
Step 4: Determine the number of dependents (ND)
SSS provides additional benefits for qualified dependent minor children. You can claim an additional 10% of your retirement benefit for each eligible child, up to a maximum of five dependents.
Once you have gathered all the necessary information, plug them into the formula mentioned earlier to compute your SSS retirement benefit.
It’s worth noting that there is a minimum and maximum pension amount set by SSS. As of 2021, the minimum monthly pension stands at PHP 3,200, while the maximum is PHP 13,000. These amounts are subject to annual adjustments by the SSS Board of Trustees.
To ensure accurate computation of your retirement benefit, you can use the SSS website’s pension calculator or consult with an SSS representative who can assist you in assessing your pension claims.
Planning for retirement is essential, and having a clear understanding of how your SSS pension is computed is crucial. By knowing the factors and steps involved, you can better prepare and plan for your retirement years financially.
Remember, financial security during retirement is a result of smart financial decisions throughout your working years. So, start contributing to your SSS early and take advantage of the benefits it offers to secure a comfortable retirement.
New subscriber here,tanong ko lang kung papano computin ang makukuha ko na lump sum nagretire po ako ng 62yrs this May 2023.
nakakaiyak tong SSS, nagbayad mama ko 12 years almost 93k na yong total tas nung namatay ang lumpsum lang namin (independent kami kaya 1 time pay) eh 98k lang. Nakakapanghinayang super fishy, di man lang sila magbigay ng computation.
Sir paano makukuha Yung average salary sa msc at Amsc
Good pm sir, bakit di ko mapalabas Ang E Services Kong mag on-line po ako
Mahirap intindihin
sir may concern pala ako about my retirement …. gusto ko po sana iduscuss sa inyo, lumiit kasi ang pension ko…
Sir magkano matanggap ng pension sa 560 monthly
2500
OFW po ako, maraming taon po na nahinto ako mag-contribute sa SSS at recetly lang po ako nag-resume maghulog. Paano po pag-compute pag-maraming patlang sa contributions mo? Salamat po sa kasagutan!
hello po nagsumula ako mag sss nung work ako part time jollibee nung 1987. tapos nag abroad ako 1991 tapos di nako nakapaghulog uli sss. nag continiue ulit ako hulog noon 2004 until now. ilang years cys ko?
good day po tanun lng po sa edad 57 ngayon lng mag sisimula sss member ofw nasa alanganing na passible ban magkaroon ng retiremate pension
Sir tanong lang po 54yo na po ako at 43 pa lang ang total contribution ko .tinuloy ko lang po ang contribution ko nung 50yo ako.Kung balak ko po mag pension ng 60 or 65 yrs old makakatulong po ba ang 5 yrs maximum contribution before mag start ng pension. Ano pong age dapat simulan mag maximize ang hulog .Sana po masagot ang tanong ko.Salamat po!
Diskarte para mlaki pension sa sss hulugan mo yung pinaka mababa.. Hlimbwa yung 15 years hulugan mo n mbaba tas yung last 5years more i maximum mo bli 20 years lhat..ngbabase yung sss sa last 5years contribution sa formula nila… Yung 20 years n nghulog ng maximum prehas lng kyo ng pension.
New subscriber po here ,tnx for sharing npka informative & more power to ur channel !
Pano paggulang naihulog k senior nk 88 lng nahulog k
Sir pareply naman poh plz. Panu poh ako may 19months palang na hulog. Unang hulog ko 3mos voluntary minimum 330/month. Tapos 16mos naman 1.2k/month Employed. Tapos ngayun gusto ko ipagpatulog as voluntary pero gawin kong 1k monthly tapos plan ko 20years. Then sa last 5years ng contribution ko i max ko 1.5k monthly. May pagbabago ba sir? mkukuha ko ba max pension ko in the future? Salamat sa sagot
Sir gd afternoon, Ang contribution ko sa sss ay nasa 10,000 salary credit, may 481 monthly contribution na Ako,magretire Ako ngayong February 2023,pls tulungan mo Naman Ako magkano Ang stimated monthly pension ko,maraming salamat po
Hello Po 650 monthly contribution ko , how much Po kaya maging pension ko pag 60 years old na ko ? Slamat
What if, i had previous contribution total of of 69 months 5 years fr now. , then i am currently OFW and i want to continues my sss by voluntary contribution did sss add this previous contribution?
Kapag po ba laktaw laktaw ang hulog magkakapension pdin po ba? Tnong ko lng yn pra sa nanay kong mlpt n magsenior
2800 Po monthly ko hm Po kaya
Parang may loophole sa formula lalo sa mga voluntary.ang magiging goal na lng is to make the last 5 years contributions under ng maximum asmc.dahil ang asmc ay base sa last 5 years contribution, ang mangyayari is ang naghulog ng 10 years at ang naghulog ng 15 years, same lng ng makukuhang pension.
Example Person 1: year 1-5 min asmc, year 6-10, max asmc ,
Pension computation will be( 0.4 x max asmc) +1000
Person 2: Year 1-10 min asmc, year 11-15, max asmc
Pension computation will be same as Person1 dahil hindi pwd gamitin ang other formulas dahil mas mababa ang result.
Mas malaki ang hulog ang Person 2, pero same lng cla ng makukuha ng Person 1.
Thank you for sharing, May question ako regarding s pag compute ng CYS. If i started 1985 to 2020. Magkaiba b yung computation for year 1985 to 2001 and year 2022 to 2020? Nalito lng ako ng slight…hehehe. Salamat ulit
Question po. Nagfile me ng 3rd form for disability. Same suckness. Last me nktanggap 2021 jan. D me nkpagaply agad. Dahil pandemic. Maraming restrictions. Nkpagpasa me last june 2021. Kaso mali ang form n nppirmahan. Dahil yon angnkattach na form. Delay again. Di ko agad maasikaso. Now naprubhan last may 2022. Tanong ko lang po bakit ganon. Samantalang naudlot ang filing ko dahil sa pandemic. Me lang magisa nagfile at wl nman me mkksama. Nadeclare n total disability ako. Hindi ba dapat kung kailan last date jan 2021 ang start. Same sickness.
Tanong ko po sir kung katapos na mag hulog sa sss pension lang ba yung makukuha mo?
correct me if im wrong , ang amount na binabayaran ko which is 1625 pesos , ay yan din ang amount ng pension na makukuha ko pag ka retire?
if so , bakit pa ako mag contribute kung same amount lang naman pala. Might as well deposit it in my bank account with interest
New subscriber here☝️
Please discuss pension comparison of GSIS vs. SSS. Considering a gov't & private sector worker with same age, both earning the same monthly salary.
tnx sa video! FYI. meron na pong Simulated Retirement Calculator sa SSS website.
Sir, paano ang computation ng early retirees (55 y.o. but not a miner/horsejack)? Hindi na nagtrabaho after 55. At age 60, upon filing of pension, alin mga months ang gagamitin to compute the AMSC? 60 months prior to semester of contingency at 55 or at 60? If 60 kasi, zero contributions yun.
ask ko lang po, yung nagbabayad po ng maximum from the start vs yung nagbabayad po ng minimun in the start then maximum for last 5 years/60 contributions, same lang po yung makukuha nilang pension pag nagretire? Salamat po
Tanong ko lang po, advisable po ba na sa last 5 years/60 contributions po mag hulog ng maximum na AMSC? Kasi base po sa computation nyo, last 5 years po ang ginamit nyo. So naiisip ko po na maghulog po muna ako ngayon ng mababa tapos sa last 5 years po yung maximum na huhulog ko.
Kung self-employed member po ako, pwede po ba ako maghulog ng minimum for five years then maximum na hulog for another 5 years (then afterwards mag stop na po ko maghulog since naka 120 month contributions na po ko), then gagamitin ko po yung 3rd formula na 40% of AMSC to compute for my pension? That way po bale minimum ambag for maximum benefit. Possible po ba to?
may ittanong lng po sana ako baka po may idea kayo about sa change of birth year ng nanay ko na senior mag 3months na siya hindi pa din napapalitan ang pagkakaalam po kasi namin is 2months lang ok na bakit po kaya ganun ka tagal salamt po sa sagot niyo
Pls help me Sir bakit 7k lang pension ko na highest contribution ko.
Thank you sir sa formula. Itried to plot it in excel and simulated 2 cases. Case 1 is AMS 3000 (minimum), CYS =40: Case 2 is AMS 20000 (max), CYS = 40. Results, for Case 1: 68.7% income after 10 years of pension, 237% naman after 20 years of pension. Case 2: 24% income after 10 years of pension, 148% after 20 years of pension. Why po mas maganda paatasin yung AMS? Yes mataas yung pension per month ng Case 2 vs Case1 pero mataas din total hulog after 40 years. Maybe its better to copy case 1, meaning minimum hulog, max CYS then yung remaining money na for max hulog sana gamitin sa other good investment tools like MP2.