Steps to File for Retirement Claim via My.SSS Portal.
- Log in to the SSS Member Portal. After a successful log-in, you’ll be taken to the My.SSS Portal Home page.
- Click Electronic Services.
- Click Retirement Application. This will take you to the Online Retirement Benefits Application page.
- Check your profile and employment history. Contact the SSS if you find any inaccurate data.
- Answer the questions and follow the instructions on how to proceed with your application.
- Gather the information and documents you need to apply.
- Complete and submit your application.
- We review your application and contact you if we need more information.
- We mail you a decision letter.
- You start receiving your retirement benefits.
How to find out SS Benefits?
While the monthly Social Security benefit you're entitled to in retirement will be based on your personal earnings history, there are steps you can take to eke more money out of the program. In fact, one savvy move on your part could result in a 24% boost to your benefits -- for life. © Getty Images A smiling person holding a pug.
How do you calculate SSA benefits?
- The SSA starts with $735.
- The only income you receive each month is $400 from a part-time babysitting job.
- The SSA ignores the first $65 of that each month, as well as half of the rest. ($400 – $65) x 0.50 = $167.50.
- So the SSA deducts the remaining $167.50 of your babysitting dollars from $735.
- You receive a grand total of $567.50 for SSI.
How to file for SSS Funeral Benefit claim online?
- Prepare complete requirements as stated above. ...
- Go to the nearest SSS Branch and secure your queue number. ...
- Once your number is called, go to the SSS Representative window and they will perform initial evaluation on your claim and requirements.
- Once application is received, wait for the SSS to contact you. ...
How do I apply for SS retirement?
- Gather the information and documents you need to apply.
- Complete and submit your application.
- We review your application and contact you if we need more information.
- We mail you a decision letter.
- You start receiving your retirement benefits.
How can I get my SSS 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: at least 60 years old and separated from employment or has ceased to be an SE/OFW/Household Helper (optional retirement);
When can I apply for SSS retirement?
SSS portal on or after a specific month when his/her paid contributions for at least 120 months are prior to the semester of retirement, in order to qualify for pension benefit.
How can I check my retirement?
To track other resources you may have in retirement, start by getting your Social Security statement and an estimate of your retirement benefits on the Social Security Administration's website, www.socialsecurity.gov/mystatement.
How much is the SSS retirement benefit?
The minimum monthly Retirement Pension is P1,200 if the member has 120 months contribution or at least ten (10) CYS; or P2,400 if with at least 20 CYS.
How many years do you have to work to get full pension?
You will usually need at least 10 qualifying years on your National Insurance record to get any State Pension. You will need 35 qualifying years to get the full new State Pension. You will get a proportion of the new State Pension if you have between 10 and 35 qualifying years.
How do I withdraw money from my retirement account?
Wait to Withdraw Until You're at Least 59.5 Years Old By age 59.5 (and in some cases, age 55), you will be eligible to begin withdrawing money from your 401(k) without having to pay a penalty tax. You'll simply need to contact your plan administrator or log into your account online and request a withdrawal.
What are the 3 types of retirement?
Three types of retirement and how to plan for eachTraditional Retirement. Traditional retirement is just that. ... Semi-Retirement. ... Temporary Retirement. ... Other Considerations.
How can I check my SSS pension online?
Pensioners can check the SSS website (www.sss.gov.ph) for a list of SSS branch and foreign offices with their respective e-mail addresses. This method is applicable for survivor pensioners, dependent children and their guardians, and pensioners residing in the Philippines.
What is SSS retirement?
The SSS Retirement Benefit is a cash benefit paid either in monthly pension or as a lump sum to an SSS member who can no longer work due to old age.
How many months do you have to contribute to SSS?
The SSS member must have at least 120 months contribution upon prior to the semester of application to qualify in the monthly pension. Lump sum amount – is a one time payment granted to a retiree, if he/she hasn’t reached the required 120 monthly contributions.
What is 18 months advance pension?
What is the 18 th months advance pension? A retiree has the option to receive in advance the first eighteen (18) months pension in lump sum, discounted of a preferential rate of interest to be determined by the SSS. Intent to receive the 18 month pension in advance should be declared during retirement claim application.
How much is dependent allowance?
The legitimate, legitimated or legally adopted, and illegitimate children, conceived on or before the date of retirement of a retiree will each receive dependents’ allowance equivalent to 10 percent of the member’s monthly pension, or P250, whichever is higher. Only five minor children, beginning from the youngest, ...
When is a 13 month pension payable?
The retiree is entitled to a 13th month pension payable every December. All retiree pensioners prior to the effectivity of RA 7875 on March 4, 1995 are automatically considered members of PhilHealth and, along with their legal dependents, are entitled to PhilHealth hospitalization benefits.
What is the retirement age for underground mine workers?
However, for underground mine workers, optional retirement age is 55 and technical retirement age is 60. A member who is 60 years old and above, but not yet 65, with 120 contributions or more may continue paying as a Voluntary member up to 65 years old to avail of the higher amount of benefits. If a member has less than 120 monthly contributions ...
When does dependent allowance stop?
The dependents’ allowance stops when the child reaches 21 years old, gets married, gets employed, or dies. However, the dependents’ allowance is granted for life for children who are over 21 years old, if they are incapacitated and incapable of self-support due to physical or mental defect that is congenital or acquired during minority.
Apply for Retirement Benefits
Starting your Social Security retirement benefits is a major step on your retirement journey. This page will guide you through the process of applying for retirement benefits when you’re ready to take that step. Our online application is a convenient way to apply on your own schedule, without an appointment.
Ready To Retire?
Before you apply, take time to review the basics, understand the process, and gather the documents you’ll need to complete an application.
How old do you have to be to apply for SSS?
Online applications of employee-members, at least 60 to 64 years old, with contributions before or up to the month of retirement must be certified by their latest employer through the employer’s My.SSS web account. If not, the retirement claim won’t be processed.
Is SS number canceled?
Member’s SS number is not canceled. Member’s does not have outstanding Stock Investment, Privatization, Educational or Vocational Technology loan balance. Member has no dependent child/children. Member is not an underground/surface mineworker or racehorse jockey; Member is not a self-employed member below 65 years old.
How long does a secondary beneficiary have to be on a pension?
Pensioners with no primary beneficiary who dies within 60 months (5 years) from the start of the pension, the secondary beneficiary will receive a lump sum equal to 5 years of monthly pension, excluding the dependents’ allowance. pxhere.
What happens if you retire at 65?
if you are less than 65 years when you retired and you resume work again, and still not up to 65 years of age, your pension will be suspended until you are 65 years furthermore your sss contribution will resume. Mineworkers and horse jockeys are exempted.
What is the retirement based on?
The retirement benefits received will be based on the total amount contributed over time plus interest. Here are the two ways you can receive your retirement benefits under these qualifications:
Can Filipinos retire from overseas?
Regardless of how long they have been living abroad, Filipino immigrants and Overseas Filipino Workers (OFWs) are still Filipinos who are entitled to their SSS Retirement benefits. That said, it means that under the law detailed in the Section 15 of the 1997 Philippine SSS Law, RA 8282, SSS will pay their benefits without regard to nationality ...
Can you file for retirement at age 65?
YES. For Voluntary Members (VM) and OFWs fi ling for a retirement claim, a Certification of Separation from Employment or Cessation of Business or Self-Employment or Certification of No Earnings is no longer a requirement if they file before reaching the age of 65.
