SSS Retirement Benefit is not Enough as Retirement Fund

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sss-retirement-benefitSSS retirement benefit or pension as they normally call it is one of the few benefits employees are entitled to receive when they retire. So before you empty your savings going all YOLO (You Only Live Once) and FOMO (Fear Of Missing Out) craze you may want to consider how much you’ll be getting from SSS by the time you’ll retire. Are you ready to know how small much it will be?

Yes I know, I also suddenly felt like a certified tito like how they call it now because of all these acronyms. Lucky me there’s Google to provide me the info haha!

SSS Retirement Benefit (Quick Links):

1. Know Your SSS Contribution Table
2. 3 Simple Formulas to Compute Your Pension
3. Sample Illustration
4. Conclusion

UPDATED (2019): This post is revised based on the newly passed R.A. 11199 or “Social Security Act 2019“.

READ: New SSS Contribution Schedule 2019 | Bigger and Better Benefits

Know Your SSS Contribution Table

I’m going to teach how to read the table below. Yes, I know how you despise seeing this kind of table so do I hehe. Sadly, this is needed in order for you to compute your monthly pension.

SSS contribution table 2019SSS contribution table 2019 for OFWs and kasambahay

The table above is taken from the official website of SSS

Let’s begin with the range of compensation. This is just your basic monthly salary in which the remaining components are based on. Monthly Salary Credit (MSC) is the median of the range of compensation. It’s also good to note that the maximum MSC is only set at 20,000. The contribution rate on the table is at 12% of your monthly salary credit which is being shared by you (4%) and your employer (8%).

I know you need an example so this is what you are waiting for. If an employee has a salary of Php 25,000 per month then his MSC is pegged at Php 20,000 only. Remember that it is already the maximum MSC in the table, right?

Average Monthly Salary Credit (AMSC) is computed based on the last 5 years of service.
Credited Years of Service (CYS) is the total number of years your SSS contribution is paid. One CYS is equivalent to at least 6 months paid contribution in any given year.

3 Simple Formula to Compute Your Pension

After knowing the terms, you can finally compute for your pension. SSS provided three formulas an employee like you can use to compute for your pension. Because there are three formulas, you will also get three answers and whichever is the highest among them will be your monthly pension.

Pursuant to Memorandum from the Executive Secretary in 2017, by authority of the President, an additional Php 1,000 shall be given to all pensioners.

sss-retirement-benefit-formula

The three formulas remain the same as per R.A. 11199 plus Php 1,000 for all SSS pensioners.

The first formula will give the highest amount if you’re planning to work for a very long time. Notice the 2% addition to your pension for every CYS when you surpass the 10 years mark. The second formula is something you don’t even want to have as your pension, right? Come on, even that ₱2400 plus Php 1,000 will not be enough for your maintenance medicine. The last formula, however, is very straightforward and easy to compute.

Sample Illustration

With all the formulas presented you might feel the need for an example so I decided to add one. In this example, Mr. Wise started working at the age of 20 and he is planning to retire when he reaches the age of 60. His salary for the last 5 years is ₱60,000. Can you help him in computing his pension?

Given:

CYS: 40 years (started working at 20 and plans to retire at 60)
AMSC: ₱ 20,000 (this is the maximum MSC regardless of his salary)

sss-retirement-benefit-computation-2019

The following values are attained based on the new SSS contribution table for 2019. This is for illustration purposes only as it will be different in the coming years.

If you’ll look at the figure above, formula #1 provides the highest amount which means that this is the pension Mr. Wise Guy will get starting at age 60.

Suan, malaki-laki na din pala yung pension sabi mo maliit lang.

A good thing to note is that the amount was calculated from 40 years of credited years of service. If you are planning to have an early retirement then your pension will be lesser. Personally, I don’t want to work for that long. I want to enjoy life and spend more time with my family. If you are like me then a pension of ₱17,300 is pretty impossible knowing I’m not planning to work for that long.

Average SSS Retirement Benefit

Do you know the average pension retirees get? The illustration above is just an example so don’t be excited yet. The following is the average SSS pension throughout the years and you’ll be alarmed from knowing that it may not be enough to sustain a living.

2012: ₱3,707
2013: ₱3,577
2014: ₱3,792
2015: ₱3,780
2016: ₱3,658

Can you get over with those digits? These are only averages so you must keep yours on top of it but if you don’t and settle with those numbers then your retirement will be doomed. So how can you level up the game and secure your future? Simple, you must have a contingency plan. Don’t just settle saving your money, you must also invest to beat inflation.

READ: Sun Maxilink Prime | The Best Selling VUL Plan from Sun Life
READ: Sun Maxilink One | Earn Better than Banks

Conclusion

While SSS provides a good retirement benefit. You should not rely on it solely if you don’t want to struggle financially during your golden years. Consider investing your money in a mutual fund, UITF, VUL plan, etc. that will not only beat inflation but also provide you a comfortable retirement you deserve.

Want a FREE Financial Planning Session? Contact me thru the following options.

Engr. Federico Suan, Jr.
Financial Advisor
Sun Life of Canada (Philippines) Inc.
15th Floor Frabelle Building
Rada St, Legazpi Village Makati City
Philippines
Landline: (02) 705-9666
Mobile/Viber: 09177758352
Email: federico.l.suanjr@sunlife.com.ph

*****

151 comments… add one
  • DR.DICK DICK E.ORENSE, ED. D. Link Reply

    I would like to know how to maximize my monthly pension of around 4,400 pesos.
    I believe this is not enough since I am buying my regular medicines plus my daily food consumption.
    Please help. I probably need an extra job, don’t you think so?
    Thank you.
    Best.
    DICK E. ORENSE

    • Federico Suan, Jr. Link Reply

      Hi Sir Dick. I’m sorry to hear that. By the way, I removed some sensitive info about you. If you can still do an extra job then do it po. With the rapid increase in prices of goods, it’s quite challenging to retire these days. Hopefully, you can come up with something to help you with that. Thanks!

  • Reynaldo D Vega Link Reply

    Hi! I’m 62 y/o and employed to a private company for 21yrs & 17days recieving the salary of 70k. My ER 1,178.7/ EE 581.30/ EC ER 30 total of P1,789.37. How much is my total retirement benifits?

    • Federico Suan, Jr. Link Reply

      Hi Sir Reynaldo. Based on the information provided, your projected sss pension is only Php7,020 using the first formula which is also the one that yields the highest amount. It’s just around 10% of your monthly earnings. I hope it helped you po. Thanks!

  • Teddy Mercado Link Reply

    Good afternoon Mr. Suan Jr,

    I am 66 yrs old in Oct & currently living in the USA. I am a Fil citizen and contributed about 12 years to SSS. My last five years salary was about php13k-14k in 1996, can you please give me an estimate of my possible SSS ret benefit?

    Also I had a salary loan of Php5k that ballooned to about 80k now incl interest and penalties. Do they still have the “forgiveness program” if so until when?

    Thank you very much for your assistance.

    • Federico Suan, Jr. Link Reply

      Hi Sir Teddy! Based on the info provided, formula 3 yields the highest at 5200 per month of pension. Because you have an outstanding loan in SSS you must know that they will deduct it fully from your benefits. Please see the excerpt below which comes from the SSS Guidebook. Thanks!

      All unpaid short-term member loans of members claiming for a retirement benefit, whether or not the term of payment has expired as of contingency date, shall be deducted in full from the proceeds of the benefit payments. The date of contingency shall be the cut-off date for charging interest and penalty. Also to be deducted are overlapping sickness and partial disability benefits if any. If there is overpaid pension due to dependent’s death, employment or marriage, these shall also be deducted from the monthly pension.

  • Ben P.Lojo Link Reply

    im working for 31 yrs,my salary is almost 80k.how much is my pension if I retired

    • Federico Suan, Jr. Link Reply

      Hi Ben. Assuming that you don’t have a loan from SSS, formula #1 will yield the highest amount which is Php 10,220. This may change on actual contributions made. You may coordinate this to the nearest SSS office in your area. Thanks!

  • Oscar C. Ramos Link Reply

    Good day Sir,
    I started working at the age of 22 up to present. However, there were years that I don’t have a job, so no SSS contribution. But my CYS is more than 10 years and my MSC is 16,000.
    How do we compute my retirement pay?
    Also, how do we compute lump sum amount?

    • Federico Suan, Jr. Link Reply

      Hi Oscar. Lump Sum is only available to those who made 36 and below contributions but if you paid more than that you may choose to get the first 36 months of your pension. However, your pension will resume on the end of 3 years.

  • Gerald Pecaoco Link Reply

    Dear Mr. Suan,

    Hi and hello thank you for your info. I just want to clarify regarding sss benefits. Me and my wife are both OFW here in Saudi Arabia. We pay 1045php a month contibution each. But some of my Friends advise me that for pensions purposes. It is more economical and wise to pay the lowest possible contribution in your early years (550php for example on my first years) and maximize it during my last 5 years (60 mos.) before retirement. by the way i am 32 yrs old. Please guide me and other OFWs regarding this matter. Because read some comments that weather I pay low or high during my early years I will get the same amount. Thank you and God Bless.

    • Federico Suan, Jr. Link Reply

      Hi Gerald. That’s actually true that pension will be calculated from your last 5 years of contribution. If you’ll ask if that’s wise? It’s obviously is if you’re looking at the pension alone. BUT if you’ll maximize everything such as maternity benefit for your wife, accidental benefit, personal loan, death claims, etc. then it’s not because those will be computed from your last 5 years starting from the day you file these claims.

      If you and your wife have a personal life insurance then you may consider doing that.

      I hope I made it clear hehe

  • Antonio Link Reply

    Thanks for question and answer section. I learned a lot from this conversation.

    • Federico Suan, Jr. Link Reply

      You’re most welcome Antonio. Hope you can read my other posts. Thanks!

  • Annabelle C. Dela Cruz Link Reply

    Ask q lng po mgkano po ang pension sa 120 contributions lagi pong naka maximum ang hulog since i started po pero meron akong 1 contribution na 550 lng po nong wala akong work? Isa po akong ofw. Thanks & more power po.

    • Federico Suan, Jr. Link Reply

      Hi Annabelle. It’s 6,400 from formula 3 but this is just an approximation and may change based on actual contributions made. Thanks!

  • Addy Link Reply

    Hi, yung mother ko 66y/o but her contribution at the moment ay 96 still continue pa namen hinuhulugan yung sss niya, 330/mo. Any suggestion do we have to continue pa or not? and how much ang retirement benefit if possible? Thank you in advance

    • Federico Suan, Jr. Link Reply

      Hi Addy. What I’ll tell you is only to the best of my knowledge. She can apply for the pension already as she reached the age of retirement (SSS) which is 60 years old. Also, her contribution is over 36 months so she’s eligible to stop and claim for a monthly pension. Please kindly use the three formulas, whichever gives the highest amount will be her pension. Thanks!

  • Russel Anne Reyes Link Reply

    hello po. my mother is 55 yrs.old this year. once lng po sya nakapaghulog sa SSS nya. So if ever iko-continue as voluntary contribution,or start sya maghulog this year, how much po yung dapat nya ihulog monthly? if ever 1,000.00 in 120 months. magkano po makukuha nyang pension? thank you.

    • Federico Suan, Jr. Link Reply

      Hi Russel. I’m not from SSS so I can’t really tell that. Because your case is specific, you may go to your nearest SSS in your area. Thanks!

  • marites guieb Link Reply

    hello sir may i ask how much will my father be getting monthly pension when he reach his 60 , and he pay for 1045 monthy premium payment for 120 months

    • Federico Suan, Jr. Link Reply

      Hi Maritess. Based on the formula number 3 his pension is Php 3,800. Again, assuming that he paid the 120 months with a contribution of Php1045. Thanks!

  • Maui Link Reply

    Hello Sir. Saan ba bina-base ang MSC sa Formula #1? Is it the same sa AMSC (meaning on your last 5 years of service din)? Thank you.

    • Federico Suan, Jr. Link Reply

      Hi Maui. I believe it’s based on your current/last contribution if your contribution is on maximum then your MSC is 16k. While AMSC is based on the last five years not necessarily 16k for the example. Thanks!

  • Lanie Link Reply

    Sir! Magtatanong lang po. Pag po nkapaghulog lang ng 120 months at maximum 1760 as voluntary member mga magkano po kaya ang nagiging pension ko? At ano po ang best para po mas lumaki pa ang pension ko kung 60 yrs old na po ako.Salamat po!

    • Federico Suan, Jr. Link Reply

      Use formula 3 Lanie. This will give you a pension amounting to 6,400. Thanks!

  • Jhun Link Reply

    Hello Sir! Thanks for the very helpful info. I hope you can help me with my queries too. I had stopped my contributions after 2 years of employment in Philippines which was way back 2008. I continued my contributions at P1,760 two months ago. My questions are: Is it advisable to pay the lower contributions which is P550 and go for the highest one when I’m 55 years old? Am I allowed to downgrade my contributions from P1760 to P550? BTW I am 45 years old and an OFW. Thank you in advance.

    • Federico Suan, Jr. Link Reply

      Hi Jhun. If financially sufficient ka until age 55 then pwede mo yan gawin. Pero keep in mind kung ano yung pwedeng mangyare sa’yo from age 45 to age 55. How sure are you na healthy ka pa nuon? How sure are you na di ka maaksidente or mamatay? Ang morbid pero isa yan sa mga dapat mong iconsider. Malaki nga yung matitipid mo kung sakali pero paano kung kailangan mo siya ng mas maaga? Ang mangyayare niyan kung ano yung last 5 years duon mag base ng computation. At dahil nga maliit yung hulog, maliit lang din ang makukuha mo o ng pamilya mo should anything happen to you. So in the end strike a balance na lang siguro between mura and being realistic na din. (Actually di pwedeng mag-downgarde). Thanks!

      • Michael Link Reply

        Hello Bro, I’m an OFW and currently exploring the SSS online website. I am paying yearly with P1,760/month, so the total would be P21,120/year, I came up with this by generating the PRN/SOA via the website. Then, I just tried to generate choosing P1,045 as the premium per month and it kicked in, total amount is P12,540. So it means it’s possible to downgrade or I can just choose whatever amount/month I want to pay to SSS.

        • Federico Suan, Jr. Link Reply

          Hi Michael. This was out of my knowledge but previously they do not allow this kind of arrangement. I checked the SSS website and according to the SSS Circular 2015-007 about the changes in SE/VM/OFW/NWS contribution. You are allowed to lower your contribution without frequency and bracket limit if you are below age 55. The story is different if you are 55 and above because you’ll only be allowed to increase your contribution one bracket per year. Thanks.

  • Marvin Link Reply

    Ask ko lng po kakahulog ko lng po ngayon bale nahulog po ako for 3 months til dec 2018 pede n po b ako mgapply ng sss id

    • Federico Suan, Jr. Link Reply

      Hi Marvin. Free naman yung first ID mo. So yes, need lang naman is yung E1 mo. Thanks!

  • cesz Link Reply

    hi there! found this informative site. really helpful!

    i was employed continuously for 8 years, hence SSS is paid faithfully during that time, I resigned and stopped paying for 3 years, then resumed again now, as a voluntary member – on to my 7th month payment this year…
    but im planning to just meet the 120 contributions reqd for the retirement benefit (and maybe just add another year pa) and then stop na ulit… (because I don’t think SSS will survive that long anyway… I’m just 32 so that’s roughly 30 years before retirement claim)

    so in case SSS doesn’t go bankrupt in the next 30 years… fast forward to 2048… do you think the 3 years gap I had will have an effect on my contributions? coz the AMSC is computed based on the “last 5years” right?

    • Federico Suan, Jr. Link Reply

      Hi Cesz. I believe that 3 years gap won’t have an impact if we are just looking at your retirement benefit at age 60. Thanks!

  • Lee Link Reply

    Let’s say I can only pay for 20 years. Comparing formula 1 and 2, formula 2 still gives higher pension. I was thinking that if I only want pension benefit then it is wise for me to pay only 120 contributions with the last 5 years at the maximum monthly contribution which is 1,760 (for OFW and voluntary) to get 6,400 monthly pension.

    • Federico Suan, Jr. Link Reply

      Hi Lee. If you are asking me if that is wise then I must say that it is BUT SSS do not allow reducing your contribution. This means that if you are already paying the maximum contribution then won’t be able to reduce it to the minimum (sorry for that). If you are just about to start contributing then you may do it.

      This I would like to ADD, most of you would like either pay the minimum and then pay maximum contribution on the last 5 years or just pay ONLY for 10 years. However good to you, this has a negative implication to the SSS fund. Imagine what will happen if most of us will do that? As early as now SSS fund has a short lifespan and if cash coming in become low then it will be cut even more. Instead of thinking about contributing less, I suggest continuing contributing to the more appropriate amount. After all, if SSS funds become insufficient you may not able to enjoy the benefits and execute your plan.

      Thanks!

  • bernadette Link Reply

    I am completing my SSS 120 months by April 2019. For the last 5 years, I pay the maximum MSC. In the early years, MSC was not 16K but around 11K but still , I pay whatever is the maximim contribution asked for. Now I am 62 will be reiting when I am 63 which is next year. May i have an estimate based on this data? salamat

    • Federico Suan, Jr. Link Reply

      Hi Ms. Bernadette. Please kindly use formula 3. This will result in the amount of Php 6,400 per month. However, it may still change based on your advances or loans in SSS if there’s any. Thanks!

  • This yr. 2018 i fully paid my sss ,,im on my 162 months already,,my latest contribution is 650.00. I will continue my contribution , this january 2019 one step forward which is 715.00 until i get my 200 months,,,im 55.y.o now….by year 2021 ill be in my 15 years CYS..how much will i get on my monthly pension when im 60 y.o

    • Federico Suan, Jr. Link Reply

      Hi Elsa. Your case is a lot harder to compute but just to be sure. Please kindly go the nearest SSS branch in your area to assist you. Just a rough estimate as I really don’t know how much you did exactly pay but it will be around Php 2,500 using formula #3. Thanks!

  • Angelito Gonzales Link Reply

    Hi Sir,
    My salary is 105k per month, I am 37 yrs old how much is my monthly contribution and how much my monthly pension when becoming 60yrs old?

    Thanks

    • Federico Suan, Jr. Link Reply

      Hi Angelito. The info you provided is very limited but I believe you can manage to compute it yourself using the three formulas I was talking on my post. Thanks!

  • Catherine A. Paden Link Reply

    Sir! Good day, Magtatanong lang po. Pag po nkapaghulog lang ng 120 months at 440 pesos lang po monthly as voluntary member mga magkano po kaya ang nagiging pension?

    • Federico Suan, Jr. Link Reply

      Hi Catherine. Using formula 3, it’s Php 1,600. Thanks!

  • Q.soda Link Reply

    Ask ko po, Im self employed ofw and I contribute around 1750 to sss monthly. My monthly salary is 60k, I filed my retirement application and saw my Basic monthly pension is only around 5252, can someone explain this to me? Thank you

    • Federico Suan, Jr. Link Reply

      Hi Q.Soda. You can ask your SSS branch to be sure. Assuming you read my blog, the pension is calculated from the 5 years of contribution with the max salary credit of 16,000. Probably you paid some of the months less than the maximum contribution. Even if you paid for maximum contribution during the last 5 years it will only give you Php 6.4k per month nothing much of a difference.

      Being an OFW is not a forever thing. You must also prepare for it. Save because it’s a must and find other things that can give more value to your money like investing in the mutual fund, UITF’s, insurances, and so on.

      READ: Sun Maxilink Prime | The Best-Selling VUL Plan from Sun Life

      I hope you’ll secure your future while you can. Thanks!

  • Rogie Link Reply

    Sir may konting katanungan lang po. Pakicompute lang po yong 10yrs versus 19yrs na sss contribution. Same AMSC P16000 yong maximum na po yan. Parang halos same lang yong makukuha na pension. Saan napunta yong 9yrs na dagdag?

    • Federico Suan, Jr. Link Reply

      Hi Rogie. That’s actually a very good observation. Intersection yun ng dalawang formula. So meaning kailanganiin mong mag contribute ng more than 19 years para mas maenjoy mo yung SSS pension. Kaya mahirap kung SSS pension lang ang meron kapag nagretire. Retirement planning should start as early as possible. Thanks for your insights.

    • Hi Rogie

      Same observation here. I simply can not believe this. It must be a flaw. It’s against all logic. I guess that this flaw will be rectified soon? By the present government for example?

      Chris

  • Elsie Link Reply

    Hi im 50 yrs old and start contribution since i am 20 yrs old and stop at 48 yrs old, my highest contribution is 1,705 employee employer, how much pension i will get at age 60

    • Federico Suan, Jr. Link Reply

      Hi Elsie. The information you provided is quite limited. Assuming that your last five years of contribution is at Php 1,705 then your pension may be pegged at Php 8,980 per month. I hope it can help you. Thanks!

  • Margaux Link Reply

    I’m sorry if this sounds very stupid….. But what if my monthly salary is more than P25,000 per month and I am willing to pay more than P1,760 per month until I turn 60 years old? Is there an option for that? Like what if the person is willing to pay P5,000 month for 25 years? How much will my pension be at 60 years old?

    • Federico Suan, Jr. Link Reply

      Hi Margaux. No it’s not allowed. However you may try investing your extra money in SSS PERA and Pagibig MP2. Try searching them or you may consider getting an insurance plan, investing in stocks and mutual fund etc. Thanks!

  • Rommel Fernandez Link Reply

    Good day sir, tanong lang po, trabaho as OFW, ang hulog per mo. 1700 pero pagbakasyon ng 3 mos. walang hulog, contrbution ko 220 mos. according to total contrbution months..na compute ko more or less 370k, but nag loan ako ng 45k na including interest. mag retire na ako nitong 2019,,,, magkano po ba pension ko per mo…

    • Federico Suan, Jr. Link Reply

      Hi Mr. Rommel. You may visit a SSS branch to assist you with this. Thanks!

  • Jorge Pawee A. Duran Link Reply

    Question po.. aside sa monthly pension when you retire.. may makukuha po ba na any amount?

    • Federico Suan, Jr. Link Reply

      Makakuha ka lang ng pension if you are qualified. If qualified ka nga then pension yung marereceive mo monthly or pwede ka din Jorge na mag lumpsum ng first 36 months. Thanks!

  • Yem Link Reply

    Good day Federico!
    My case is a lot different from all i have read.
    Prior to my employment in government service, i have worked in a private firm which did not remit to SSS which was deducted from me. anyway, I’m now 59, i have made only 10 contributions (min 756php) until year 2000, i want to continue the contribution, is it wise to do it? please advise. thank you for your time.
    Thank you so much Federico for your

    • Federico Suan, Jr. Link Reply

      Hi Ms. Yem! I think it is still wise to pay the last one year BUT you won’t be eligible for a pension. What you will get is a lump sum. Thanks!

  • francis Link Reply

    Can you please send me some info on sun life investment?

    • Federico Suan, Jr. Link Reply

      Hi Francis. Actually, you can go to my homepage and all the things you need to know are already there at a glance. I hope you are enjoying the holidays. Thanks!

  • Charmie Link Reply

    Good day po, voluntary member/OFW ako ask ko lng how much ung computation ng pension ng 120 months (5 yrs 520/mos & 5 yrs 1100/mos ang hulog?

    • Federico Suan, Jr. Link Reply

      Hi Charmie. You can use the three formulas. It’s actually fairly easy to do 🙂

  • Jane Link Reply

    Hi!

    If my contribution is 1,770php monthly x 240 months, magkano ang aking pension when I turn 60yo?

    • Federico Suan, Jr. Link Reply

      Hi Jane. You can use the 3 formulas I tacked earlier. Another factor you did tell is the duration from today until you turn 60 yo. Actually, you can do it yourself you just need an ordinary calculator and your set. If you’re still having difficulty just let me know. Thanks!

  • EDGAR VILIRAN Link Reply

    Hi, magkano kaya ang highest monthly possible pension sa SSS at magkano ang lumpsum nito? Salamat. Sobrang helpful ng blog!

    • Federico Suan, Jr. Link Reply

      Hi Edgar, kung nagtratrabaho ka na at age 18 at magreretire ka at age 60 with AMSC na 16k then ang maximum pension will be Php13,740. Thanks!

  • Magkano po makukuhang pension voluntary lang po 275 monthly then 2 years hulog 330 pesos na walang pong utang sa sss

    • Federico Suan, Jr. Link Reply

      Hi Ms. Evelyn. I think it’s too early to calculate your pension. But if you really want to know you can use the 3 formulas I provided on my post. Thanks!

  • Hi Sir,
    Ako ay isang ofw, nakaghulog na ako ng 105 months base sa ipinadala sa akin ng sss main manila, nitong nakaraang taon 2018 hindi ko nahulugan ang isang taon na may 550/month ngayun po ay gusto ko ito bayaran pwede pa po ba ito? at isa pa sa susunod na magbayad ako pagkatapos na mabayaran ko ang 2018 (kung lng po na pwede pa pa bayaran) gusto ko po sana gawing 1,760 na ang monthly ko ano po ang mga dapat na ayusin o ang proseso o kung magbayad na lng ako ng direkta sa sss ng 1,760. pakilinaw lang po para maisagawa ko na ang mga yan.

    Thanks po

    • Federico Suan, Jr. Link Reply

      Hi Cesar. Ang alam ko di ka na pwedeng magbayad ng past contribution. Yes, pwede mo naman itaas yung hulog mo pero di mo na pwedeng ibaba sa susunod. Salamat!

  • Nicko Abilar Link Reply

    Hi! Ang galing naman ng blog na to! Malaking tulong lalo’t grabe ang dami ng taong hindi nakakapunta sa mismong opisina ng sss dahil nadin sa haba ng pila doon. Anyway, ask ko lang, simula nong mawalan ng trabaho father ko (i think 8yrs ago) e hndi na sya nakakahulog sa sss then may naiwan pa ata syang utang doon na hindi parin nababayaran,makakakuha pa kaya sya ng pension? Willing naman kami bayaran yung mga kakulangan nya, he’s 58 na this year. Pano kaya magprocess? Thank you!

    • Federico Suan, Jr. Link Reply

      Hi Nicko. Yes, mas okay na isettle na. Once mag 60 siya eligible pa din naman siya sa pension pero ibabawas muna ang utang kung meron pang natitira. Salamat.

  • Sir itatanong ko lang kung pwede ko bang ipapaclaim sa sister ko ang pension ko kasi nasa USA ako at di pa ako makakauwi sa birthday ko for 60 years old, at yong brach nila sa SF ay parang closed na yata accdg. to google? Thanks . . .

    • Federico Suan, Jr. Link Reply

      Hi Ms. Emma. I’m not sure po if pwede. You can have your sister po to call or visit any SSS branch if this possible thru SPA. Thanks

  • gloria Link Reply

    Hi tanong ko lang po meron akong 311 total number of contributions nag start yung hulog ko ng jan 1987, and naka maximum po akosa monthly salary credit na Php16,000. magkano po kaya yung magiging pension ko?. nag try po ako gamitin yung formula #1 pero nasa 3820 lang po lumalabas. ganito po ang ginawa ko P300+3200(20%AMSC)+320(2%AMS)(31-10) pwede ko po ba makita yung details ng pag compute nyo po?. maraming salamat po.

    • Federico Suan, Jr. Link Reply

      Hi Ms. Gloria. Actually ang lumabas po sa akin ay Php 8,594. Ito po yung ginanwa ko.

      Pension= Php 300 + (0.2 * Php 16,000) + {0.02 (Php 16,000) * [(311/12)-10]}

      Thanks.

  • greetings
    namatay na po dad before he past away naayus nya ung SSS contribution last 2016 po sya namatay nasa magkano po kaya pde namin makuha as his beneficiary.
    thanks in advance

    • Federico Suan, Jr. Link Reply

      Hi Ryan. Sorry to know that. Depende yan kung buhay pa yung asawa ni father niyo. If buhay pa then meron makukuha si mother na pension. Thanks

  • Frannie Link Reply

    Hi Sir,
    I’m 41 y/o now with 220 months, my monthly contribution is 1,320 and a total of 150,667 as of today. If I will continue contributing 1,320, how much will I received on my 60th?

    Thank you so much.

    • Federico Suan, Jr. Link Reply

      Hi Frannie. You can use formula #1 which will result into Php 9,180. Thanks

  • Hello Federico

    I have to admit that I can not believe that formula #1 is true, even if it is stated over and over again, also on the SSS website. The reason: If you take formulas #1 and #3 for granted, than, by simple mathematics, a contribution of 10 years would result in exactly the same pension than a contribution of 19 years. Formula #1 only kicks in after *20* years. For less than 20 years of contributions, formula #3 will always give the highest value. It does not depend on time, so 10, 11, 12, 13, 14, 15, 16, 17, 18, 19 years of contribution will result in exactly the same benefits (usually 6400 pesos per month). Something must be wrong there. A contribution of 11 years must result in higher benefits than a contribution of 10 years, diba? Can you enlighten us on that? Thanks a lot! By the way I am working at an international school and receive a taxable peso salary. My school pays the contributions.

    • Federico Suan, Jr. Link Reply

      Hi Christoph. I couldn’t agree more. Formula number 1 will only be beneficial after 19 years or more of paying SSS contribution. This is why retirement planning has been popular in the country. You now have several options on how to secure your retirement like the SSS Peso Fund and MP2 Program of Pag-ibig. Thanks for your insights and I hope more Pinoy will take retirement seriously just like the way you do.

  • Thanks Federico. I might contact you via email.

    • Federico Suan, Jr. Link Reply

      Looking forward to that. Thanks again!

  • Good morning sir, may I ask on my sss pension computation. I’m working since January 21, 2005 and my employer start to paid my sss Feb. 2005 until now with basic pay of 54k. How much is my estimated pension? Thank you

    • Federico Suan, Jr. Link Reply

      Hi Donabel. Please kindly use formula 1. Thanks

  • Daryl Link Reply

    Hi sir gusto ko po sanang mag hulog ng 1100 monthly sa pension ko.. Magkano po ang makukuha kng pension monthly and lumsum po

    • Federico Suan, Jr. Link Reply

      Hi Daryl. Depende kung gaano ka katagal magwork. Pwede mong gamitin yung tatlong formula. Madali lang siya. Anyways, thank you for dropping by 🙂

  • Hi! Sir tanong ko lang po? Last 2011 po ako nakapagremit sa sss about 6 months po.bali june to dec. Natigil po xa kasi po nag ibang bansa ako. Ngayon po sir gusto ko sana ituloy po. Ano po gagawin ko?

    • Federico Suan, Jr. Link Reply

      HHi Jael. Voluntary member ka na ba? If yes, then you can pay it the usual. If not, you need to change your membership to voluntary. Thanks

  • gerlie Link Reply

    hi 🙂 my mom is already 58 years old and want to apply for sss. She will pay the contribution voluntarily at its maximum amount. We are planning to pay the 10 years sss contributions for just 2 years. Could you advise us if what is her minimum & maximum pension per month?

    • Federico Suan, Jr. Link Reply

      Hi Gerlie. I don’t think they will allow advance payment of her SSS contribution. As per an SSS Circular 2015-007 for a voluntary member, your mom will only be allowed to increase one salary bracket per year. You may kindly refer to the table on this blog post and look for VM column. Thanks!

  • Norman Prieto Link Reply

    I’m 60yrs old and because of portability law I submitted for my sss pension.i had worked with the Doh for 5yrs and 10months went abroad as OFW had contributed to sss at 1760pesos monthly for five years and my total months I’d contribution is 131 months.Just want to ask how much I would recd monthly

    • Federico Suan, Jr. Link Reply

      Hi Sir Norman. You may kindly use the formula one or 40% of your MSC. Thanks!

  • Jo Link Reply

    Hello po, ask ko Lang po if 20 years paying sss maximum amount makano po magiging pension thanks po.

    • Federico Suan, Jr. Link Reply

      Hi Jo. Please kindly refer to the formula above. Thanks!

  • Junjun Link Reply

    Good day sir,,,

    Meron na po akong 196 months of sss contribution since 1996, at ngaun may monthly contribution akong 1,760.00 kc employed pa ako at age of 41,magkano po possible monthly retirement ko at age of 60…?

    • Federico Suan, Jr. Link Reply

      Hi Junjun. Please kindly use formula #1. Thanks

  • Reynaldo Pruel Link Reply

    Good day.

    My last contribution was on September 2016. And now I’m planning to continue my contributions, voluntary/OFW.

    Should i start paying from the succeeding month of my previous contribution, or should i start later, like January 2018 or 2019 ?

    How will it affect my future pension? Provided that I’ll be contributing continously from the month i decided to pay again upto the month prior to my retirement.

    Thank you.

    • Federico Suan, Jr. Link Reply

      Hi Reynaldo. The one used in all the computations is the last 5 years. If you’ll be contributing for more than 5 years then this shouldn’t be a problem. As far as I know, SSS does not allow paying the missed months nor advancing payments for more than a year. Thanks!

  • Gladys Link Reply

    Hi Mr. Suan, mgtatanung lang po. ngwork po ako yr 2000-2005 tpos nkapaghulog ng contribution that time pero nagstop ako work and so is sa pghuhulog ng contribution. and now i’m planning again na hulugan ang SSS ko (as voluntary) which is 38y.o. na ako. so tama po ba compute ko sa number of months like 60-38 = 22yrs plus ung 5yrs na nahulog before na ngwork pa ako so bale total number of months is 324months? Salamat po.

    • Federico Suan, Jr. Link Reply

      Hi Gladys. Tama naman po yung estimate niyo based dun sa info na provided pero yung actual si SSS pa din po yung records. Thanks

  • Elma Link Reply

    I’m ofw and I’m paying monthly contributions 1760. Just want to ask if wise decision ba n i stop ko ang pagbayad s sss and I will invest my money to mutual funds or stocks for long term investment?

    • Federico Suan, Jr. Link Reply

      Hi Elma. Personally, I will not recommend that to you. SSS may not be the best tool for retirement planning but having a contingent retirement benefit like what you can get from SSS is not that bad. Compare to any investments out there, SSS is still safer. And you don’t want to have empty handed if your investments didn’t turn out well (but I hope it will be well though :)). Thanks!

  • lukina Link Reply

    Hello. Could you please help how to compute for credited service years?

    • Federico Suan, Jr. Link Reply

      Hi Ms. Lukina. Your credited years of service is determined but how many monthly contributions you made and then divide it by 12. Thanks!

  • YAM Link Reply

    Hi Sir Federico, Just want to know if sss member, upon reaching of 60 yrs old can avail retirement, kahit still working p sya, sa private company. I already have 252 total number of contributions. And how much po ang magiging monthly pension k. Ang monthly contributio k with my employer is 1485. Need your reply po. Thanks….

    • Federico Suan, Jr. Link Reply

      Hi Yam. The pension is something you’ll get if you are formally working in a company. If you are operating your business then I think you’re still eligible. As for your pension, you may use formula 1. Thank you!

  • Mumtaz Ante Link Reply

    Hi,

    Thanks, Ive always wanted to learn how to compute the sss pension. Im happy that I’m able to understand how you came up with the example formula #1. Just to clarify in the example is the Php 13k++ is that monthly? and for how long? thanks

    • Federico Suan, Jr. Link Reply

      Hi Mumtaz. I appreciate you liked my post. Yes, that’s a monthly pension provided that an employee or member has been a contributing member of 40 years at maximum MSC of Php 16k for the last 5 years. Oh yes, this is something a member can enjoy throughout his lifetime. Thanks!

  • Catalino A. Catindig Link Reply

    Hi Engr Suan I have been working for more than 20 years now and my contributions are at the maximum. I will retire in 2020 I just want to know how much monthly pension can I expect. Also I plan to request for a lumpsum amount to invest maybe through you, so I would like to know how many months can I request for lumpsum? I hope you can help me. Thank you.

    • Federico Suan, Jr. Link Reply

      Hi Mr. Catalino. Thank you for reaching out. Based on the info you provided you’ll be entitled to a rough estimate of Php 6,700 per month. As far as I know, you’re only entitled to advance the first 36 months of your pension or equivalent to Php 241,200. By doing this your pension will resume after 36 months. Thank you!

  • Ferdinand Reyes Link Reply

    Hi Mr. Suan.
    How can I make a dispute on my pension amount? I am a former ofw until 2012 for 6 yrs. previous to that, i was a local employee. I have been paying voluntarily on and off when I was overseas. My premium payments became regular since 2012. When I was paying voluntarily, I inquired on line on how much is the estimate pension I will receive when I turn 60 yrs old. It says P 6,800.00. I made inquiry a couple more times up to the time I actually filed my pension application on Sept 2018. It still showed P 6,800. So, I was expecting to receive At least P 6,800 plus the P 1,000 per month additional benefit for a total of at least P 7,800.00. I was aghast when they said that my pension only amounted to P 5,800 plus. My total contribution was P 165,710.80 and made 307 months of contribution. Also, there are succeeding months before i turned 60 yrs old where my contribution increases every month. They said this is not acceptable. I cannot see how since my contribution is voluntary. I want to have the computation disputed. Is their computation correct more or less or I have the right to dispute. Also the amount they said they deposited in my account was P 35,022 representing my benefit from sept 2018 to feb 2019 while in fact I received P 39,859. Please help. Thank you po.

    • Federico Suan, Jr. Link Reply

      Hi Sir Ferdinand. I’m not from SSS nor representing SSS in any way but will answer your question to the best of knowledge.

      The SSS pension estimator they have on their website is not accurate but just an estimate of your pension on certain conditions which I think don’t capture certain factors. Like your average monthly salary credit.

      As per an SSS Circular 2015-007 for a voluntary member, you will only be allowed to increase one salary bracket per year if you are already 55 years old and above. So increasing your contribution will not necessarily increase your benefits if you have done it beyond 55 years old.

      Another thing po, I guess Why you received Php39k is because of the additional one month (13th month).

      If you are still not satisfied with this explanation you may still have it disputed.

      Thank you!

  • gizzelle rosela Link Reply

    ano po yung binibigay ni sss na 18th months pension ? utang po ba ito o lump sum ? 63 na po kasi papa ko pero mgayon lang sya magpasa ng retirement nya..

    • Federico Suan, Jr. Link Reply

      Hi Gizzelle. Advance pension ibig sabihin magreresume ulit yung pension after 18 month. Thanks!

  • Hi Mr. Suan,
    Ask ko lang. If SSS member will retire at the age of 65 still continues paying SSS contribution at the age of 65.
    1. Makukuha ba ng member yong total contribution niya from age 60 to 65
    2. Pag nag file ba siya ng pension at the age of 65 agad ba siyang makakuha ng lump sum for 18 months and monthly pension after 18 months?
    Please reply at my email.
    Thank you.

    • Federico Suan, Jr. Link Reply

      Hi Ms. Tess. I think you won’t get the additional contribution you paid from age 60 to 65. For the second question, you’re correct that you can get the first 18 months and then the pension will resume after the 18 months period. Thanks!

  • jenna Link Reply

    i am 51yo, an ofw.my last sss cont payment was in may 2011 and i paid more than 200mos cont.do u think it will be better to continue paying my cont until i will turn 60 following the latest max MSC to get higher pension? if not, how much will i get when i turned 60? i dont have any existing loans..tnx.

    • Federico Suan, Jr. Link Reply

      Hi Jenna. I think it’s better if you’ll continue to make your pension higher. Noting that you only paid for almost 17 years only. If you’ll make it until 60 then you’ll get a higher pension. Are you already paying the maximum? If not then take advantage of paying the maximum because if you are only 51 yrs. old then you are still allowed to change your contribution in any number of salary brackets. Thanks

  • 10 years ako nag bayad ng 330 monthly for 120mos magkno makukuha q pension at my age 60?

    • Federico Suan, Jr. Link Reply

      Hi Jason. Based on the 3 formulas you may get a pension of Php 1,200. Thanks

  • Ann C. De Leon Link Reply

    Gud pm.ask ko lang po.naka26 yrs na ko naghuhulog Sss nasa 314 months na po .pano po pag compute nian kasi nag exceed na contri ko ng 16yrs.usually dapat 10yrs lang dapat ang require.makukuha ba ung 16 yrs na sobra sa hulog ko.tks

    • Federico Suan, Jr. Link Reply

      Hi Ms. Ann. Minimum contribution po to be eligible for pension po ay 120 months. If naka 314 na po kayo mas malaki na po yung pension niyo once magretire po kayo. Thanks

  • Hasper Link Reply

    Hi Federico,
    I am voluntary paying for my SSS contribution, tanong ko lang po kung pwd po ba 330 per month muna yung babayaran ko sa contribution tapos at age of 50 gawin kong 1760 na. Magkano kaya ang matatanggap ko na pension po at age of 60? Thanks po

    • Federico Suan, Jr. Link Reply

      Hi Hasper. Please use the three formulas to compute. The highest amount will be your pension. However, this is just an estimate as the real value is determined on the actual contributions made. Thanks!

  • maricor c. san diego Link Reply

    Ask ko lng po ngwork po ako ng 6months tapos my contribution nmn ung company ko then nstop po cya nung ng-abroad ako na continue ko po cya last year hulog ko po ay 550 magkano po kaya mgging pension ko? 35 yrs old po ako ngaun pagnatapos ko po ba ang 10yrs nahulog pwede ko parin b cya icontinue ang hulog ko at kung posibility po na lalaki ang pension ko nun?salamat ng madami in advance

    • Federico Suan, Jr. Link Reply

      Hi Maricor. 10 years po ang minimum na hulog para maging eligible sa pension. If minimum po yung number of years paid ibig sabihin minimum lang din po yung benefits. So I suggest kung kayang taasan yung hulog at kung kayang ituloy even after 10 years mas okay po iyon. Salamat 🙂

  • Tess Link Reply

    Hi Sir,
    Just to inquire. I am voluntarily paying my sss at the maximum and I am an OFW. I have completed already 6 CYS and I am 54 yrs of age. How much will be my pension upon completing my contribution up to my retirement age and keeping the maximum amount of contribution. I appreciate your advise. Thank you.

    • Federico Suan, Jr. Link Reply

      Hi Ms. Tess. Considering that you’ll only have another 6 years to contribute or 12years of credited service. Using the formula 3 then your pension will be around 40% of Php 16,000 or Php Php6,400 monthly. I hope I helped you. Thanks!

  • Louise Link Reply

    Is the last 5 year contribution still the basis of SSS’ pension computation? Or has it changed already and you will get more if you contributed higher amounts? Thanks!

    • Federico Suan, Jr. Link Reply

      Hi Louise. As far as I know, nothing changed with their computation. Thanks!

  • Arnel t. Aniñon Link Reply

    Sir can I ask you I hope you can answer my question 550 pesos contribution per month good for 120 months how much I earned the pension when I’m retired in 60 years old thanks I hoped you can answer me

    • Federico Suan, Jr. Link Reply

      Hi Arnel. Given the info, formula #3 will yield the highest amount of Php 2,000. Thanks!

  • Good day sir,
    I’m 59 years old now. If I will retire at the age of 60 years old. My SSS
    contribution as voluntary contribution has reach 185 months magkano po ba ang
    monthly pension ko. Salamat…

    • Federico Suan, Jr. Link Reply

      Hi Mr. Aquilles. I cannot personally say how much given that we are limited by the data. However, you may check it with your SSS branch. Thanks 🙂

  • eamsrop 08 Link Reply

    Sir, ask mo lang po ok lang po ba na mag start po ako with in my 5yrs minimum contribution then after 5yrs i will increase to maximum contribution ligeble po ba ako for pension? And how much po ang magiging pension ko po. Thanks.

    • Federico Suan, Jr. Link Reply

      Pwede yan namn yan provided that you are below age 55. Thanks

  • rodel Link Reply

    Good day sir, ask kulang sir mag 60yrs old na po yung mother ko ngayung taon,tapos hanggang 84months lang ang nahuhulogan nya sa sss.Pwede ba syang mag pension kahit hindi umaabot ng 120months ang kanyang contribution?salamat po.

    • Federico Suan, Jr. Link Reply

      Hi Rodel. Base sa SSS, ang pwede lang ay lumpsum or ibabalik yung total amount paid. Para makasiguro pwede kang pumunta sa malapit sayo na SSS branch para masagot ang iyong mga katanungan ukol sa retirement ng iyong ina. Salamat

  • hi sir, I was scheduled to retire this end of April 30, 2019 and worked from this company for 35 yrs. I’ve been in this company since i was 19 yo and i am only 56 yrs old and turning 57 by december 2019. However, my other ear (left) is impaired and currently used a hearing aid.My question sir? can i apply for an early pension from SSS due to my disibility? and how much pension will i get? Thank you sir.

    • Federico Suan, Jr. Link Reply

      Hi Ms. Ma. Lourdes. According to the Social Security Act of 2018, you may only avail a 10 month worth of pension if you lose hearing of one ear. You may kindly go to your SSS branch to fully assist you po with this. Thanks 🙂

  • Jums Link Reply

    Hi Mr. Wise Guy,

    Kudos to your blog. Enjoyed reading it.

    I am continuing my father’s SSS contribution and he is to retire 8 years from now. He already had 51 months contribution amouting 110 a month from nov 2017 up to dec 2021.

    Following the formula, how much monthly contribution I need moving forward so I can maximize the sss pension benefit? I understand that sss is only considering the last 5 years contribution (55yo – 60yo) monthly contribution in pension computation. What are the things I need to consider as well.

    Thank you and God Bless

    • Federico Suan, Jr. Link Reply

      Hi Jums. It’s nice to have you in my blog 🙂

      As of today, the minimum contribution is pegged at Php240 so for this month you’ll have to pay the higher amount. Aside from that, you have three things to consider for you to maximize the pension of your father.
      1. The average MSC for the last 5 years will be the basis of retirement pension.
      2. The member can jump at any number of brackets per year provided that the member is below age 55. When he reaches age 55. He’ll be only allowed to increase one salary bracket per year.
      3. Due to R.A. 11199, MSC is scheduled to change every other year until the year 2025 and reaches the max MSC of Php 35,000.

      This is my recommended solution:
      1. Continue paying the minimum of Php 240 per month and then at age 54 he may start paying the maximum (you basically jumped 36 salary brackets).
      2. At the year 2021, he is already 54 and starts paying the max contribution for that year with MSC of Php 25,000.
      3. At the year 2022, he is already 55 and only allowed to increase one salary bracket per year.
      4. At the year 2023, he is already 56 and you may again increase the bracket by one with MSC of Php 26,000.
      5. Repeat no. 4 until he reaches the retirement age of 60.
      6. His average MSC at that time will be like this (Php 26,000 + Php 26,500 + Php 27,000 + Php 27,500 + Php 28,000)/5 or AMSC of Php 27k.
      7. Because he only paid 12 years (51 mos./12 plus 8) we can use formula #3.
      8. Resulting pension is Php 11,800 (Php 10,800 plus Php 1,000 additional pension as per R.A. # 11199)

      Thanks, bro for dropping by.

  • ARNIE Link Reply

    Thank you! your blog was very informative and inspiring..
    Decided to get a VUL in Sunlife! 🙂

    • Federico Suan, Jr. Link Reply

      Hi Arnie. You are most welcome. Hope you can pursue getting the plan. If you think I can still be of help to you just let me know 🙂

  • Jes Link Reply

    Hi! Im planning to voluntarily contribute for my mother’s sss starting this year 2019. She’s already 44 years old. How much is her possible pension at the age of 60 if i’ll contribute p600/month?
    Thank you

    • Federico Suan, Jr. Link Reply

      Hi Jes. Please kindly use formula #3. Thanks

  • Hi Sir. I will be turning 33yrs. of age, my 1st question is what if I want a 20,000 Pension a month during retirement so how much do I need to start contributing to the SSS monthly as an OFW. And how many yrs is the maximum to allowed to pay a head of time? e.g can i pay my contribution for the next 5 consecutive yrs.? tnx

    • Federico Suan, Jr. Link Reply

      Hi Alvin. SSS does not allow advance payment of contribution and as per your pension, I think this is doable because at the year 2025 MSC will settle at 35k. Thank you 🙂

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