MySSS Pension Booster Philippines : sss.gov.ph
Organization : Republic of the Philippines
Portal : Social Security System (SSS)
Facility : MySSS Pension Booster
Country : Philippines
Website : https://www.sss.gov.ph/mysss-pension-booster/
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What is MySSS Pension Booster?
Indeed, retirement is one of the most awaited chapters in the lives of working individuals. To effectively prepare for this milestone event, the Social Security System (SSS) offers a savings scheme that is secured, tax-free, and affordable – the MySSS Pension Booster.
Related / Similar Facility : Paying SSS Contributions Philippines
This is the rebranded WISP Plus, a voluntary savings scheme, which is open to all SSS members regardless of their MSC, with one (1) posted contribution, and without filed final benefit claim, and for those applying for the issuance of the SS Number.
While the MySSS Pension Booster is open to all types of SSS members, it specifically targets mid- to high-income earners who have the financial capacity to invest more, such as self-employed and maritime professionals, Overseas Filipino Workers (OFWs), and corporate executives, among others. By investing their excess incomes, these members stand to receive higher savings returns and increased retirement income in the future.
Features of MySSS Pension Booster
Here are the most notable features of the MySSS Pension Booster:
** Affordable savings scheme. Members may contribute as low as ₱500.00 per payment, with no maximum limit (depending on the SSS-partner collecting agent).
** High return of investment. In 2023, the fund for the voluntary retirement savings scheme reached ₱386 million, with ROI of 6.97%. This year, the SSS targets to reach 7.2% interest rate.
** Tax-free investment. Total contribution and investment earnings under the MySSS Pension Booster are tax-free.
** Easy and fast posting of contributions. Contributions can be made online through the SSS website, SSS Mobile App, or SSS’ Collection Partners’ app using a Payment Reference Number (PRN), or over the counter through SSS branches with tellering facilities or collections partners’ branch/office (local or abroad).
** Flexible payment terms. Members can contribute anytime depending on their capacity to save. However, payment to MySSS Pension Booster contributions must be done together with their regular SSS contributions.
** Easy access to MySSS Pension Booster records. Members can easily monitor their contributions through their individual My.SSS accounts as posting of contributions is real-time! Very soon, investment income shall also be visible in their My.SSS account.
** Receive the total accumulated value (principal & investment income) tax-free! This is paid out as a pension, as lump sum, or a combination of both, and on top of their final benefit under the regular SSS program.
How To Enroll For MySSS Pension Booster?
Enroll via your My.SSS Account. Other SSS membership types (Self-Employed/Voluntary Member/OFW) may enroll to the MySSS Pension Booster through their individual My.SSS accounts. Just log in to your account, click “Pension Booster” under the Services tab, then read and accept the terms and conditions of the program.