SSS Retirement Benefit Philippines : Social Security System

Organization : Republic of the Philippines
Portal : Social Security System (SSS)
Facility : Retirement Benefit
Country : Philippines
Website : https://www.sss.gov.ph/retirement-benefit/

What is SSS Retirement Benefit?

The retirement benefit is a cash benefit paid either in monthly pension or as lump sum to a retiree member who can no longer work due to old age.

Types of SSS Retirement Benefit:
** Monthly pension – a lifetime cash benefit paid to a retiree member on a monthly regular basis who has paid at least 120 monthly contributions prior to the semester of retirement.
** Lump sum benefit – a one-time cash benefit equivalent to the total contributions paid, including interest earned, paid to a retiree member who has not met the required 120 monthly contributions.

Who Can Apply For SSS Retirement Benefit?

1. A member must have paid at least one hundred twenty (120) monthly contributions prior to the semester of retirement; and is any of the following, whichever is applicable:

a. Has reached sixty (60) years old and is separated from employment or has ceased to be self-employed/Overseas Filipino Worker (OFW)/Household Helper (optional retirement), except:

** In the case of an underground mineworker (R.A. No. 8558), at least 55 years old effective 13 March 1998; and
** In the case of an underground or a surface mineworker (R.A. No. 10757), at least fifty (50) years old effective 27 April 2016; or

b. Is at least sixty-five (65) years old, whether employed/self-employed, working as OFW/household helper or not (technical retirement), except:

** In the case of an underground mineworker effective 13 March 1998 [R.A. No. 8558] or a surface mineworker effective 27 April 2016 (R.A. No. 10757), at least sixty (60) years old, and
** In the case of a racehorse jockey (R.A. No. 10789), at least 55 years old effective 24 May 2016.

c. A Total disability pensioner who has recovered from disability and is at least 60 years old or:

** In the case of an underground mineworker (R.A. No. 8558), at least 55 years old effective 13 March 1998; and
** In the case of an underground or a surface mineworker (R.A. No. 10757), at least fifty (50) years old effective 27 April 2016.

2. A former retiree-pensioner whose monthly pension was suspended due to re-employment/self-employment and is now separated from employment or has ceased to be self-employed.

How To Apply For SSS Retirement Benefit?

All qualified employee-members, self-employed (SE), voluntary members (VMs) and land-based Overseas Filipino Worker (OFW) members shall file their retirement benefit claim online through the My.SSS portal, subject to the guidelines under Circular No. 2021-021 dated 28 December 2021.

Pre-Requisites For Online Filing:
** Member must be registered in the SSS Website to apply for retirement benefit claim online through the My.SSS portal.
** Member must have a UMID card enrolled as ATM or an approved disbursement account in the DAEM in the My.SSS portal.

Retirement benefit claims with any of the following conditions/cases shall be filed at any SSS Branch Office or Foreign Representative Office:
** With outstanding Stock Investment Loan Program (SILP)/Privatization Loan Program/Educational Loan/Vocational Technology Loan balance;
** Dependent child/children under guardianship;
** Member is incapacitated, under guardianship, or confined in an applicable institution such as penitentiary, correctional institution or rehabilitation center;
** Application of Portability Law or Bilateral Social Security Agreements;
** With adjustment or for re-adjudication of claim; and
** Unclaimed benefit of deceased member.