Some people consider it a burden paying their Social Security System (SSS) member contribution, but the fact is; membership with the state-fund has many benefits.
For most employees, Republic Act 8282, or the Social Security Act, requires them to automatically be deducted contributions monthly and their employers to remit it directly to SSS along with their share.
As an SSS member, it is important to be knowledgeable of these benefits and how to claim them when the need arises.
Here is the Summary of SSS Benefits that Members can take advantage of.
- Sickness Benefit
-Sickness benefit provides a daily cash allowance for the number of days a member is unable to work due to sickness or injury.
Check out: How to File for Sickness Benefit
- Maternity Benefit
-Maternity benefit is for female members who are unable to work due to childbirth or miscarriage. They are given a daily cash allowance equivalent to one hundred percent of her average daily salary credit (ADSC) multiplied to 60 days for normal delivery or 78 days for caesarian section.
- Disability Benefit
– If due to an unfortunate circumstance the SSS member became permanently disabled, either partially or totally, a cash benefit will be granted either as a monthly pension or lump-sum amount.
The member should have paid at least one month contribution before the semester of disability. He/she must also have paid at least 36 monthly contributions prior to the semester of disability.
If qualified, the member is granted a monthly Disability Pension, plus a P500 monthly Supplemental Allowance. The lowest monthly Disability Pension is P1,000 if the member has less than ten (10) credited years of service (CYS); P1,200 if with at least ten (10) CYS; and P2,400 if with at least twenty (20) CYS.
- Retirement Benefit
-Once a member can no longer work due to old age, a cash benefit is granted either as a monthly pension or a lump sum amount. He/She is also entitled to a 13th month Pension payable every December.
- Death Benefit
– Beneficiaries of a deceased SSS member are granted a cash benefit, either as lump sum amount or monthly pension.
The member’s primary beneficiary is granted a monthly death pension, plus a 13th month pay. If the member has minor dependents, they are given a dependent’s pension equivalent to 10% of the member’s monthly pension or Php250, whichever is higher. The lowest monthly Death Pension is P1,000 if the member had less than ten (10) CYS; P1,200 if with at least ten (10) CYS; and P2,400 if with at least twenty (20) CYS.
- Funeral Benefit
– Funeral benefit is the cash benefit given to whoever paid for the burial expenses of the deceased member.
Aside from those benefits, members can also avail of SSS Salary Loan once they fulfill the qualifying conditions. The loanable amount can be equivalent to the member’s one or two months salary.
Check out: How to File for SSS Salary Loan
- Unemployment Benefit
President Rodrigo Duterte recently signed the Social Security Act of 2018 which provides unemployment insurance of at least P10,000 per month to members who have been involuntarily dismissed from their work. You can get up to 2 months of salary. Read more on Unemployment benefit details