8 SSS Benefits You Probably Didn’t Know About
Most of us are aware that our monthly contributions to the Social Security System (SSS) can safeguard us in old age, thanks to its retirement benefits.
But did you know that you can get more from SSS than just your monthly pension?
Check out these 8 little-known SSS benefits that you can get:
1. Sickness Benefit
Suddenly got sick or injured? You can get a daily cash allowance for the number of days you can’t go to work through SSS’s sickness benefit.
Conditions: You should be confined at home or in a hospital for at least four days, and have already used all your company sick leaves. You should also have at least three months’ worth of SSS contributions within the last 12 months.
Amount: Your daily allowance is equivalent to 90% of your average daily salary credit.
2. Maternity Benefit
If you can’t work because you recently gave birth or had a miscarriage, you may receive a daily cash allowance from SSS.
Conditions: You should have at least three months’ worth of contributions within the last 12 months.
Amount: Your daily allowance is equivalent to 100% of your average daily salary credit, multiplied by 60 days for normal delivery and miscarriage, and 78 days for cesarean section.
3. Disability Benefit
Whether you’re partially or totally disabled, you can avail of SSS’s disability benefit either as a monthly pension or a lump sum amount.
Conditions: You should have at least a month’s contribution before the semester of disability. If you paid at least 36 monthly contributions, you qualify for a monthly disability pension. If not, you are granted a lump sum amount.
Amount: The monthly disability pension ranges from P1,000 to P2,400, depending on years of service. You also get an additional P500 monthly supplemental allowance.
4. Death Benefit
You can get a monthly pension or lump sum amount as a beneficiary of a deceased SSS member.
Conditions: You get a monthly death pension if you’re the primary beneficiary (spouse and dependent children) of a deceased SSS member who had at least 36 monthly contributions. If the contributions are lower than that, you get a lump sum. If there are no primary beneficiaries, the secondary beneficiaries or dependent parents receive the lump sum.
Amount: The monthly death pension ranges from P1,000 to P2,400, depending on years of service. If you have dependent minor children, they get a pension equivalent to 10% of the member’s monthly pension or P250, whichever is higher. You also get a 13th-month pension every December.
5. Funeral Benefit
You are entitled to a funeral cash benefit if you paid the burial expenses of a deceased SSS member.
Conditions: You should have at least one contribution if you’re a voluntary, self-employed, or OFW member. Employees automatically get funeral benefits as long as they’re covered by their employers.
Amount: The amount ranges from P20,000 to P40,000, depending on the member’s contributions and years of service.
6. Employees’ Compensation (EC) Program
The EC Program is a cash benefit for employees who became sick or injured due to work-related causes, thus leading to permanent disability or death.
Conditions: If your injury was caused by intoxication, negligence, and self-harm, you don’t qualify for the EC Program.
Amount: SSS pays for medical services, appliances, supplies, and rehabilitation services. It can be used simultaneously with SSS’ sickness and disability benefits.
7. Salary Loan
If you have short-term credit needs, you can avail of the SSS salary loan.
Conditions: You should have at least six months’ worth of contributions within the last 12 months. The length of your loan payment depends on how many contributions you’ve made. You also shouldn’t have any current loans with SSS.
Amount: The loan is equivalent to your average salary credits in the last 12 months. There’s an interest rate of 10% per year, and it can be renewed as long as you’ve paid off 50% of the original principal amount.
8. P.E.S.O Fund
If you can contribute more to SSS, you can do so through the Personal Equity and Savings Option or SSS P.E.S.O. Fund.
Conditions: You should be below 55 years old and have at least six months’ worth of contributions within the last 12 months.
Amount: You will receive the benefits upon retirement, disability, or death claim through a monthly pension, lump sum, combination of both.
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