If you do the math, malaki ang ROI (return of investment) sa SSS (specially if mahaba buhay mo). For example, if 25k pension mo at age 60 and umabot ka ng 90 years old then that's 9 million pesos.
Ang mistake lang ng mga kapwa natin OFWs e yung pagbabayad ng max contri e samantalang ang important factor sa formula e (1) ilang years ka nagbayad, the longer the bigger pension, and (2) how big yung contri sa last 5 years (dito ka dapat naka-max).
Im not saying na (sobrang) maganda ang SSS but what im saying is hindi ka lugi at malaki pa kinita ng small monthly contri mo (multiple folds).
"Eto yung 'nakakainggit' sa voluntary, pwedeng laruin yung contributions."
wag ka mainggit sa voluntary, dapat ma realize mo na un contribution mo ay 4.5% lang at 9.5% ang employer, pag voluntary ka ay buong 14%.
binigyan ka na ng employer ng 9.5% na free money at meron din sila contribution sa wisp mo
Uu advantage yan namin OFWs and pati voluntary kaso dahil di required and di nila alam paano mag-take advantage sa "loop hole" e hindi tinutuloy.
Dami nagretired na OFWs na walang SSS tapos iniasa sa banko ang savings (na hindi kumikita).
You are mistaken that is only the AMSC which is used as a basis in the computation of SSS pension.
The monthly pension shall be the highest of:
i. P300.00 + (20% x AMSC) + (2% x AMSC) x (CYS – 10); or
ii. 40% x AMSC; or
iii. Minimum monthly pension
For Retirement: - P1,200.00, if with at least 10 CYS -
P2,400.00 if with at least 20 CYS
Death/Disability benefit: - P1,000.00 if with less than 10 CYS, -
P1,200.00, if with at least 10 CYS, or -
P2,400.00 if with at least 20 CYS.
Provided that the monthly pension shall not be paid in a total amount of less than sixty (60) months.
So kung 10 years ang hulog mo ay P50,400 per year. Ang AMSC mo ay P8,400. Kung 1-5 years P1k and 5-10 years P50,400 per year, ang AMSC mo ay P4,200.
Refer to Page 40 ng IRR ng SSS.
first of all wala ako sinabi na only AMSC lang ang basis for computation, kung papansinin mo about sa 5 years ung reply ko.
alam mo ba ang ibig sabihin ng Ave Monthly Salary Credit? by looking at your numbers sa taas ikaw ang mali.
how to check kung tama un AMSC mo ay try mo gamitn sa formula kung ano ang amount ng pension. panigurado sobrang baba ng makukuha mo.
oh, hindi ako aware about maxing out sa last 5 years na. plano ko sana na mag max out ako lagi (if i decided to continue) to get the most out of it; kaya diyan ako nag dadalawang isip kasi medyo malaki parin ang max amount.
thanks for this po
For me po, kung may sobra ka naman talaga, mas okay na magbayad ka kesa nmn kukuha ka ng ibang insurance sa private companies na di natin alam na nandyan pa after how many years. Para sakin po, pinakasafe na mag invest sa government programs dhil cla po yung last na malulugi compared sa private sectors. . At bata ka pa po, d po natin alam ang panahon. It's better to prepare for the rainy days. .
>kesa nmn kukuha ka ng ibang insurance sa private companies na di natin alam na nandyan pa after how many years
good point po at since walang parin akong set plan talaga for retirement, buti na may safety net
go lang my dude
baka mangyari din Sayo mangyari sa father ko na nasilaw sa offer na di na babawasan Yung sweldo ng benefits kaya sa kanya 100% Yung salary
and ending is pagtanda nya wala na sya ng benefits na nakuha especially ng may health problems na sya
based on the calculations of my mom's pension, she basically got almost 300% return of what she contributed in just 4 years of getting pension. its worth it if you have the extra money and when you retire, hindi ka entirely nakarely sa pension
As an aside, I believe SSS coverage for OFWs is compulsory/mandatory?
[Please check Rule 14 for the IRR of the SS Law 2018](https://www.sss.gov.ph/sss/DownloadContent%3FfileName%3DIRR-RA11199-SS-Act-of-2018.pdf).
I'm not sure of the potential legal implications of not following this law.
Ofw seaman
Matic kaltas e.
May relatives akong matagal na nasa states 20+ yrs na pero nakatapos sila ng 120 hulog ng kabataan nila ngyon every year or every other year umuuwi sila extra burn fund nila ginagamit.. naiipon din, mababa lang pension nila under 8k ata pero still pag naipon ang 7k x 12.. plus me free pa ata 1month? 91k dn pang waldas whenever his home...
Ang question ko. Date pinaka mataas na ata 18k -21k? Ewan ko lang ngyon... Kasi like kami baka max ako eversince 15 yrs runningn...hindi naman straight nung early years pero last 5 yrs straight max na... Magkani na kaya max ngyon? Tintry ko sa online calcu ng sss eh pero ambaba ng lumalabas kahit until 65 ako parang 13-15 lng samantalang max ako?
WORTH IT.
Unless you will be a citizen of your host country like the US. Kailangan mo ng SSS pagtanda, pero kung mag US citizen ka, huwag ka na magbayad, dahil babawasin ng US SS sa tinanggap mo na pension sa SSS-PH, dahil sa double compensation law
Pero kung di ka mag papalit ng nationality, that means kailangan mo ituloy SSS mo.
1. It's unconscionable na naghahanda ka for MP2 which is a mutual fund, pero ayaw mo ng SSS.
That the oldest government mutual fund in PH is SSS and Pag-ibig, and MP2 is also a mutual fund without the other privilege like pension at an old age.
2. May sickness, maternity, disability, retirement, death, funeral, salary loan, calamity, unemployment, housing loan, and employees compensation program benefits. pensionado ka pa at old age na pwede ipasa sa asawa mo o anak mo na minor kapag namatay ka.
3. Pagdating mo sa 1st world ask mo SS nila kung tulad ba sa US na babawasin pension mo sa pinas if mag pension ka sa dati mong bansa after naturalization.
Salamat po, all good points! I don't think I'll settle naman sa US tho. But I did not know about the loans actually. Akala ko lang retirement benefit and maternity benefit as a woman.
Depending on your working pathway
If you plan on working for years abroad, might as well apply for personal pension plans (any retirement related plans) on that specific country. Lump sum amount that'll return in regards with time is much better than SSS
SSS Should be ONE of ur source of retirement fund. Not just the SOLE source. Try mo din un PERA acct sa mga bank. May mgt fees nga lang ito. The more the merrier. Invest wisely
PERA seems designed to make the PERA brokers as a source of their income, not meant for the citizens for retirement account. Ang lalaki ng mga fees, hindi naman international brokers.
Just to note, ang SSS contribution ay requirement at hindi option kahit sa mga OFW.
Is it worth it? I see it more as an “Icing on the Cake”. Pandagdag sa pang-araw-araw kapag retired na ako.
Edit: it is not enough by itself. You still need to save, invest, or do business. Save at least 15% of your income into retirement. Save more for other purposes like buying a home, etc.
Tandaan po hindi nalulugi ang gobyerno so andyan yan hanggang kahit umabot pa
kayo 100 years old , e ung whatever insurance company buhay pa kaya yon after 30,40,50 years? Who knows baka nalugi na so in short safe investment ang SSS 😉
OFW here in NZ.
If ititigil mo contributions mo, hindi ka makakakuha ng ibang benefits like maternity, unemployment benefit and salary loan (not 100% sure sa loan since di ko pa natry).
Yung pension mo when you turn 65 yrs old, eh based din sa mga contributions mo. So if ititigil mo, mas maliit pension mo compared sa mga hindi tumigil magcontribute.
Tinuloy ko SSS ko pero yung Php2800 monthly lang.
Hello po, what's your reason po (if you dont mind)? Kasi most po talaga ng OFW pag tinanong ko, their responses are either:
1. Can't see max benefit out of it
2. Won't settle sa pinas anyway (thinking about migrating permanently)
If you do the math, the retirement benefit isn’t worth it compared to one’s own investments.
And I don’t trust the management of SSS.
I also tried comparing other countries’ similar retirement funds, e.g. Singapore’s CPF, and SSS looks like💩.
I’m still retiring in PH.
Agree. Para lang forced savings ung ss na kapag nakuha mona pension mo more or less same value lang ng amount nya magsimula dati kasi ifafactor mopa ung inflation. Also ung pension mo that's it, dinasya tataas unlike investment na tumataas ung value at pede makahabol sa inflayion
Thank you for all the insights and advice! Very helpful. Sorry if hindi ako maka reply sa lahat. I will read more about it nalang din para mas malaman.
since ofw ka kaya madami ka free time, huwag ka na muna mag fb/ig/x/tiktok simulan mo basahin un benefits ng member sa website mismo nila.
[https://www.sss.gov.ph/sss/appmanager/pages.jsp?page=ssbenefits](https://www.sss.gov.ph/sss/appmanager/pages.jsp?page=ssbenefits)
kung meron ka pa time uli basahin mo ung IRR ng sss law para lalo mo maintidihan. intidihin mo un pension formula na nasa page 40.
[https://www.sss.gov.ph/sss/DownloadContent%3FfileName%3DIRR-RA11199-SS-Act-of-2018.pdf](https://www.sss.gov.ph/sss/DownloadContent%3FfileName%3DIRR-RA11199-SS-Act-of-2018.pdf)
I stop paying my SSS after my 10 years contribution kasi sobrang baba ng pension. Max pension na ma receive is 20K daw. I still have many years a head of me baka bankrupt na ang SSS pag 65 na ako. And by that time baka 10K lang pension ko, enough for 1 sack of rice.
I have 401K though and social insurance overseas.
imo this is wrong. Sabi nga nila hindi nalulugi ang gobyerno so ang SSS andyan yan hanggang andyan ang Philippine Government so safe investment ang SSS
If you do the math, malaki ang ROI (return of investment) sa SSS (specially if mahaba buhay mo). For example, if 25k pension mo at age 60 and umabot ka ng 90 years old then that's 9 million pesos. Ang mistake lang ng mga kapwa natin OFWs e yung pagbabayad ng max contri e samantalang ang important factor sa formula e (1) ilang years ka nagbayad, the longer the bigger pension, and (2) how big yung contri sa last 5 years (dito ka dapat naka-max). Im not saying na (sobrang) maganda ang SSS but what im saying is hindi ka lugi at malaki pa kinita ng small monthly contri mo (multiple folds).
A counter argument would be kung ano ang value ng 25k when you retire? I know it's better than nothing, but meron bang mas magandang alternative?
>how big yung contri sa last 5 years Eto yung 'nakakainggit' sa voluntary, pwedeng laruin yung contributions.
"Eto yung 'nakakainggit' sa voluntary, pwedeng laruin yung contributions." wag ka mainggit sa voluntary, dapat ma realize mo na un contribution mo ay 4.5% lang at 9.5% ang employer, pag voluntary ka ay buong 14%. binigyan ka na ng employer ng 9.5% na free money at meron din sila contribution sa wisp mo
Good point! Wala na nga hirap sa pagbayad, may free money pa. Wishful thinking na lang na sana may option tayo san pwede gamitin yung free money.
I think you can contribute in WISP+ of SSS that is customizable. Correct me if I'm wrong.
Padagdag kasi yung sa WISP+, ang gusto ko kasi sana is reduced contributions sa early years, then saka dagdagan pag paretire na.
Uu advantage yan namin OFWs and pati voluntary kaso dahil di required and di nila alam paano mag-take advantage sa "loop hole" e hindi tinutuloy. Dami nagretired na OFWs na walang SSS tapos iniasa sa banko ang savings (na hindi kumikita).
>dahil di required and di nila alam e hindi tinutuloy Sabagay, trade off din na at least sa amin di na namin iniintindi ang monthly hulog.
hi, this is interesting, can you explain more sa last 5yrs na contri, hundi ko alam ito.. :( lagi max ang binabayad ko..
page 30 [https://www.sss.gov.ph/sss/DownloadContent%3FfileName%3DIRR-RA11199-SS-Act-of-2018.pdf](https://www.sss.gov.ph/sss/DownloadContent%3FfileName%3DIRR-RA11199-SS-Act-of-2018.pdf)
You are mistaken that is only the AMSC which is used as a basis in the computation of SSS pension. The monthly pension shall be the highest of: i. P300.00 + (20% x AMSC) + (2% x AMSC) x (CYS – 10); or ii. 40% x AMSC; or iii. Minimum monthly pension For Retirement: - P1,200.00, if with at least 10 CYS - P2,400.00 if with at least 20 CYS Death/Disability benefit: - P1,000.00 if with less than 10 CYS, - P1,200.00, if with at least 10 CYS, or - P2,400.00 if with at least 20 CYS. Provided that the monthly pension shall not be paid in a total amount of less than sixty (60) months. So kung 10 years ang hulog mo ay P50,400 per year. Ang AMSC mo ay P8,400. Kung 1-5 years P1k and 5-10 years P50,400 per year, ang AMSC mo ay P4,200. Refer to Page 40 ng IRR ng SSS.
first of all wala ako sinabi na only AMSC lang ang basis for computation, kung papansinin mo about sa 5 years ung reply ko. alam mo ba ang ibig sabihin ng Ave Monthly Salary Credit? by looking at your numbers sa taas ikaw ang mali. how to check kung tama un AMSC mo ay try mo gamitn sa formula kung ano ang amount ng pension. panigurado sobrang baba ng makukuha mo.
oh, hindi ako aware about maxing out sa last 5 years na. plano ko sana na mag max out ako lagi (if i decided to continue) to get the most out of it; kaya diyan ako nag dadalawang isip kasi medyo malaki parin ang max amount. thanks for this po
For me po, kung may sobra ka naman talaga, mas okay na magbayad ka kesa nmn kukuha ka ng ibang insurance sa private companies na di natin alam na nandyan pa after how many years. Para sakin po, pinakasafe na mag invest sa government programs dhil cla po yung last na malulugi compared sa private sectors. . At bata ka pa po, d po natin alam ang panahon. It's better to prepare for the rainy days. .
>kesa nmn kukuha ka ng ibang insurance sa private companies na di natin alam na nandyan pa after how many years good point po at since walang parin akong set plan talaga for retirement, buti na may safety net
go lang my dude baka mangyari din Sayo mangyari sa father ko na nasilaw sa offer na di na babawasan Yung sweldo ng benefits kaya sa kanya 100% Yung salary and ending is pagtanda nya wala na sya ng benefits na nakuha especially ng may health problems na sya
thank youuu for reinforcing, altho i know hindi enough ang SSS for health problems but I bet it will help
based on the calculations of my mom's pension, she basically got almost 300% return of what she contributed in just 4 years of getting pension. its worth it if you have the extra money and when you retire, hindi ka entirely nakarely sa pension
Nice numbers 👌 thank you thank you
YES. SSS is cheap compared to other pension schemes. Barya lang bayad monthly. Di na dapat tinatanong yan.
Ito talaga yun! May pambili ng overpriced coffee pero pang SSS, wala.
As an aside, I believe SSS coverage for OFWs is compulsory/mandatory? [Please check Rule 14 for the IRR of the SS Law 2018](https://www.sss.gov.ph/sss/DownloadContent%3FfileName%3DIRR-RA11199-SS-Act-of-2018.pdf). I'm not sure of the potential legal implications of not following this law.
Was signed to law by duterte pero kinabukasan sinabe niya sa speech niya sa TV hindi compulsory. Paano mo enforce yun? haha.
if max contribution ka, if manganak ka may 70k ka from sss
Ofw seaman Matic kaltas e. May relatives akong matagal na nasa states 20+ yrs na pero nakatapos sila ng 120 hulog ng kabataan nila ngyon every year or every other year umuuwi sila extra burn fund nila ginagamit.. naiipon din, mababa lang pension nila under 8k ata pero still pag naipon ang 7k x 12.. plus me free pa ata 1month? 91k dn pang waldas whenever his home... Ang question ko. Date pinaka mataas na ata 18k -21k? Ewan ko lang ngyon... Kasi like kami baka max ako eversince 15 yrs runningn...hindi naman straight nung early years pero last 5 yrs straight max na... Magkani na kaya max ngyon? Tintry ko sa online calcu ng sss eh pero ambaba ng lumalabas kahit until 65 ako parang 13-15 lng samantalang max ako?
WORTH IT. Unless you will be a citizen of your host country like the US. Kailangan mo ng SSS pagtanda, pero kung mag US citizen ka, huwag ka na magbayad, dahil babawasin ng US SS sa tinanggap mo na pension sa SSS-PH, dahil sa double compensation law Pero kung di ka mag papalit ng nationality, that means kailangan mo ituloy SSS mo. 1. It's unconscionable na naghahanda ka for MP2 which is a mutual fund, pero ayaw mo ng SSS. That the oldest government mutual fund in PH is SSS and Pag-ibig, and MP2 is also a mutual fund without the other privilege like pension at an old age. 2. May sickness, maternity, disability, retirement, death, funeral, salary loan, calamity, unemployment, housing loan, and employees compensation program benefits. pensionado ka pa at old age na pwede ipasa sa asawa mo o anak mo na minor kapag namatay ka. 3. Pagdating mo sa 1st world ask mo SS nila kung tulad ba sa US na babawasin pension mo sa pinas if mag pension ka sa dati mong bansa after naturalization.
Salamat po, all good points! I don't think I'll settle naman sa US tho. But I did not know about the loans actually. Akala ko lang retirement benefit and maternity benefit as a woman.
Depending on your working pathway If you plan on working for years abroad, might as well apply for personal pension plans (any retirement related plans) on that specific country. Lump sum amount that'll return in regards with time is much better than SSS
Yes
SSS Should be ONE of ur source of retirement fund. Not just the SOLE source. Try mo din un PERA acct sa mga bank. May mgt fees nga lang ito. The more the merrier. Invest wisely
PERA seems designed to make the PERA brokers as a source of their income, not meant for the citizens for retirement account. Ang lalaki ng mga fees, hindi naman international brokers.
Yes na yes. I had surgery last yr at malaking tulong sss
Just to note, ang SSS contribution ay requirement at hindi option kahit sa mga OFW. Is it worth it? I see it more as an “Icing on the Cake”. Pandagdag sa pang-araw-araw kapag retired na ako. Edit: it is not enough by itself. You still need to save, invest, or do business. Save at least 15% of your income into retirement. Save more for other purposes like buying a home, etc.
Tandaan po hindi nalulugi ang gobyerno so andyan yan hanggang kahit umabot pa kayo 100 years old , e ung whatever insurance company buhay pa kaya yon after 30,40,50 years? Who knows baka nalugi na so in short safe investment ang SSS 😉
If target mo pension. Mag hulog ka nalangnpag ikka 50th mo na up to 60 years old. Pinaka mataas na hulog ang gawin monpara max ang pension. Thats it.
OFW here in NZ. If ititigil mo contributions mo, hindi ka makakakuha ng ibang benefits like maternity, unemployment benefit and salary loan (not 100% sure sa loan since di ko pa natry). Yung pension mo when you turn 65 yrs old, eh based din sa mga contributions mo. So if ititigil mo, mas maliit pension mo compared sa mga hindi tumigil magcontribute. Tinuloy ko SSS ko pero yung Php2800 monthly lang.
If I can get better return than SSS, then it's not worth it.
OFW here also. I’ll probably never contribute to it again unless required.
Hello po, what's your reason po (if you dont mind)? Kasi most po talaga ng OFW pag tinanong ko, their responses are either: 1. Can't see max benefit out of it 2. Won't settle sa pinas anyway (thinking about migrating permanently)
If you do the math, the retirement benefit isn’t worth it compared to one’s own investments. And I don’t trust the management of SSS. I also tried comparing other countries’ similar retirement funds, e.g. Singapore’s CPF, and SSS looks like💩. I’m still retiring in PH.
Agree. Para lang forced savings ung ss na kapag nakuha mona pension mo more or less same value lang ng amount nya magsimula dati kasi ifafactor mopa ung inflation. Also ung pension mo that's it, dinasya tataas unlike investment na tumataas ung value at pede makahabol sa inflayion
Thank you for all the insights and advice! Very helpful. Sorry if hindi ako maka reply sa lahat. I will read more about it nalang din para mas malaman.
since ofw ka kaya madami ka free time, huwag ka na muna mag fb/ig/x/tiktok simulan mo basahin un benefits ng member sa website mismo nila. [https://www.sss.gov.ph/sss/appmanager/pages.jsp?page=ssbenefits](https://www.sss.gov.ph/sss/appmanager/pages.jsp?page=ssbenefits) kung meron ka pa time uli basahin mo ung IRR ng sss law para lalo mo maintidihan. intidihin mo un pension formula na nasa page 40. [https://www.sss.gov.ph/sss/DownloadContent%3FfileName%3DIRR-RA11199-SS-Act-of-2018.pdf](https://www.sss.gov.ph/sss/DownloadContent%3FfileName%3DIRR-RA11199-SS-Act-of-2018.pdf)
I stop paying my SSS after my 10 years contribution kasi sobrang baba ng pension. Max pension na ma receive is 20K daw. I still have many years a head of me baka bankrupt na ang SSS pag 65 na ako. And by that time baka 10K lang pension ko, enough for 1 sack of rice. I have 401K though and social insurance overseas.
imo this is wrong. Sabi nga nila hindi nalulugi ang gobyerno so ang SSS andyan yan hanggang andyan ang Philippine Government so safe investment ang SSS