If you are 60 or more and are still employed, you obviously cannot get your SSS pension yet.
If you are 60 and not employed, you can already apply for your SSS pension provided you meet the required 120-months contribution.
If you are 60 and more, and not employed, and lack the 120 contributions, you can still continue to your contributions IF you wish to have a pension.
If you worked in the government sector (and thus had contributions for gsis), dont forget that you can combine the years of contribution for totalization
I’m 54 yrs old and I avail of company’s early retirement last 2003.
ReplyDeleteMy total contribution was 239 months(Almost 20yrs).
My contributions are in maximum bracket base on
SSS contribution table year 2003 which is PHP1410 with MSC of 15000.
Here’s the problem, Base on the SSS contribution table for 2014 the PHP1410 made last 2003 will fall on MSC of 13500.
I stopped paying my SSS contribution last September 2003.
When I reach the age of 60, which MSC will be the basis for calculation ?
Based of 2003 Table: P300 + (20% of 15,000.00) + (2% of 15, 000.00 for 10 years)
P6275
Based on 2014 Table: P300 + (20% of 13,500.00) + (2% of 13, 500.00 for 10 years)
P5677.5
Difference of P597.5
the msc does not change with the contribution rate.
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