on ACOP

Forgot to do your annual ACOP?

Well, once your pension gets suspended - you have to go visit the nearest SS branch.  Why? 

The nearest SSS branch is a better choice than the bank because you would not have to contend with the bank's schedule (whenever that would be) of informing SSS.

Now, if you finally get to do your ACOP, it will take a minimum of 2 months to reinstate this.  

The reason for the apparent length of time is SSS processes pensions a month ahead of time.  Thus, March pensions are generated and deposited to the banks by February.  So, if you do your ACOP say in January, the earliest your pension will be reinstated is March, and that is - if you are lucky enough to make the cut-off for encoding transactions prior to the processing.

Nothing will make this faster, not even if you complain.  It is a matter of batch processing and cut-offs.  Not even if you call SSS every hour. 

Reminders for New Pensioners

If you recently retired at age 60, please remember that if you get employed, even just part-time, your pension will be stopped for the duration of your employment.

However, at age 65 - it does not matter. You can work but your pension will continue.  Just make sure your employer no longer will deduct for your SSS.

for OVERSEAS PENSIONER

Just a little update.... but i think i need to get a bigger version.  will repost

PNB loans for SSS pensioners.

here's the Star take on this piece of news

more about the SSS Pensioner loan from PNB

here's a follow-up story regarding the PNB loan
this is from Businessmirror, page b2, 18 June 2015

Did you hear about the SSS Pensioner loans - from PNB?

Here is the relevant press data or should i say picture
Basically, this loan is being offered by PNB so only pensioners whose pension accounts are with PNB can avail of this loan.  So please apply to PNB directly.

Pensioners who wish to transfer their pensions accounts to PNB must first inform SSS, get the new forms, open an account, inform SSS of the new account, and leave the old account open until SSS deposits to the new account.

SSS Advisory to Pensioners

Just keeping you abreast of news in the Social Security System

If you are an SSS member and have a child who is or may be incapacitated for life?

If so, please ensure that you provide SSS with the necessary information and proof of your child's "incapacitation" or disability or mental health, whatever is the cause - this means that your child will never be emancipated upon reaching maturity.

Moreover, should you and your spouse pass on, your total pension will be given to the child, who must be under the care of a guardian.

An example would be a person with Down's syndrome -  this is a person with an extra copy of a chromosome.  Most individuals with Down's syndrome only reach the age range of 8-12 years old, and will never have the mind and maturity of an adult.

There are other diseases that can incapacitate a child - for example, if the mother was pregnant when she got ill with say scarlet fever - that will affect the child.

Inform SSS as early as you can so that SSS can already tag the child's record so that she/he will receive a pension for the rest of his or her natural life....

SSS re-posting = Manual Verifications for 1985-1989

You have probably seen this a few times in newspapers - or perhaps heard discussions on the air via radio or television -

Basically, this means that the contributions  for the period January 1985 - December 1989 that may be missing and these missing contributions could substantially affect long term benefits such disability and retirement.  These contributions, however, will NOT affect short-term benefits such as sickness, maternity, and salary loans.

Although SSS will accept requests for manual verification, these will not be processed until after December 2015, which is the target end date of the project.

However if you know and therefore believe in Murphy's Laws, then add another 6 months to that, so that would be after the elections of 2016 - another administration.

However, pensioners should not worry about the adjustment, if any, this will be given to them - but it is to be hoped that it will not be posthumously - so take care all of you pensioners

More discussions on Circular 2013-003 and the AlkanSSSya program

if you readers are familiar with the Social Security System, Horace T. Templo is the former Chief Actuary and EVP of Operations.

Click here for Horace Templo's discussion of 2 SSS initiatives - Age 65 and over Circular 2013-003 and the AlkanSSSya program

There has been a lot of discussions about this Circular.

i suggest reading the following sections in the SSS Law (RA 8282)

Section 9 on Coverage.
Section 12-B on Retirement Benefits.
Section 13 on Death Benefits.

Let me know your conclusions.

Click here to read the SSS Law (RA8282) and the Sections

It is likely that this circular will be suspended/withdrawn.

HTT's post on Hiring the Retired, Manila Standard Today 08 Feb 2013

very interesting post of HTT today.
he gets no arguments from me

may i urge you to read it

the title reflects his discussion

Click here for the full post of HTT on hiring-the-retired

Requesting for Data Changes for a Pensioner

this is the form to be used to request for changes in Pensioner Data.
Will add details/procedures later.... please return to this post

Additional ACOP information - especially for those overseas

All pensioners must present themselves for ACOP during their contingency month:
     for total disability pensioners - the month of disability
     for death pensioners (survivorship) - the month of the member's death
     for retirees - month of retirement, or birthday (when the member turned 60)

Retiree and Death pensioners can report to their banks so that the ACOP compliance done at the bank can be turned over to the Jr/Sr Member Service Representative, Members Service Section of an SSS branch.  This is ANY SSS branch.  All others must report to the same person interacting with the banks.

REQUIRED DOCUMENTS
Pensioners who will report personally need only the accomplished ACOP form and the SSS Card, or if without the SSS card, 2 valid IDs

Persons who are unable to report personally need the documents above as well as 
     Sketch of Residence and Barangay Certification of pensioner's existence
     if confined in a Home or other such places,  Certification from such Institution
     for residents abroad, valid passport or any 2 valid IDs issued by the country with photo and signature
     for disability pensioners abroad,  Complete physical examination report done within three months
          prior to the last day of compliance and certified by a physician indicating his license number
          and clinic address;  AND  Laboratory or other diagnostic examination results applicable to disability