Reminders for SSS Members

This is just to remind SSS members what to do NOW, not later

If this sounds "what, not again ......", it is because I think it necessary.

It is only because people tend to let things slide and then have to scurry to accomplish things when the need comes upon them.  Dont wait for that time. Do it now, and at your leisure, and do it at one time.

1. Make sure you have only one SSS number and make sure you have it memorized.

If you have more than one, go to SSS NOW and start the process of combining contributions in each of the SSS number to just one.  SSS usually picks the "oldest" SSS number.  You should memorize your SS number because this is the main number for transacting with SSS.  

2. Ensure that your heirs, whoever they may be, can have access to it should the need arise.

I suggest that you have an envelope, preferably a thick plastic one (so it will last for a bit), and put your legal papers in it.  For example, policy information if you have insurance policies, life plans, and memorial plans.  If you have a will, you can put this is in the same place.  If you are ultra rich, make sure you have a backup copy of your will and all your wills should be dated.  I digressed a bit, but i hope it was helpful.

3. Make sure that your FULL name is correct and is supportable by either a live (active) passport or an NSO-issued birth certificate.

This measure is supposed to prevent/minimize fraud so SSS is quite strict about the matter.

4. Make sure that your DOC - Date of Cover - is CORRECT.

The DOC is the date wherein you first registered in the SSS database, via the initial contribution.

Problems with this will delay processing of your benefits.

5. Take note of all your employers.  Check that all employers are accounted and properly "logged".

This also means that there are no "stray" employers and that all your employers are registered in the database.  This will assist in making your life simpler.  Also, be sure to remember who these are - because, upon retirement you will be asked to write/list them down.  Also check that all contributions of each employer are posted.  Do this now, not tomorrow.

TABULAR SUMMARY OF SSS BENEFITS

Just a simple tabular summary of SSS benefits -  as released by CCD, PASED

This table will allow you, the readers to look at the benefits at a glance.

All computations are based on the MSC or monthly salary credit.

It must be remembered that SSS does not allow huge jumps in the MSC from one period to the other so that the ANC coverage is very misleading and rather irresponsible (from minimum to maximum was the example) - but this is simply my personal opinion.  This is already discussed in another post and will not be repeated here.

Some members who think they are very hip in mathematics and finances often demand interest payments on contributions.  May I ask these members to please temper their arrogance and think about not being too da*n selfish.  They should also think about trying to get a private insurance policy - on retirement - and see if they can get a rate as good as that of the SSS.

Most people think that SSS exists for themselves.  They demand huge increases without thinking of the consequences.

Wake up people.
SSS is a form of social taxation.  The higher paying members subsidize the lower paying members.

Friends and acquaintances who are rich and famous shrug off SSS pensions, calling it useless.
Money, my dear friends, is never useless

note:  there is an increase in funeral grant that is not yet reflected in this summary

you can find this same table on the sss website


click here to view the table on the sss website

Requesting things from the SSS

Like any other government office, transacting with SSS requires knowledge of procedures, forms, and locations.  It is rare that SSS makes announcements to the public regarding changes in their forms so in this blog, i try to update my readers on forms that have changed, in the belief that knowing which or what forms to use may assist them in transacting with the institution.

Here is the new form:

More on the SSS-PESO Fund --- here's the brochure

 Read about the SSS Provident Fund.
SSS calls it SPF, not to be confused with SPA.

.. as for me, i'm going for the Pag-ibig fund. why, there are less restrictions
to be frank with you, readers - the return is supposed to be greater under the SPF than Pag-ibig 2

SSS UMID cards - An SSS Advisory

Just to make sure you are kept abreast of SSS media advisory of the release of SSS UMID cards

Becoming an SSS Member

Some new graduates think that paying to the SS as a volunteer member is a good thing to do so that they can get an SSS ID.

No.  One cannot start to be an SSS member by joining as a voluntary member.  If you persist, you will have problems later on when you start to claim your benefits - when you need it - so do not give yourself a headache.....

One can become an SSS member IF AND ONLY IF
             one is hired as an employee  OR
             one is self-employed

self-employed individuals are those who are in business for themselves or those who practice their profession ....

NOTE:  There are exceptions for OFWs