Values Ss Membership

8/13/2019 Values Ss Membership

1/12


2/12

2

Value of SSS Membership

Becomes SSS member Reaches compulsory retirement

TYPICAL WORKER-MEMBER: WITH 20 SERVICE YEARS

25 y.o. 35 y.o. 45 y.o. 55 y.o. 65 y.o.

RETIREMENT BENEFITS(plus 13th month pension)

Contributions

(20 years)

Pensions

(20 years)

Min P24,960 P624,000

Max P374,400 P1,638,000Up

to 25x in return


3/12

3


Worker dies; with 1 qualifying contribution DEATH BENEFITS

(plus P20,000 Funeral Grant)

Contributions

(1 month)

Lump

SumMin P104 P32,000

Max P1,560 P92,000Up

to 308x in return

25 y.o. 35 y.o. 45 y.o. 55 y.o. 65 y.o.


4/12

4


Worker gets sick for 120 days; with 3 qualifying contributions

SICKNESS BENEFITS

Contributions

(3 months)

Cash

AllowancesMin P312 P1,800

Max P4,680 P27,000Up

to 6x in return

25 y.o. 35 y.o. 45 y.o. 55 y.o. 65 y.o.


5/12

5


Female worker gives birth; with 3 qualifying contributionsMATERNITY BENEFITS

(Normal: 60 days / Caesarian: 78 days )

Contributions

(3 months)

Cash

Allowances Min P312 P1,000 / 1,300

Max P4,680 P15,000 /19,500

Up

to 4x in return

25 y.o. 35 y.o. 45 y.o. 55 y.o. 65 y.o.


6/12

6


Worker is partially disabled for 2 years; with 36 qualifying contributions

PARTIAL DISABILITY BENEFITS(plus 13th month pension & Supp. Allowance)

Contributions

(36 months)

Pensions

(2 years)

Min P3,744 P39,000

Max P56,160 P169,000Up

to 10x in return

25 y.o. 35 y.o. 45 y.o. 55 y.o. 65 y.o.


7/12

7


Worker is totally disabled; with 36 qualifying contributions TOTAL DISABILITY BENEFITS

(plus 13th month pension & Supp. Allowance)

Contributions

(36 months)

Pensions

(5 years)

Min P3,744 P97,500

Max P56,160 P422,500Up to 26x in return

25 y.o. 35 y.o. 45 y.o. 55 y.o. 65 y.o.


8/12

8


Worker dies & leaves primary beneficiaries; with 36 qualifying contributions

DEATH BENEFITS(plus 13th month pension & P20,000 Funeral Grant)

Contributions

(36 months)

Pensions

(5 years)

Min P3,744 P85,000

Max P56,160 P410,000Up to 23x in return

25 y.o. 35 y.o. 45 y.o. 55 y.o. 65 y.o.


9/12

9

Member-

pensionerdies

Primary beneficiaries continue to receive

100% of monthly pension for life

SURVIVORS’ PENSION

(plus P20,000 Funeral Grant)



10/12

10

/a Based on 240 monthly contributions (20 years) paid in 1980-1994 & 2005-2009 (w/ 10-year gap in 1995-2004)

/b Retired at 65 y.o. in 2010; Based on pension period of 10 yrs. , with funeral grant of P20,000

Minimum

Case

P 7,184

P104

P 332,000

P2,400

Maximum

Case

P 131,328

P1,560

P 839,000

P6,300

Credited Service: 20 Years

Pension Period: 10 Years

Contributions Paid /a

Last Monthly Contribution

Benefits Received /b

Monthly Pension

Contribution-Benefit Ratio P1 : P46 P1 : P6

Value of SSS Membership(Actual Member Cases)


11/12

P 1,658,000

P6,300

P 644,000

P2,400

Benefits Received /b

Monthly Pension

11

/a Based on 240 monthly contributions (20 years) paid in 1980-1994 & 2005-2009 (w/ 10-year gap in 1995-2004)

/b Retired at 65 y.o. in 2010; Based on pension period of 20 yrs. , with funeral grant of P20,000

Minimum

Case

P 7,184

P104

Maximum

Case

P 131,328

P1,560

Credited Service: 20 Years

Pension Period: 20 Years

Contributions Paid /a

Last Monthly Contribution

Contribution-Benefit Ratio P1 : P90 P1 : P13

Value of SSS Membership(Actual Member Cases)


12/12

Thank you for your time…

End of Presentation

Values Ss Membership

Documents

Transcript of Values Ss Membership