Let’s face it, no matter how financially fulfilling our incomes may be, for now, there will come a time where this will all stop, and we won’t be able to cherish the 15th and the end of the month just as the way we used to. Retirement years will come, and the truth is as young as you can, you should already be foreseeing how you will be financially capable through those years of your life.

That is why, as we all know, preparation is absolutely a crucial thing we should give an active consideration about. Why? Well, we can’t just consistently work today so that we could feed ourselves in the future, can we? I mean, the truth is, we have these long lists of urgent financial necessities that we must comply for now, which makes the ability to save that “sufficient” amount of money that you need for your retirement years seemingly unreachable if only you’ll give attention to it when it’s already too late.

To give you a hand for that, here in our country, we have different trusted insurance institutions which we can depend on, one of which is SSS- trusted, government-handled and one which could definitely help you sustain your economic needs in the later years of your life. Which in the process will allow you to invest the funds that are targeted to accumulate and grow over the future tens of years. Thus, assuring you that your future needs will be substantially covered.



Retirement beneficiaries are entitled to a monthly pension or lump sum amount which will be given to the beneficiary completely at a single period.

Monthly pensions are computed thru the following formulas:

  1. 300 + (20% x AMSC*) + (2% x AMSC) x (CYS** – 10);
  2. 40% x AMSC; or
  3. The minimum pension of P1,200, if with at least 10 CYS; or P2,400, if with at least 20 CYS,

whichever is applicable.

AMSC is the “Average Monthly Salary Credit” while CYS pertains to your “Credited Years of Service”.

Lump sum amount, on the other hand, is the equal amount to the member’s total contribution, all interests gained included.

A reminder for everyone, any member who wishes to avail the retirement benefits who paid less than the needed 120 monthly contributions will be given the opportunity to complete the required contributions to avail the full benefits thru the monthly pension scheme.

Also, in case of death, the considered primary beneficiaries among the held dependents is granted an equal amount of the monthly pension.


To be qualified for the retirement benefits, you must present only the original and submit the photocopy of valid ID cards/documents used for authentication processes-

Also, you must submit the following original/certified true copy of supporting documents:



If the SSS member him/herself applies for the discussed benefit:

  1. Choose and present only 1 Valid ID cards/documents among the ff:
  2. SSS ID Card
  3. UMID Card
  4. PRC ID Card
  5. Passport
  6. Driver’s License
  7. Seaman’s Book (Seafarer’s Identification & Record Book)


  1. SSS Forms:
  2. SSS Retirement Claim Application (RCA) Form; or Application for DDR Benefit under the Portability Law, if applicable
  3. Member’s Photo and Signature Card


  1. Single savings account passbook/ATM/UMID card enrolled as ATM/accomplished debit/cash card enrollment form

Note: If the name of a member and/or savings account number is not in the ATM card, submit either:

– Copy of duly-validated deposit slip; or

– Copy of bank statement/certificate

Special Cases:

A married female member must submit a Marriage Contract or Certificate if her ATM card is still under her maiden name.

If a member cannot open a savings account or cannot apply for debit/cash card, submit a written request for exemption from the Pensioner’s Remittance Program stating the reason for the request.

If a chosen representative applies for the discussed benefit:

All of the above documents in Item I. A and B, with:

  1. Valid ID cards/documents of the representative; and
  2. Letter of Authority (LOA) signed by the member; or Special Power of Attorney (SPA)

specifically stating the authority to file and sign for and in behalf of the member.

Note: LOA/SPA should be valid within six (6) months if issued in the Philippines or one

(1) year if issued abroad.

All equivalent ID cards/documents with English translation issued by a foreign government shall be accepted.

Final reminders to get the most out of your retirement benefits:

Well, what more could serve as the most needed reminder but to say that you must be an active member of the retirement benefit program of SSS, so that all possible unnecessary hassles and delays will be avoided. Adhere to the many ways needed for the preparation of your future- because no one else will be sacrificing theirs just to prepare yours, you are on your own.

Live for today but as well as seek to assure that you’re not putting into any risk the future that is in your control.



Social Security System- Republic of the Philippines Official (2016).  SSS Guidebook for Retirement. Retrieved from

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