Additional savings in SSS is accepted and available to those who have the capability to invest more money to get bigger benefits in the future in return.
SSS P.E.S.O (Personal Equity and Savings Option) Fund is exclusive for SSS members but not necessarily a compulsory to individual.
The main purpose of SSS Peso Fund is to help people to save more from their excess fund. Why
Why might you be interested in SSS P.E.S.O Fund?
- It gives you better and secured benefits in the future.
- The tax and benefits that you will receive is tax-free.
- The earning you will receive is guaranteed.
Who are qualified to join the SSS PESO Fund?
Self-employed (SE), Employees, and Voluntary Members (VM) can join in the SSS Peso Fund, but same with SSS benefits, PESO Fund have their requirement that individuals should meet.
- The member should be 54 years and below.
- Under the regular SSS programs, there are contributions that members should pay. To get accepted by SSS to join the SSS PESO fund, he/she must have paid the maximum amount for the said SSS programs.
- Within the twelve (12) months before start of enrollment, he/she must have paid for at least six (6) consecutive months for the SSS program.
- He/She did not file a final claim with any of regular SSS program.
The members who enrolled to SSS PESO Fund can start their contribution at the moment they have excess funds. Before the members could contribute to this program, they should have regularly contributed to the regular SSS programs based on their Monthly Salary Credit (MSC).
The maximum amount the member should contribute is PHP100,000 per year and PHP1,000 for every contribution.
SSS PESO is allocated into three (3) types of account:
- 65% with guaranteed earnings based on T-bond rates are given to retirement or total disability.
- 25% with guaranteed earnings based on 364-day T-Bill rates are given to medical.
- 10% with guaranteed earnings based on 364-day T-Bill rates are given to General Purpose like education, housing, livelihood, and unemployment.
FAQ’s
When does the membership start in SSS PESO Fund?
- It starts from the moment of their first payment or contribution to the fund.
Are withdrawals allowed in SSS PESO Fund?
- Money withdrawals from retirement/total disability account are not allowed in SSS Peso Fund. Withdrawals are only allowed from Medical and General Purpose which are 25% and 10%.
When will the SSS members get their benefits from SSS PESO Fund?
- They will receive their benefits from PESO Fund after they file their retirement or their total death or disability claim from their SSS regular program.
- Member’s contribution and earnings from the SSS PESO fund are the member’s retirement or a total of disability benefits. The SSS member may opt to get their benefits in their monthly pension, lump sum and the combination of both.
- In terms of death benefits, the member’s beneficiary will receive their benefit from SSS by lump sum.
Start applying now and receive bigger benefits from SSS!
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