8 Important SSS Benefits for their Members

Having a SSS number is a pre-employment requirement that should be accomplished. It serves as lifetime identification and plays a big role to enjoy the various benefits that SSS (Social Security System) has to offer to its members.

Once you become a member of SSS you have all the rights to avail the benefits from the agency as long as you qualify for it.

Here are the basic SSS benefits that every new member should know:

1. Sickness benefit – Once you get sick or injured, you can avail from SSS a daily cash allowance to recompense the days that you weren’t able to work. You must have paid at least 3 monthly contributions within the last 12 months before using the benefit. Equivalent to 90% of the average daily salary credit will be given for the daily allowance.
2. Disability benefit – A member who was totally or partially disabled can avail this benefit either through lump sum or monthly pension. If the disabled member has paid at least 36 monthly contributions acknowledged by the agency, he or she will receive monthly pension, otherwise lump sum amount is given. The member can receive Php1,000 to Php2,400 monthly disability pension and additional Php500 for the monthly supplemental allowance.
3. Maternity benefit – The member who will apply for maternity benefit should have paid at least 3 monthly contributions 12 months before the confinement. This is applicable whether normal delivery, caesarian or miscarriage. 100% of the average daily salary credit is the equivalent daily allowance. It is multiplied by 60 days for normal delivery and 78 days for cesarian section.
4. Death benefit – This type of benefit is given to a beneficiary of a deceased SSS member and is given either through monthly pension or lump sum. The minimum monthly contribution is the same with other benefits.
5. Funeral benefit – Aside from the death benefit, the beneficiary can also claim for the funeral benefit of the deceased SSS member. This is applicable to all SSS members, but self-employed, voluntary, and OFW should made one contribution. The funeral benefit amount is from Php20, 000 to Php40, 000 depending the contribution of the member or the years of service.
6. Salary loan – If the member has paid at least 6 monthly contributions within the last 12 months, he or she can avail salary loan. The interest rate is 10% per annum and can renew the loan after paying 50% of the original amount of loan.
7. Employees’ Compensation program – The EC program is given to an employee who acquired injury or sickness due to his or her job. An evaluation will be held to identify the cause of sickness, injury, or death. If the cause was negligence, self-harm, or intoxication, the employee will not receive EC.
8. PESO Fund – The Personal Equity and Savings Option is a program of SSS providing additional savings options for its members. Qualified to avail this program are members who are 55 years old below. You can receive the benefit from PESO Fund upon retirement, death claim, or disability through lump sum or monthly pension.

To avail the benefits offered by the SSS, members should be diligent in paying the monthly contributions.

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