Ever think about the amount you will get from SSS after you retire? Well firsthand, you need to know that in order for you to have this benefit, contribution amount and time are the variables in order for you to weigh if you will have a pension or not. So in this article, we will be telling you all about the monthly pension and how you can compute for it.
Before going deeper with the calculation, we first need to know the types of people who are eligible for the monthly pension:
A member who is 65 years old whether employed or not has paid at least 120 monthly contributions before the semester of the retirement.
A member who is 60 years old separated from employment or ceased to be self-employed and has paid at least 120 monthly contributions prior to the semester of retirement.
Of course, there are steps you need to follow prior to computing how much you can get for the monthly pension once you decide to retire.
Step 1: Check your Contributions
First of all, you need to know how much contributions you are putting monthly into your SSS profile. You can do this by asking your Human Resources Team (HR) if you are employed, or you can call SSS directly and ask for your contributions via a representative. Alternatively, you can search for it online if you have registered for the online viewing of your transactions.
1 thought on “How to Compute SSS Monthly Pension Using SSS Formula”
Sir, what AMSC will be used for the computation of sss pension? Will it be the current AMSC or the average of the last 5 years of AMSC? In my case, my last 5 years includes AMSC of 16,000 for 2017 to 2019, 20,000 for 2019 to 2021 and 25,000 for current.
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Sir, what AMSC will be used for the computation of sss pension? Will it be the current AMSC or the average of the last 5 years of AMSC? In my case, my last 5 years includes AMSC of 16,000 for 2017 to 2019, 20,000 for 2019 to 2021 and 25,000 for current.