SSS Pension Calculator | How to Compute SSS Pension?

The Social Security System has an exclusive pension program that gives a monthly allowance to qualified members who have already contributed a certain amount over a specific number of years.

SSS Pension Calculator

Keeping track of your contributions and making an estimate of your allowance can be intimidating, especially if it is your first time.

However, do not worry; here is your one-stop SSS pension calculator to get a realistic idea of how much you will receive in this program.

How to Compute SSS Pension?

When it comes to SSS pension, there are three factors that count in computing your final claims. Let me discuss them in detail, so you can calculate your pension claims.

Average Monthly Salary Credit

This amount is essential to your monthly salary range. For instance, if a person has a monthly salary range from PHP 16,250 to PHP 16,749, their MSC would be 16,500. You can check the exact MSC from the contribution table by visiting the official SSS website, as it might be different for self-employed, voluntary, or other types of employees.

Contribution Period

The second important factor is the contribution period, which is the number of months you have been making the contributions. Totally, the requirement for this period is at least 120 months with at least 36 of the contributions before the employee makes the retirement claims.

Understanding the Retirement Age

In addition, it is equally significant to know how your age impacts your retirement prospects and the right way to maximize your benefits using this age. For instance, if you opt to retire early, there is a higher chance that your monthly pension payments decrease. That said, delaying your retirement can boost your returns on contributions for each month.

Here, I have tried to explain in this table how these changes affect your total pension claim over time. You may use it as a reference while computing the SSS pension.

Retirement Age	Impact on Monthly Pension	Total Pension Impact
Early	Decrease	Lower Overall
Standard	Standard Rate	Balanced
Delayed	Increase	High Overall

Now that we have a clear idea of what constitutes the SSS pension, here are three ways you can use it to compute the SSS pension.

1. PHP 12000 if the credit years of service is somewhere between 10 and 20 years. PHP 24000 if the credit years of service is 20 years or more.
2. PHP 300 + 20% of the average monthly credit salary + 2% of the average monthly salary credit for each credited year of service in excess of ten years + PHP 1000.
3. 40% of the average monthly salary credit + PHP 1000.

How Much Pension Will I Get from SSS After 10 Years?

The SSS pension for retirees for the contribution period of 10 years or 120 months is around PHP 3,400. However, please note that it is not the exact amount, as it varies depending on your contribution period as well as your monthly average salary credit. Hence, it is always better to use a reliable calculator to compute the pension amount.

How Much is the Maximum SSS Pension?

The SSS pension of employees is totally dependent on the monthly salary credit and the number of years you have made contributions. For instance, the higher the MSC is, the longer you will pay the contributions, and the higher your pension will be. That said, the maximum SSS pension for retirees in the Philippines is around PHP 18,495.

SSS Lump Sum Claim Requirements

To claim the lump sum of your pension claims, you must be an active SSS member, of at least 60 years (or 55 years in case of underground mineworker) for voluntary retirement or 65 years old (or 60 years in case of undergraduate mineworker. Moreover, you must have made at least 120 monthly contributions up until they claim the amount.

SSS Lump Sum Claim How Long?

The SSS gives you the option to remit your pension in a lump sum payment through the designated bank or the nearest SSS branch. In the case of lump sum claims, you can choose to receive the first 18 months of the pensions at a discounted rate, as determined by the SSS. After this, your monthly pension will resume from the 19th month.

FAQs

Finally, I hope now you are better equipped to get an idea of how much money you can get under the SSS pension program. Please note that it may not give you the exact amount; but rather an estimate. You may visit your nearest SSS center to get an accurate estimate.