59 YEARS OLD KA NA BA?

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SANA naman by now may hulog ka na sa SSS ng at least 60 months (5 years) contributions para sa lumpsum benefit.

Better kung 10 years na para may pension ka kapag nag-60 years of age ka na. 

P8,000 ang minimum pension mo kung P20,000 ang Average Monthly Salary Credit (AMSC) mo for the last 60 months na contributions mo.

That is, kung may 120 months (10 years) or more total contributions ka na sa SSS when you retire.  Aabot pa ng P12,300 minimum pension mo kung naka-30 years; P16,300 kung naka-40 years.  May dagdag pa kung may WISP ka (kapag more than P20,000 ang salary bracket mo.
 
P7,000 ang minimum pension mo kung P17,500 ang AMSC mo. 
P6,000 kung P15,000… 
P5,000 kung P12,500… 
P4,000 kung P10,000… 
P3,000 kung P7,500… 

MALIBAN DYAN MAY P1,000 PENSION INCREASE PA.

AMOUNT OF MONTHLY PENSION
(the highest amount among these 3 formulas)

Formula 1:  P300 + (20% x AMSC) + [2% of AMSC x (CYS-10)]
Formula 2:  40% x AMSC
Formula 3:  Minimum Guaranteed Pension:
     P1,200 per month if with at least 10 CYS
     P2,400 per month if with at least 20 CYS

SAMPLE Computation (#1):
Given:  AMSC = P20,000
            Credited Year of Service (CYS) = 10

Formula 1:  P300 + (20% x P20,000) + [2% of P20,000 x (10-10)]
                   P300 + P4,000 + (P400 x 0)
                   P4,300 + 0
                   P4,300

Formula 2:  40% x P20,000
                   P8,000 (the highest among these 3 formulas)

Formula 3:  P1,200 (minimum pension if with at least 10 CYS)

SAMPLE Computation (#2):
Given:  AMSC = P20,000
            Credited Year of Service (CYS) = 30

Formula 1:  P300 + (20% x P20,000) + [2% of P20,000 x (30-10)]
                   P300 + P4,000 + (P400 x 20)
                   P4,300 + P8,000
                   P12,300 (the highest among these 3 formulas)

Formula 2:  40% x P20,000
                   P8,000

Formula 3:  P2,400 (minimum pension if with at least 20 CYS)

Kung 5 years or more pa lang ang contributions mo at wala pang 10 years, sana maituloy mo pa ang paghuhulog mo sa SSS para makapension ka. 

Kung may 10 years na contributions ka naman na at kaya mo pang ituloy ang paghuhulog, nasa sa iyo na yan, para mapataas mo pa ang pension mo. 

May dagdag kasi na 2% ng AMSC (Formula1) for every Credited Year of Service (CYS) mo in excess of 10 years.  (Although, parang about 20 years pa talaga bago maramdaman ang additional na 2% ng AMSC sa pension computation using Formula1 versus Formula2 computation.)

Magkano ang kakailanganin mong ihulog monthly at least for the last 5 years ng contributions mo? 

For 2024 (14% contribution rate):
P1,050 kung P3,000 ang target pension mo. 
P1,400 kung P4,000... 
P1,750 kung P5,000... 
P2,100 kung P6,000... 
P2,450 kung P7,000... 
P2,800 kung P8,000... 

For 2025 (15% contribution rate):
P1,125 kung P3,000 ang target pension mo. 
P1,500 kung P4,000... 
P1,875 kung P5,000... 
P2,250 kung P6,000... 
P2,625 kung P7,000... 
P3,000 kung P8,000... 

Mabigat kung tutuusin pero parang investment lang yan, bawing-bawi mo naman yan kapag nagpension ka na. 

In about 3 years, bawing-bawi mo na ang lahat ng nai-contribute mo for 10 years or more! 


Location: Philippines
The WRITER in me. Finally, I made up my mind to write an introduction to my “blog” which I have been longing to start for the past several years (procrastination attacks). I don’t think I can write something without reading, again and again and again, on topics that I want to discuss. I guess I am one of those “feeling” writer who cannot just sit in front of the computer and, VOILA, finished an article almost spontaneously. I read a lot on something, repeatedly, copy it, cut some phrases, then write it on my own words and understanding. Thus, the CopyCutWrite. So, anything that I would be putting on this blog is sure to have been reviewed and revised for several times. Though it may still not that flawless, at least it has passed my standards. Anyways, I can always say “I’m still learning” (hahaha). Youtube says, “Note: You're allowed to encourage viewers to subscribe, hit the like button, share, or leave a comment.” It’s a copy-paste this time (hahaha).

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