Last updated on January 2nd, 2017 at 01:29 pm
Update July 16, 2013:
SSS has suspended the implementation of SSS Circular No. 2013 – 003, which is the source of our article below.
Kaya yong mga nakasulat na changes at instructions dito ay hindi VALID at hindi muna ipinapatupad. We will wait for further updates.
If you’re now nearing 65 years old
and you know that you will not be able to accumulate the 120 monthly contributions required for SSS pension,
and you want to continue paying after age 65 to accumulate 120 contributions,
there are new rules now:
1. You need to submit to SSS your Application for Voluntary Payment of Contributions for Members Aged 65 Years Old or Over.
2. Dapat nakapagsimula kang nagbayad sa SSS at age 55 or younger.
3. Dapat din na sa age 65, nakapagbayad ka na ng at least 80 contributions.
When should you submit your application?
Within the month following your 65th birth month
Para hindi ka magahol sa oras, at para hindi mo makalimutan, mag-submit ka na agad pagkatapos ng 65th birthday mo.
How much would be the monthly contribution?
It should be the same amount as your monthly contribution at age 65.
Can you decrease your monthly contribution?
No. You will pay the same amount all throughout until you complete 120 contributions.
If you decrease your contribution, you will instructed to claim your lump sum, and you will lose your chance to qualify for pension.
Can you have gaps in monthly payments?
No. If you miss 1 month, you will be instructed to claim your lump sum.
Late payments will not be accepted.
Can you pay more than 120 contributions to get a higher pension?
No. You will stop paying as soon as you accumulate exactly 120 contributins. Any excess will be refunded to you.
How About Those Who Are Already 65 Years Old or Older before the signing of this circular?
SSS members who have turned 65 years old before April 1, 2013 and who have not accumulated 120 contributions can continue paying. But they must file with the SSS their Application for Voluntary Payment of Contributions for Members Aged 65 Years Old or Over.
They are exempted from the No. 2 and No. 3 requirements above. This is because they turned 65 years old before the new rule was created.
Deadline for application is July 1, 2013.
If they miss this deadline, they will be instructed to claim their lump sum benefit.
Source: SSS Circular No. 2013 – 003, effective April 1, 2013, signed by SSS President and CEO Emilio S. De Quiros Jr.