How Much Is His SSS Pension? Paid 280 Months at Maximum

Ramir wrote his message about SSS pension computation:
“Hi, I’ve paid more than 280 months at maximum. How much will be my lump sum for 18 months?”

 

My short reply is 137,800 pesos.
Please remember this is NOT ACCURATE. It’s only my estimate. Surely the CYS I used is not accurate.
The CYS formula for the years January 1985 to December 2001 is different. I need your actual CYS to arrive at an accurate computation.
sss=pension
My longer reply:
In order to see the most accurate computation of your SSS pension, login to your SSS online account,
Select E-Services, then click Inquiry.
Select Eligibility, then click DDR – Funeral
Enter your earliest date of retirement: MM-DD-YYYY
(Your birthday and year of birth + 60)

I have a more complete post here: How to Check Your SSS Pension Computation Online

If you haven’t enrolled in the SSS Online System, here’s How to Enroll in Online SSS
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My estimate of your Monthly SSS Pension
I can try computing your SSS pension and 18-month lump sum.

I will assume that your Credited Years of Service (CYS) is 23.
Why 23? It’s from 280 months/12 months = 23.33 years

I’ll set your Average Monthly Salary Credit (AMSC) at 16,000 pesos.
You said you always paid the maximum SSS monthly contribution,
so your AMSC for the past 60 months is 16,000 pesos.

Now, I’ll use the first SSS pension formula:
40% of AMSC
= 0.40 x 16,000 pesos
= 6,400 pesos

I’ll try the second SSS pension formula:
300 pesos
+ 20% of AMSC
+ 2% of AMSC x CYS in excess of 10

300
+ 0.20 x 16,000
+ (0.02 x 16,000) x 23 – 10

300
+ 3,200
+ 320 x 13

300
+ 3,200
+ 4,160

= 7,660

7,660 is higher than 6,400 and is obviously higher than the minimum 1,000

Your estimated SSS monthly pension is 7,660

How does my computation compare with the pension amount in your SSS online account?
I hope you can comment again.

Notes about CYS computation:
What is CYS?
CYS is the number of credited years that you paid contributions to SSS.

How do you calculate your CYS? Based on your number of monthly SSS contributions.
SSS have set different rules on computing CYS due to changes in SSS policies over the years:

For monthly contributions from January 2002 to present:
CYS = Total number of monthly contributions divided by 12

For monthly contributions from January 1985 to December 2001:
CYS = Number of calendar years that you have 6 or more monthly contributions

For years prior to January 1985:
CYS = 1985 minus the year you started paying to SSS

Read More: How to Compute Your Monthly SSS Pension

2 Comments

Add a Comment
  1. You can increase your pension but the increase is negligible, like 5 pesos only.

    SSS is an investment of diminishing returns. Best to just pay the 120 payments and max out payment for the last 60.

  2. I’m satisfied with your answer. Need to know if beside lump sum of 18 month is there any other compensation I can get. If none why should I continue to pay monthly SSS contribution, whats the benefit.

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