Social Security System

On Short term loans (Updated)

SSS salary loan- a cash loan granted to an employed currently paying self employed or
voluntary member. It is intended to meet the member’s short term credit needs

Eligibility requirements:

1. All currently contributing SSS members

For a one month loan the member must have a 36 posted monthly contribution, 6 of which should be
within the last 12 months prior to the month of filing of application.

For two month loan the member must have a 72 posted monthly contribution, 12 of which should be
within the last 12 months prior to the month of filing of application.

2. The member whose employer must be updated in the payment of contributions.

3. The member has not been granted final benefit, ie. Total permanent disability, retirement,
and death
4. The member must be under 65 yrs. Of age at the time of application
5. The member-borrower has not been disqualified due to fraud committed against SSS

To determine your loan amount

1. a one month loan is equivalent to the average of the member-borrower latest posted 12
monthly salary credit or amount applied for, whichever is lower
2. 2 month loan is equivalent to twice the average of the member borrower’s latest posted
12 MSC, rounded to the next higher monthly salary credit, or amount applied for
whichever is lower

Repayment term and sched of payment

1. The loan shall be payable within 2 years in 24 monthly installments

2. The monthly amortization shall start on 2nd month following the date of loan, which
is due on or before the payment deadline.

Salary loan releases thru DBP PESO NET disbursement service program – checkless
nata krn

If you want to see the list of participating banks for the loan disbursements please see SSS site
What’s NEW?

Deadline of payment

1. If Single payment deadline for all member types every end of the month following the
applicable month
2. If Payment deadline falls on a Saturday, Sunday or holiday, payment may be made on the
next working day.

Interest

Same 10% per annum

Pro-rated interest from the date of loan granting up to the end of the month prior to the
first amortization month shall be deducted from the loan proceeds
PRI is labeled as advance interest

Underpayment

Aggregate unpaid obligation equivalent to more than 6 monthly amortizations shall result
to loan default

The full balance of a defaulted loan shall become due and demandable

A defaulted account is subject to 10% interest per annum charged on the outstanding
principal balance and 1 % penalty per month on unpaid principal and interest fully unpaid

Filing of loan

Online filing of loan application thru my SSS facility for salary and calamity loan

Except educational assistance loan and emergency loan which will still be filed OTC at SSS
Branches due to additional documentary requirements.

EDUCATIONAL ASSISTANCE LOAN PROGRAM AND EMERGENCY LOAN

ASSISTANCE PROGRAM member must be registered in MY.SSS
NO WEB REGISTRATION, NO LOAN APPLICATION SHALL BE ACCEPTED

Circular 2020- 025

Revised guidelines on the moratorium on the short term loan payment of SSS members affected
by COVID 19

Coverage of the program

Members with salary loan, calamity loan, restructured loan under LRP or educational loan who
are residents of the Philippines affected by the strict community quarantine
 Pursuant to RA 11469 known as BAYANIHAN HEAL AS ONE ACT
Eligibility

All member-borrowers with home or work address in areas where any type of ECQ is
extended within the effectivity of BHAO Act

The moratorium shall likewise be extended until such time that the ECQ is lifted in their
areas.

Period covered

Short term loan amortization shall commence from the applicable month of February 2020
with payment due date on march 31, 2020

Exceptions:

Exceptions for said 3 months moratorium are members with home or work address in cebu city or ay
areas where ECQ is beyond June 1, 2020. Moratorium shall then be extended and corresponding loan
payment term shall be applied.

Other conditions:

1. Qualified members will be electronically identified based on the eligibility and are automatically
covered by the moratorium and need not to file a request or application to the SSS
2. Accrued interest during the moratorium period shall be paid by the member-borrower on the last
month of the loan payment term.
3. No interest shall be charged on interest payments falling due within any covered ECQ period.
4. Any remittance made during the moratorium period shall reflect as an advance payment which
shall be applied directly to the outstanding balance of the loan following the order of priority in
application of payments
5. The loan payment term shall be extended corresponding to the number if loan amortizations
falling due within any covered ECQ period.

For employer and individual member you may use any of the following for easy transaction:

1. My.SSS Web Portal for individual/Employer

2. SSS Mobile App for filing of loan application

How to submit SALARY LOAN APPLICATION ONLINE? (EMPLOYED MEMBER)

1. Visit WWW.SSS.GOV.PH member portal

2. Encode your USER ID and PASSWORD and click box for the captcha code
To register your bank account, log in to MY.SSS and go to E services menu and click
Disbursement Account Enrolled Module.
Then explore.
After filing out pertinent data just wait for a confirmation email that your enrollment is
successful. After this, go to e services to apply for salary loan
By the way you can enroll 3 bank accounts for disbursement enrollment and if one of
your accounts has been frozen or closed you can deactivate that in the sss sytem to get rid
of it.
The system will decide as to how much you can avail for loan on the basis of your credit
history.

How to certify an employee loan?

Using MY.SSS EMPLOYER ACCOUNT

1. Visit the official website www.sss.gov.ph

2. Encode your user ID and Password and click the box for the captcha
3. Home page, under e services click salary loan then you can see there for certification
click Y for approcal N for no and then click agreed terms
4. Confirmed page will be displayed

How to submit Salary loan application for individual, self-employed?

The steps are similar to that of the employer’s

The only difference is that there is no need for certification to certify your loan, once
you apply you are automatically certified and approved for loan provided that you
met the eligibility requirements like updated 6 mos. Contributions. Mskg 100 pana
imong contri ug dili gani updated wala jud gihapon. Please refer above information
for details

SSS MOBILE APP is the newest self-service electronic facility of SSS. Using
touch screen mobile phone or tablet with interenet connection , the user can
access information and perform transactions using wirds and icons displayed on
the phone or tablet screen.

Downloadable on google play and apple appstore and even huawie apps store

How to open SSS mobile app?

1. Open your SSS mobile app installed
2. Provide your user ID and Password
3. Click my loans for application of salary loan
Then explore if walay UMID account with atm function mu enroll jud kag atong
loan disbursement account

REPONSIBILITIES OF EMPLOYER

1. The employer shall be responsible for the collection and remittance to

the SSS of the amortization due on the member-borrower’s salary loan
through payroll deduction.

Ex. Ug dli gani mubayad ang employee kay mamahimong delinquent si

employer kay nakatag man si employer as delinquent even though na met
niya ang eligibility dili jud gihapon siya maka apply for loan

2. the employer shall deduct the total bal. of the loan from any benefit(s)
due to the employee and shall remit the same in full to SSS, in case the
member-borrower is separated voluntarily ( e.g. retirement or
resignation) or involuntarily ( e.g. termination or cessation of company’s
operartion)
3. The employer shall report to the SSS the effective date of separation
from the company and the unpaid loan balance of the employee, through
the collection list, if the benefit(s) due the employee is insufficient to fully
repay his loan.

With regards to properly reporting of departed employees, report them

through form R1A to the SSS

4. The employer shall require a new employee to secure from the SSS an
updated statement of his account.
5. The employer shall deduct and remit to SSS any outstanding loan
balance of new employees.

RESPONSIBILITY OF MEMBER-BORROWER

A member-borrower who transfers employment shall submit to his/her

new employer an updated statement of account of any outstanding loan
balance with SSS and allow his/her employer to deduct from his/her
salary the corresponding amortization due, including any interest or
penalty for late remittance.

Be aware of the information that surrounds within the virtual web

H ow?
 Easy, Always get it straight from the source.

Social Security System

SSS retirement benefits (Updated)

DISCUSSION OUTLINE

1. Eligibility requirements for retirement benefit

2. Factors affecting the amount of monthly pension
3. Computation of the amount of monthly pension
4. Filing of retirement benefit
5. Value of SSS membership

Retirement Benefit – Cash Benefit paid to a member who can no longer work due to an old age.

Qualifying conditions:

At least 120 monthly contributions prior to the semester of retirement

Question: if dli you did not meet the 120 monthly payment contributions, Say you only have less than
120 what will happen?

Ans: you may only avail the lump sum payment pension

With regard to the age, 60 yrs. Old is subject to Optional while 65 yrs. Old is subject to technical
retirement

Difference of the age distinction:

When you get 60 yrs. Old you may have to exercise discretion as to whether or not you will file for a
retirement provided that wala na trabaho or source of income or employment

When you get 65 yrs. Old regardless of whether you are still working or not you may file for retirement.

In the Philippines we have a law lowering the retirement age of workers if and only you are as follows:
Mineworkers

RA 10757 EFFECTIVE APRIL 27,2016

50 yrs. Old – Optional retirement

60 yrs. Old – Technical retirement

Racehorse Jockey

RA 10789

Retirement not earlier than May 24,2016

55 yrs. Old – technical retirement

TYPES OF RETIREMENT BENEFIT

Monthly Pension

Lifetime cash benefit

Lump sum

Granted to those who have paid less than 120 months contributions

Dates of retirement shall be the following

DATE OF SEPARATION from employment if already 60 to 64 yrs. Old

60TH BIRTHDAY if already separated

65TH BIRTHDAY regardless if employed or not

MONTH AFTER THE SEMESTER OF 120TH CONTRIBUTION

HOW TO COMPUTE MONTHLY PENSION?

The amount of monthly pension is based on 3 FACTORS TO CONSIDER

1. The number and amount of monthly contributions paid by the member

2. Credited Years of Service
3. The number of dependent Children ug naa
 Question: nag bayad kag contribution from 1992 -1999 then nag stop then nag resume
from 2006 – 2012 maconsider ba gihapon?
Answer: yes everytime naa kay hulog maskg nay gaps gina account na ni SSS like
cumulative jud ang payment and it will also serves as the basis of computation

AVERAGE MONTHLY SALARY CREDIT (AMSC) is the sum of the last 60

monthly salary credits immediately preceding semester of contingency divided by 60
OR AMSC/60

CREDITED YEARS OF SERVICE (CYS)

CYS = A+B+C
Where:

A = 1985 minus the calendar year of coverage

B = no. of years with at least 6 monthly contributions from 1985 to 2001
C = TOTAL NO. OF CONTRIBUTIONS paid beginning January 2002 up to the month
PRIOR to the semester of contingency Divided by 12
Note: constant jud nang 1985 sa A and 6 months sa B and January 2002 divided by 12 sa C

Question: kung 1999 ka nag start ug payment so 1985-1999 means negative so therefore crush
out na dayun ang e add nalang nimo is B and C. applicable lang ang A ug nagbayad nakag SSS
before 1985 kay mo yield man siyag positive value

FORMULA OF MONTHLY PENSION

THE HIGHEST OF:

 P300+(20%*AMSC) + [2% * AMSC *(CYS – 10)]

 40% * AMSC
 Minimum pension
P 1,200 per month if 10 CYS
P2,400 per month if 20 CYS

PLUS P1,000 Additional benefit January 2017 and 13th month pension every December equivalent to 1-
month pension.

Sample problem:

A member will file for his retirement claim benefit. He was born on August 16, 1951
and has been employed from august 1972. His date of separation from his last
employer was on april 2013. His Average monthly salary credit amounts to 15,000
 Answer should be.

First formula: 12,600

Second formula: 6,000

Note: that basis of determining the semester of contingency is the current quarter plus preceding
quarter of the year.

Dependents’ pension threshold

Below 21 years old

Legitimate, legally adopted and illegitimate children

Unmarried and not gainfully employed

Provided dli sila married and not gainfully employed

If over 21years old of age, he is congenitally or while still a minor has been permanently incapacitated
and incapable of self-support, physically or mentally.

How much? Is 10% of the monthly pension or 250 pesos whichever is higher

How to file SSS retirement Benefit?

Go to SSS official site www.sss.gov.ph

Log in with your user ID

Under E services go to the disbursement account enrollment module

Carefully read and then click I certify

Under e services tab click submit retirement application

Then once the info is filled you will be required to fill in the date of separation then click proceed

After that you are to review important details

Review your employment history

If correct and in order you shall proceed to check your eligibility to retirement benefit.

You may answer some questions

If qualified, the proceeds will be deposited to your preffered disbursement account from any of your
enrolled account in the bank enrolled facility under the E services menu.

Read certifications carefully then click proceed if already certified

Check your email for confirmation.

VALUE OF SSS MEMBERSHIP

SSS CONTRI FOR 20 YEARS TOTAL PENSION RECEIVED FOR 20 YRS

MIN. 57,600 884,000

MAX. 576,000 2,418,000

Think about this, you are paying SSS contributions not as an expense but as an investment

UPDATES

Suspended ang ACOP

Starting October 20, 2020 pinatupad na ang checkless disbursements ang mode of disbursing is accredited
PESONET banks

Reminder fight fake news!

Go straight from the source

 Social Security System
HOW TO REGISTER AND USE THE SSS WEBSITE USING THE EMPLOYER ACCOUNT
(Updated)

DISCUSSION OUTLINE

1. HOW TO REGISTER IN THE SSS WEBSITE

2. SERVICES/FACILITIES AVAILABLE
3. FREQUENLY ASKED QUESTIONS

HOW TO REGISTER IN THE SSS SITE

Go to the official website then click the employer
If not registered click regular employer or household employer
Then if already done fill out necessary information it should be updated
Then click submit then you will receive an email confirming your registration

SERVICES/FACILITIES AVAILABLE FOR EMPLOYERS

 Home
 Employer info
 Inquiry
 E-services
 Payment preference number

Explore2 lang jud tanan tabs if you really want to know everything
Question: ug naa pa gani empleyado na dugay na nawala sa inyo ang buhaton lang is
mag file ug R1A sa system via over the counter and not online
Kung naa gani mga info na dugai nang nawala sa inyoha like contri human naa pa sa
system pag file ug R1A over the counter sa near SSS branch and not online. In other
words e report always

Ug naa gani moi bag ong empleyado pangayo jud ug statement of account as to pila an
gang iyang balance para mahimong updated ang reporting and pag bayad

Ug naa mga problems online just report it sa SSS

The questions are very complicated I myself cannot relate to it.