These Are The 7 Primary Benefits You Can Avail If You’re an SSS Member

Are you belonging of those people saying “ouch” after seeing many deductions on your payslip aside from the big tax amount? Part of it is going to compulsory government obligation concluding your contribution to the SSS or Social Security System.

Although you might not be capable to value those deductions at the moment, your future will surely glad you for letting your employer to deduct like contributions.

The SSS isn’t there to just chop off a big amount in your hard-earned salary; they’re formed to distribute as an insurance program mandated through the government to give help to private worker and their families in terms of protection against illness, disability, maternity, and death.

To further recognize that 3-4-digit deduction in your payslip monthly, here are several of the benefits an SSS member can relish:

1. Sickness Benefit

- This benefit serves as an everyday cash allowance for members who will be impotent to report to work because of sickness or injury. But illness such as cough, cold, headache, stomach pain or any other ordinary sickness which can be treated at home. The said benefit can be requested on the following condition:

A member couldn’t report to work because of illness or injury and was confined in the hospital or was suggested to stay at home for about 4 days.

The members should have recompense his or her current 3 months’ contribution within 12-months period advance to the sickness or injury.

The member already used up all company leave benefits together with recompense.
The worker was capable to inform his or her employer about the sickness or injury through filing the illness benefit. (For unemployed, voluntary or self-employed member, the illness notification should be send in directly to SSS.)
    2. Maternity Benefit

    - This benefit is an everyday cash allowance provided for women members who could not report to work because of childbirth or miscarriage. It could love on the following orders:

    She has recompense at least 3 monthly contributions within the 12-month period advance to the last semester of her giving birth or miscarriage.
    She submitted the needed pregnancy filling in to SSS.

    3. Disability Benefit

    - This benefit is given to a member who becomes slightly or totally disabled; this cash allowance is given as either every month pension or lump-sum total. Any member with at least 1-month contribution prior to being slightly or totally disabled is eligible to get the benefit.

    4. Retirement Benefit


    - This is a cash benefit in a form or every month pension or lump-sum given to members who couldn’t work because of old age.

    Conditions:

    The members should be 60-years old and already retired from employment and has recompensed about 120 monthly contributions advance to the semester of retirement.
    Member is 65-years old, either employed or unemployed, and has recompensed about 120 monthly contributions advance to the semester of retirement.
      5. Death Benefit

      - This cash benefit is designated in either in every month pension or lump-sum given to the beneficiaries of a passed away member. Beneficiaries conclude legal spouse and the member’s kid (legitimate or illegitimate below 21 years old).

      In unavailability of main beneficiaries, the secondary beneficiaries will have granted the cash benefit.

      Conditions:

      For Pension – the died member must have recompensed about 36 every month contributions before the semester of death.
      For Lump-Sum total – given to the main beneficiaries of a died member who had recompensed less than 36 every month contributions before the semester of death. Also, in the unavailability of main beneficiaries, the secondary beneficiaries are given the death benefit in lump-sum total.
        6. Funeral Benefit

        - This is a cash benefit which total ranges to 20, 000-40, 000 granted to whoever recompense the burial expenses of the died member or pensioner.

        Conditions:

        For self-employed, non-working spouse, OFW members – the died member must have recompensed about 1 monthly contribution to be qualified to funeral benefit.
        For employed members and those separated from employment – the died member must have been reported for insurance through his or her employer, even if no contribution was recompensed, for his or her beneficiaries to be qualified to the funeral benefit.
          7. Salary Loan

          - This cash loan which goals to meet the member’s short-term financial needs is given to workers recently paying contributions.

          Conditions:

          A member must have recompensed at the current 6 months of contributions in the previous 12 months’ advance to the loan application.

            Source: Smart Readers
            These Are The 7 Primary Benefits You Can Avail If You’re an SSS Member These Are The 7 Primary Benefits You Can Avail If You’re an SSS Member Reviewed by LVS Staff on September 05, 2018 Rating: 5
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