SSS members get 5% pension hike

MANILA, Philippines - The Social Security System (SSS) yesterday announced a five percent across-the-board pension increase for its 1.9 million retired members effective this month. 

To provide time for the implementation of necessary adjustments, the increase would be paid out starting August, including the additional amounts for June and July, according to Agnes San Jose, SSS vice president for Benefits Administration. 

Qualified to receive bigger benefits are all active pensioners for retirement, death and disability as of May 31. 

With the increase, a person who receives a monthly pension of P3,000 for instance, will get an additional P150 for a total of P3,150. 

The minimum retirement pension varies depending on the person’s contribution period and monthly salary credit on which their contributions are based. The longer the contribution period and the bigger the contribution made when the person retired, the higher the pension.   

Under the SSS charter, the minimum guaranteed pension is P1,200 if the credited years of service are more than 10 years but fewer than 20 years or P2,400 if the credited years of service are at least 20 years. Currently, the maximum monthly salary credit is P16,000. 

Headlines ( Article MRec ), pagematch: 1, sectionmatch: 1The SSS, however, said that Employees Compensation (EC) pensions, which are granted on top of regular SSS pensions for members with work-related contingencies, are excluded from the five-percent increase since they were already granted a 10-percent hike in funeral, disability and death benefits.  President Aquino earlier issued Executive Order 167, doubling the workers’ funeral benefits to P20,000 as provided by the Employees Compensation Commission.  

The benefits would be given provided that the stability of the insurance funds is not affected and there is no corresponding increase in the EC contribution from the employers. 

The expansion of the agency’s membership base and rationalization of financial activities boosted the SSS’s collections by 9.4 percent to P103 billion from P94 billion.

This allowed the agency to give out more benefits to members last year, from P84 billion to P91.4 billion.   “The SSS will continue to pursue more reforms to improve its long-term financial health as well as enhance its benefit levels,” San Jose said in statement.

Source: http://www.philstar.com/headlines/2014/06/07/1331966/sss-members-get-5-pension-hike

Letter Leave of Absence

Engr. Franz Xyrlo I. Tobias
Frisco, SFDM, Quezon City
09156781245xxx@gmail.com

Pepe Cruz
Manager
Jollibee Corporation
Diliman, Quezon City

July 15, 2014

Dear Mr. Pepe Cruz,

I would like to seek permission to seek a leave of absence due to personal reasons. I am happy to transfer my assigned work to a capable office mate prior to your approval.

Rest assured that I will be returning to work after I work out my problems. 

If I can be of any help during this transition, please let me know.

Sincerely,

Engr. Franz Xyrlo I. Tobias

Resignation Letter

Engr. Franz Xyrlo I. Tobias
Frisco, SFDM, Quezon City
09156781245xxx@gmail.com

Pepe Cruz
Manager
Jollibee Corporation
Diliman, Quezon City

July 15, 2014

Dear Mr. Pepe Cruz,

I would like to inform you that I am resigning from my position as Account Executive for the Jollibee Corporation, effective August 1, 2014. 

Thank you for the opportunities for professional and personal development that you have provided me during my brief stay in our company. I have enjoyed working for the agency and appreciate the support provided me during my tenure with the company.

If I can be of any help during this transition, please let me know.

Sincerely,

Engr. Franz Xyrlo I. Tobias

SSS RETIREMENT BENEFIT

What is the retirement benefit?

It is a cash benefit either in monthly pension or lump sum paid to a member who can no longer work due to old age.

Who may qualify for a retirement benefit?

1. A member who is 60 years old, separated form employment or ceased to be self-employed, and has paid at least 120 monthly contributions prior to the semester of retirement.
2. A member who is 65 years old whether employed or not and has paid at least 120 monthly contributions prior to the semester of retirement.

For Underground Mineworkers:

1. Has reached the age of 55 years old and is an underground mineworker for at least 5 years (either continuous or accumulated) prior to the semester of retirement but whose actual date of retirement is not earlier than March 13, 1998; separated from employment or in the case of self-employed, has ceased self-employment, and has paid at least 120 monthly contributions prior to the semester of retirement.
2. Has reached the age of 60 years old whether employed or not.

What are the types of retirement benefits?

They are:

1. the monthly pension, and
2. the lump sum amount.

The monthly pension is a lifetime cash benefit paid to a retiree who has paid at least 120 monthly contributions to the SSS prior to the semester of retirement.

The lump sum amount is granted to a retiree who has not paid the required 120 monthly contributions. It is equal to the total contributions paid by the member and by the employer including interest.

How much monthly pension will a retiree receive?

The monthly pension depends on the members paid contributions, including the credited years of service (CYS) and the number of dependent minor children but not to exceed five. The amount of monthly pension will be the highest of:

1. the sum of P300 plus 20 percent of the average monthly salary credit plus 2 per cent of the average monthly salary credit for each accredited year of service (CYS) in excess of ten years; or
2. 40 per cent of the average monthly salary credit; or
3. P1,200, provided that the credited years of service (CYS) is at least 10 or more but less than 20 or P2,400, if the CYS is 20 or more. The monthly pension is paid for not less than 60 months.

A retiree has the option to receive the first 18 monthly pension in lump sum discounted at a preferential rate of interest to be determined by the SSS. The option should be exercised upon filing of the first retirement claim. Only advance payments shall be discounted on the date of the payment. The dependents’ pension and 13th month pensions are excluded from the 18 months lump sum pension.

The member will receive the monthly pension on the 19th month and every month thereafter.

What happens when the retirement pensioner resumes employment?

The monthly pension shall be suspended upon the re-employment or resumption of self-employed of a retired member who is less than 65 years old. The member shall again be subjected to compulsory coverage. At 65 year old whether employed or not, he can already claim for retirement benefit.

How much is the monthly pension of a member who retires after age 60 and who has contributed the required 120 monthly contributions?

The monthly pension shall be the higher of the following:

1. the monthly pension computed at the earliest time the member could have retired had been separated from self-employment or ceased to be self-employed plus all adjustments thereto; or
2. the monthly pension computed at the time when the member actually retires.

A pensioner who retires more than once shall be entitled to the higher of:

1. the monthly pension computed for the first retirement claim; or
2. the re-computed monthly pension for the new claim.

How is the monthly pension paid?

The monthly pension is paid thru the member’s designated bank. He is allowed to choose the bank nearest his residence thru which he wishes to receive his pension benefits under the “Mag-impok sa Bangko” program. This became mandatory effective September 1,1993.

A member must open a single savings account and must submit to the SSS his savings account number and a photocopy of his passbook upon filing of his application. The original copy of the passbook must be presented for authentication purposes.

Upon approval of the claim, the SSS will mail a notice voucher to the claimant informing when to withdraw the benefit from the bank.

SSS RETIREMENT BENEFIT

Aside from the retirement benefit, what else can a retiree receive?

The retiree is entitled to a 13th month pension payable every December. All retiree pensioners prior to the effectivity of RA 7875 on March 4, 1995 are automatically considered members of PhilHealth and he and his legal dependents are entitled to its hospitalization benefits. On the other hand, retirees effective March 4,1995 up to the present will be entitled to hospitalization benefits under PhilHealth only if they have contributed 120 monthly Medicare contributions. The counting of 120 monthly contributions shall start in 1972, when the Medical Care Act of 1969 started implementation.

A copy of DDR print-out indicating the type of claim is retirement in nature and the effectivity date of pensioner in its absence a copy of retiree-pensioner certification issued by SSS shall be required. They need to register under Philhealth for the issuance of a Philhealth ID card.

Are the children of a retiree member entitled to the dependent's pension?

The legitimate, legitimated, or legally adopted and illegitimate children, conceive on or before the date of retirement of a retiree will each receive dependents’ pension equivalent to 10 per cent of the member’s monthly pension or P250, whichever is higher.

Only five minor children, beginning from the youngest, are entitled to the dependents’ pension. No substitution is allowed.

If there are more than five dependents, the legitimate, legitimated or legally adopted children shall be preferred.

For how long will the dependent child receive his pension?

The dependents’ pension stops when the child reaches 21 years old, gets married, gets employed or dies. However, the dependents’ pension is granted for life for children who are over 21 years old, provided they are incapacitated and incapable of self-support due to physical or mental defect which is congenital or acquired during minority.

What will happen to the monthly pension of a retiree in case of death?

Upon the death of a retiree pensioner, the primary beneficiaries as of the date of retirement shall be entitled to 100 per cent of the monthly pension and the dependents to the dependents’ pension.

If the retiree pensioner dies within sixty (60) months from the start of the monthly pension and has no primary beneficiaries, the secondary beneficiaries shall be entitled to a lump sum benefit equivalent to the total monthly pensions corresponding to the five-year guaranteed period excluding the dependents’ pension.

What documents are needed in filing for a retirement benefit?

1. Retirement claim application (SSS Form DDR-1);
2. DDR Savings Account form;
3. Certificate of Separation from last employer (for members less than 65 years old);
4. Passbook (if pension);
5. Certified true copies of birth or baptismal certificate of dependent children;
6. Certificate of cessation of business or practice of profession (for self-employed less than 65 years old);
7. Certified true copy of Marriage certificate (if with dependent children)
8. Proofs of filiation for illegitimate dependent children; and
9. SSS digitized or E-6 (acknowledgement stub) with two valid IDs, one of which with recent photo.

Where can a member file his retirement application?

Applications forms for retirement benefit are filed at any SSS branch or representative office.

AFFIDAVIT OF LOSS

AFFIDAVIT OF LOSS

 I, ____________________________, of legal age, Filipino, single/married, and resident of

___________________________________________________, after being duly sworn according to law,

hereby depose and state that:

1. I am the [holder / custodian / registered owner] of [Describe here the item/document/paperlost including Serial No., if any (Example: Passbook No. 12345, ATM Card No. 12345678, Credit Card No. 123-

456-7890, Passport No. AA123456)] issued by the [Insert Name of Issuing Company / Office /Department

(Example: Banco de Oro, Department of Foreign Affairs, etc.)] on [date of issuance] at [place of issuance, if

any].

2. Sometime in [State here approximate time (i.e. day/month/year) of loss], I lost the above[Insert name of item/document/paper] under the following circumstances:

[Here briefly narrate how the item, document or paper got lost or was probably lost]

3. Despite diligent efforts exerted, I could no longer locate, find or recover the said [Insert name of item/document/paper], and to the best of my knowledge, the same is truly lost.

4. The said [Insert name of item/document/paper] has not been confiscated by any officer of the law or the issuing office or agency due to the violation of any law, statute, order, rule or regulation.

 5. In the event that the lost [Insert name of item/document/paper] should hereafter be found or located, I undertake to forward or surrender the same to [Insert Name of Issuing Company / Office / Department] for appropriate disposal.

 6. I am executing this Affidavit to attest to the truth of the foregoing statements and to request the issuance of a new [Insert name of item/document/paper] in lieu of the one which was lost.

 AFFIANT FURTHER SAYETH NAUGHT.

IN WITNESS WHEREOF, I have hereunto set my hand this ____________________ at

_________________________.

[Signature above Printed Name of Affiant]

Affiant

 SUBSCRIBED AND SWORN to before me this ____________________, affiant exhibited to me

his/her Competent Evidence of Identity by way of __________________ issued at ______________ on

__________________.

Doc. No. ______;

Page No. ______;

Book No. ______;

Series of ______.

SSS MATERNITY BENEFIT

What is the maternity benefit?

The maternity benefit is a daily cash allowance granted to a female member who was unable to work due to childbirth or miscarriage.

What are the qualifications for entitlement to the maternity benefit?

1. She has paid at least three monthly contributions within the 12-month period immediately preceding the semester of her childbirth or miscarriage.
2. She has given the required notification of her pregnancy through her employer if employed, or to the SSS if separated, voluntary or self-employed member.

Is the voluntary or self-employed member also entitled to the maternity benefit?

Yes, A voluntary or a self-employed member is entitled to the maternity benefit provided that she meets the qualifying conditions.

How much is the maternity benefit?

The maternity benefit is equivalent to 100 per cent of the member’s average daily salary credit multiplied by 60 days for normal delivery or miscarriage, 78 days for caesarean section delivery.

How is the maternity benefit computed?

1. Exclude the semester of contingency (delivery or miscarriage).
   
       A semester refers to two consecutive quarters ending in the quarter of contingency.
       A quarter refers to three consecutive months ending March, June, September or December.
2. Count 12 months backwards starting from the month immediately before the semester of contingency.
3. Identify the six highest monthly salary credits within the 12-month period.
   
   Monthly salary credit means the compensation base for contributions benefits related to the total earnings for the month. Please refer to the table below.

    

   Range of Compensation	Monthly Salary Credit
   1,000 - 1,249.99	1,000
   1,250 - 1,749.99	1,500
   1,750 - 2,249.99	2,000
   2,250 - 2,749.99	2,500
   2,750 - 3,249.99	3,000
   3,250 - 3,749.99	3,500
   3,750 - 4,249.99	4,000
   4,250 - 4,749.99	4,500
   4,750 - 5,249.99	5,000
   5,250 - 5,749.99	5,500
   5,750 - 6,249.99	6,000
   6,250 - 6,749.99	6,500
   6,750 - 7,249.99	7,000
   7,250 - 7,749.99	7,500
   7,750 - 8,249.99	8,000
   8,250 - 8,749.99	8,500
   8,750 - 9,249.99	9,000
   9,250 - 9,749.99	9,500
   9,750 - 10,249.99	10,000
   10,250 - 10,749.99	10,500
   10,750 - 11,249.99	11,000
   11,250 - 11,749.99	11,500
   11,750 - 12,249.99	12,000
   12,250 - 12,749.99	12,500
   12,750 - 13,249.99	13,000
   13,250 - 13,749.99	13,500
   13,750 - 14,249.99	14,000
   14,250 - 14,749.99	14,500
   14,750 - O V E R	15,000

4. Add the six highest monthly salary credits to get the total monthly salary credit.
5. Divide the total monthly salary credit by 180 days to get the average daily salary credit. This is equivalent to the daily maternity allowance.
6. Multiply the daily maternity allowance by 60 (for normal delivery or miscarriage) or 78 days (for caesarean section delivery) to get the total amount of maternity benefit.

For example, let us say that an SSS member gives birth in December 2004.

1. The semester of contingency would be from July 2004 to December 2004
2. The 12-month period before the semester of contingency would be from July 2003 to June 2004
3. Let us assume that the six highest monthly salary credits are P15,000 each. Thus, the total monthly salary credit would be P90,000 (P15, 000 x 6).
4. The daily maternity allowance would be P500 (P90,000/180).
5. The total maternity benefit due would be P30, 000 (P500 x 60 days) for normal delivery or P39,000 (P500 x 78) for caesarian cases.