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

Types of retirement benefits

Monthly pension – a lifetime cash benefit paid to a retiree on aregular basis.
Lump sum amount – one-time payment granted to a retiree. The amount is equal to the total contributions paid by the member and/or by his/her ERs, including interest earned

Qualifying Conditions

Member must have paid at least 120 monthly contributions prior to the semester of retirement and is any of the following, whichever is applicable:

1. at least 60 years old and separated from employment or has ceased to be an SE/OFW/Household Helper (optional retirement);
2. at least 65 years old whether still employed/SE, working as OFW/Household Helper or not (technical retirement);
3. at least 55 years old and separated from employment or has ceased to be an SE, if an “underground mineworker” (optional retirement);
4. at least 60 years old whether still employed/SE or not, if an “underground mineworker” (technical retirement); or
5. a total disability pensioner who has recovered from disability and is at least 60 years old (or at least 55 years old, if an underground mineworker).

A former retiree-pensioner whose monthly pension was suspended due to reemployment/self-employment and is now separated from employment or has ceased to be an SE.

A member who is 60 years old and above, but not yet 65, with 120 contributions or more may continue paying as VM up to 65 years old to avail of the higher amount of benefit.

Terms and conditions for retirement of Underground Mineworkers

An Underground Mineworker is any person employed to extract mineral deposits underground or whose workplace is beneath the ground performing and coordinating activities for the purpose of searching for and extracting mineral deposits, which includes the muckers,miners, bull-gang workers, etc. and any other person working underground regardless of positions such as geologist, security guards, mechanics or sampler.

Lump sum amount

Member is at least 60 years old (or 55 years old, if an underground mineworker) for optional retirement, or 65 years old (or 60 years old, if an underground mineworker) for technical retirement, and has paid less than 120 monthly contributions. A member filing for retirement benefit and has paid less than 120 monthly contributions shall be given the option to continue paying the contributions as a VM to complete the 120 months to avail the full benefits thru monthly pension.

Online Application of Retirement Benefit thru My.SSS

Open to all:

Overseas Filipino workers and voluntary members who are at least 60 years old upon the date of submission of retirement claim application.

Employee-members who are at least 60 to 64 years old and separated from employment. Excluded are underground or surface mineworkers and racehorse jockeys.

Members who are at least 65 years old upon the date of online filing of claim.

Qualifying Conditions:

Members must have a registered account in the My.SSS facility in the SSS website

1. Must have disbursement account enrolled in the Bank Enrollment Module of My.SSS such as:

• UMID-ATM
• UBP Quick Card
• Any PESONet-accredited bank

If filing for monthly pension:
They have at least 120 posted monthly contributions prior to the semester of the month of submission of online retirement application

If filing for lump sum benefit:
They have at least 1 posted monthly contribution

2. They have no cancelled or multiple SS number/s

3. They have no outstanding loan balance under the:

• Stock Investment Loan Program
• Privatization Fund Loan Program
• Educational Loan Program, or
• Vocational Technology Loan Program
  (only unpaid SSS salary or calamity loan, including those borrowed under the Salary Loan Early Renewal Program are allowed)

4. They have no dependent child/ren

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