SSS Pension Calculator

If you resume work before age 65, your monthly pension may be suspended until you meet the age requirement. Re-employment also means you will be subjected to compulsory coverage, which may affect your benefits.

Yes. A retiree who initially filed for optional retirement may re-apply for technical retirement (usually at age 65) to have their pension recalculated. In such cases, the higher computed pension between the two claims will be granted.

This option allows you to receive the first 18 months of your pension as a lump sum, subject to a preferential interest rate. It can be beneficial for meeting immediate financial needs, but the exact amount is determined by SSS.

Any outstanding loans, overpayments, or adjustments (for cases like overlapping benefits) may be deducted from your retirement benefit. It’s important to verify with SSS how these may apply to your situation.

To be eligible for the monthly pension benefit, you need to have made at least 120 monthly contributions before the semester of retirement. If you have less than 120 contributions, you are only eligible for a lump sum benefit.

Yes, the monthly pension is generally provided for life. However, if a retiree resumes employment before the age of 65, the pension may be suspended until the member reaches 65 years old.

Once you have reached 120 contributions, you become eligible for retirement benefits. While you can stop contributing if you choose, continuing to contribute may increase your Average Monthly Salary Credit (AMSC) and Credited Years of Service (CYS), which in turn could result in a higher pension.

There isn’t a fixed “highest” pension because the benefit is computed based on your AMSC and CYS. The SSS uses three different formulas, and your pension is the highest computed value among them, plus an additional benefit. Your individual inputs determine the final amount.

For members with less than 120 contributions, the lump sum benefit is calculated based on the total contributions you and your employer(s) have paid, including accrued interest. The exact amount is determined by SSS and may differ from the monthly pension computation.

The decision depends on your personal financial needs. A monthly pension provides a steady, lifelong income, which can help with long-term financial planning, while a lump sum gives you immediate access to a larger amount of cash that you could invest or use for significant expenses. It is advisable to consult with a financial advisor to determine which option is best for your situation.

1. If the retiree has primary beneficiaries:
   The primary beneficiaries will receive 100% of the retiree’s monthly pension. Additionally, any dependents will be entitled to the dependent’s pension.
2. If the retiree has no primary beneficiaries:
   If the retiree passes away within 60 months (5 years) from the start of their monthly pension, the secondary beneficiaries will receive a lump sum payment. This payment will be equal to the total monthly pensions for the remaining months of the 5-year guaranteed period (excluding the dependent’s pension).

This ensures that the retiree’s beneficiaries are supported in the event of their death.

For more detailed information, please review the official SSS guidelines on their website or contact SSS directly for personalized assistance regarding your retirement benefits.