Social Security Law

Question 1

Purpose of SSS Law

Answer 1

Provide to covered employees and their families protection against the hazards of disability, sickness, old age, and death with a view to promoting their wellbeing in the spirit of social justice

Question 2

Compulsory Coverage of SSS Law

Answer 2

1. All employees not over 60 years of age
2. Their employers

Question 3

Voluntary Coverage

Answer 3

Spouses who devote full time to managing the household and family affairs unless they are also engaged in other vocation or employment which is subject to mandatory coverage may be covered by SSS on a voluntary basis

Question 4

Self Employed obliged to Compulsory Coverage of SSS

Answer 4

Includes but not limited to:
1. All self-employed professionals
2. Partners and single proprietors of business
3. Actors and actressess
4. Professional athletes, coaches, trainers, and jockeys
5. Individual farmers and fishermen

Question 5

Effective Date of Coverage

Answer 5

Employer- First day of operation
Employee- on the day of his employment
Self-employed persons- Upon registration with the SSS

Question 6

Monthly Pension compuitation

Answer 6

Highest among the following amounts
1. Sum of Three hundred pesos; plus
a. 20% of average monthly salary credit; plus
b. 2% of the average monthly salary credit for each credited year of service in excess of 10 years
2. 40% of average monthly salary credit
3. 1,000

Question 7

Minimu