SSS Flashcards
Coverage of SSS Law
all employees max 60 years old AND
their employees
Effect of Separation from Employment
- employer’s contribution on his account and his obligation to pay contributions arising from that employment shall cease AT THE END OF MONTH OF SEPARATION
- employee shall be credited with all contributions paid on his behalf and entitled to benefits
- Employee may still continue to pay total contribution
Effect of Interruption of Business or Professional Income.
no net professional or business income in any calendar year, he SHALL NOT be required to pay contributions for the SUCCEEDING year
Permanent disability benefits
disability occurs AFTER he had paid at least 36 contributions prior to the semester of disability (monthly pension)
BEFORE the required 36 monthly contributions, HIGHER - lumpsum benefit equivalent to the monthly pension x monthly contribution OR 12 times monthly pension
Compulsory Coverage of OFW
- all sea-based and land-based OFWs not over 60 years old
- manning agencies are AGENTS of their principals (jointly and severally or solidarity liable)
Land-based OFWs are compulsory members of the SSS in the same manner as
- self employed persons
- DFA, DOLE and its agencies are mandated to negotiate bilateral labor agreements with the OFWs host countries
Effect of Termination of OFW contracts
they may continue to pay
Effective day of Coverage
Employer: first day of his operation
Employee: day of his employment
Compulsory coverage: shall take effect upon his registration with the SSS.
Pension Retirement and Other Benefits
monthly pension shall in no case be paid for an aggregate amount of minimum 60 months
minimum pension:
member with 10 credited years of service: 1,200
member with 10 credited years of service: 2,400
Additional benefit allowance
1k shall be given to all retirement, death and disability pensioners
Dependent’s pension
10% of monthly pension or P250.00 HIGHER
each dependent child max 5 beginning with the youngest without substitution
Requisite for retirement benefit
at least 120 contributions prior to semester of retirement
60 years old and is separated from employment OR 65 years old
Funeral benefit
12k
sickness benefit
max 120 days in one year
90% of his average daily salary credit
Maternity leave benefit
pregnancy, miscarriage, or emergency termination of pregnancy, regardless of frequency
105 days full pay + 30 days unpaid
Solo parent: 105 days paid + 15 days paid
Maximum: 150 days