The Social Security System (SSS) offers a lot of benefits to its members and provides financial assistance in their time of need. Here are some of its major benefits:

Sickness

The SSS provides sickness benefits to support members who cannot work due to illness or injury. This benefit entails a daily cash allowance equivalent to 90% of the member’s Average Daily Salary Credit (ADSC). It is applicable for a maximum duration of 120 days within a calendar year.

To qualify for sickness benefits, here are the criteria one needs to meet: 

• The member must have been confined to the hospital or home for at least four days due to illness or injury.
• Members can only claim sickness benefits if they have exhausted their company sick leave with pay for the calendar year.
• Regardless of employment status (whether regular employees, self-employed, or overseas workers), members must claim sickness benefits from the SSS directly.

Maternity

Maternity benefits provide crucial support to expecting mothers during their childbirth journey. By submitting a maternity leave application, mothers-to-be can access paid benefits, determined by the type of delivery – whether natural birth or by cesarean. 

These benefits amount to 100% of the member’s average daily salary credit, with variations based on circumstances: 105 days for normal delivery, 105 days for cesarean, 120 days for solo parents, or 60 days for cases of miscarriage, stillbirth, or terminated pregnancy.

Upon applying, beneficiaries typically receive benefits within 30 days. Moreover, an option exists for transferring up to seven days of these benefits to the father, regardless of marital status. 

To qualify for these benefits, members must have contributed to the SSS for at least three months within the 12 months preceding the semester of childbirth or miscarriage. These provisions ensure that expecting mothers receive the necessary financial assistance to cover medical expenses, childcare costs, and other necessities during their maternity leave. 

Disability

The disability benefits paid in either lump sums or monthly payments cater to the needs of disabled members of the SSS, whether partially or fully. Qualified members receive a monthly disability pension and a ₱500 supplemental allowance every month. 

Again, the amount credited depends on the years of service. 

• Less than ten years: ₱1,000
• Ten years of service: ₱1,200
• 20 years of service: ₱2,400 with an additional ₱1,000 benefit

The individuals are eligible to receive disability benefits if they have made at least one month of contributions before the disability semester. To receive monthly contributions, they must have completed at least 36 contributions. If not, they are only eligible for the lump sum amount. 

Unemployment

Terminated members benefit greatly from the unemployment benefit of making SSS contributions. The total credited amount can be used by the member to look for another job. Generally, the amount received is 50% of the member’s monthly salary. However, the maximum limit is set at ₱10,000 even if the member has a salary or wage over ₱20,000 and exceeds the contribution limit. It’s crucial to note that resignations are not covered under this benefit. The members must be terminated to avail of the benefit. 

Retirement

Retirement benefits are crucial to ensure you live a healthy and fulfilling life during old age. The SSS provides retirement money in a lump sum or monthly payments as deemed fit. Moreover, as a bonus, SSS grants an additional 13th-month pension to its members every December. 

The amount received depends on the years of service: for 10 credited years, members receive ₱1,200, and for 20 years, they are entitled to ₱2,400 along with an additional ₱2,000 in benefits.

To qualify for these benefits, members must meet specific criteria:

• For voluntary retirement, members must be at least 60 years old and have paid at least 120 contributions before the retirement semester.
• For mandatory retirement, members need to be at least 65 years old and have made 120 contributions before the retirement semester.

For members seeking a lump sum payment, a minimum of 120 contributions is required. If this criterion isn’t met, members can continue making contributions until they reach the threshold necessary to avail further benefits.

Moreover, there are special provisions for specific categories of workers:

• Surface and underground mine workers are eligible for voluntary retirement at 50 and mandatory retirement at 60, provided they have at least five years of service.
• Racehorse jockeys can opt for retirement at 55, with a minimum of 120 months of contributions and five years of experience.

Death

The SSS makes it a point to cater to the needs of the family members of the deceased person. It gives cash grants, either monthly or a lump sum amount, to the deceased member’s beneficiaries. This is in addition to the 13th-month pension they receive every December. 

The monthly amount depends on the years of service. However, the minimum amount stands at ₱1,000 for members with less than 10 years of service with additional benefits of ₱1,000. 

The benefits are given to the primary beneficiaries, including the spouse and children. In the absence of primary beneficiaries, second beneficiaries, such as dependent parents, get the benefits. Family members are only entitled to receive the death benefit if the member has made 36 contributions before the semester of the death. 

In the case of minor beneficiaries, an equivalent of 10% of the member’s contribution will be given or ₱250, whichever is higher. 

Funeral

The funeral benefit is the total amount of cash given to the member who conducts the funeral services of the deceased. The amount received can be anywhere between ₱20,000 to ₱40,000, depending on the number of SSS contributions, years of service, and average monthly salary credit. 

In case the member was employed, the employer should report the coverage. On the flip side, self-employed, non-working spouses, and voluntary members should make at least one month of contribution to become eligible. 

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