Welcome to the SSS Pension Calculator! Are you a member of the Social Security System (SSS) in the Philippines and wondering how much you will receive as a pension when you retire?
Look no further! With our easy-to-use calculator, you can quickly and accurately estimate your future pension based on your contributions and other relevant information. Simply enter your details and let our calculator do the rest.
SSS Pension Calculator
Enter your average monthly salary credit:
Enter your credited years of service:
Whether you’re a voluntary member, self-employed individual, or Overseas Filipino Worker (OFWs), with our sss pension calculator, you’ll have a better understanding of your financial future and can plan accordingly. Start calculating your pension today and take control of your retirement planning.
Factors to calculate SSS pension in the Philippines
To calculate your SSS pension, you will need to consider the following factors:
1. Determining Your Average Monthly Salary Credit
Your pension is based on your average monthly salary credit, which is the amount of your salary that is used to compute your contributions to the SSS.
Your salary credit is determined by your gross monthly salary, which includes your basic pay, cost-of-living allowance, and other taxable allowances, minus any exemptions or deductions.
2. Calculating Your Contribution Period
Your contribution period is the number of months you have been contributing to the SSS.
To be eligible for a retirement pension, you must have at least 120 monthly contributions, with at least 36 of those contributions made within the last 120 months before your retirement.
3. Understanding Your Retirement Age
The SSS retirement age is 60 for female members and 65 for male members.
- If you retire before reaching the full retirement age, your pension will be reduced.
- If you retire after reaching the full retirement age, your pension will be increased.
How to Use the SSS Pension Calculator?
To use the SSS Pension Calculator the member will need to enter their personal information, such as the number of creditable years of service AND average monthly salary credits for the last 60 months before the month they retired or became disabled.
The calculator will then provide an estimate of the member’s monthly pension amount AND also allow the member to enter different retirement ages or salary credit amounts to see how these factors impact the pension amount by using the formula below to calculate your SSS pension.
Formula to Calculate Your Monthly SSS Pension
To calculate your SSS pension in the Philippines, you will need to use the formula provided by the Social Security System (SSS). Here is the formula:
- ₱1,200 if CYS is somewhere between 10-20 years; ₱2,400 if CYS is 20 years or more + ₱1,000.
- ₱300 + 20% of average monthly salary credit (AMSC) + 2% of AMSC for each credited year of service (CYS) in excess of ten years + ₱1,000.
- 40% of the average AMSC + ₱1,000.
- Average Monthly Salary Credit is the average of your monthly salary credits for the last 60 months before the month you retired or became disabled.
- Creditable Years of Service is the number of years you have contributed to the SSS, up to a maximum of 10 years
- Pension Factor is a number based on your age and the number of creditable years of service. You can find the pension factor in the SSS table of pension factors, which is available on the SSS website or at any SSS office.
Using the SSS Pension Multiplier Table
To calculate your SSS pension, you will need to multiply your average monthly salary credit by the corresponding multiplier for your contribution period, as shown in the table below:
|300 months or more||3%|
It is important to note that the pension calculator is intended for informational purposes only and should not be considered as a final determination of the member’s pension amount. The actual pension amount may vary based on the individual circumstances of the member and the SSS will make the final determination based on the member’s actual contributions and other eligibility requirements.
SSS Pension Computation FAQs
How many years should I pay SSS contribution to get a pension?
To be eligible for an SSS pension, a member must have paid at least 120 monthly contributions to the SSS. The member must also have at least 36 credited years of service, which are calculated based on the member’s monthly contributions and other factors.
Is the SSS pension calculator based on contributions?
Yes, the SSS Pension Calculator is based on contributions. It calculates the estimated pension amount based on the member’s total contributions to the Social Security System.
It also calculates the amount of pension that a member is eligible to receive upon retirement, based on his/her age and years of contributions.
Is pension in SSS lifetime?
Yes, the pension in SSS is for a lifetime. The Social Security System (SSS) provides lifetime pensions to members who have reached the age of 65 years old and have at least 10 years of contributions to the System.
This pension is not just a one-time payment but is a monthly payment that is given to the member for the rest of his/her life.
Can I choose the percentage of my monthly pension based on my age at the time of retirement?
No, the percentage is determined by the SSS based on your age at the time of retirement. If you retire at age 60 or older, you will receive a higher percentage of your average monthly salary credit.
Can I receive an SSS pension if I have not reached the minimum number of credited years of service?
No, you must have at least 10 credited years of service to be eligible for an SSS pension.
Is my SSS pension adjusted for inflation?
Yes, your SSS pension is adjusted for inflation every year.
Can I receive an SSS pension if I am still working?
Yes, you can receive an SSS pension while still working, but your pension amount may be reduced if your salary is higher than the maximum salary credit.
Can I receive an SSS pension if I am self-employed?
Yes, self-employed individuals are also eligible for an SSS pension if they have paid at least 120 monthly contributions and meet the other eligibility requirements.
Can my SSS pension be suspended or terminated?
Yes, your SSS pension may be suspended or terminated if you fail to comply with certain requirements, such as submitting the required documents or failing to report any changes in your circumstances.
If you are unsure of the reasons of suspension, check our article for the common reasons why your SSS pension stopped and how to fix it.
How can I check my pension contribution in SSS?
To check your pension contributions with the Social Security System (SSS) in the Philippines, you can use the “E-services” feature on the My.SSS portal.
- To access this feature, you will need to register for an SSS account.
- Once you are logged in, you can view your contribution history and get an estimated calculation of your monthly retirement pension.
It is important to note that this estimate may not be completely accurate, as it is based on your current contribution history and other factors that may change over time.
Can I receive my SSS pension if I have not paid my contributions regularly?
To be eligible for an SSS pension, you must have paid at least 36 monthly contributions within the last 6 months before your retirement. If you have not paid your contributions regularly, you may still be eligible for a reduced pension based on the number of contributions you have made.
When can I withdraw my SSS pension?
You can withdraw your SSS pension as soon as you reach the minimum retirement age which is 60 years old. However, you can request an advanced payment anytime after you reach the age of 55 years old.
Check our article to learn what is the best time to claim your SSS Pension.
What is the full retirement age for SSS?
The full retirement age for the Social Security System (SSS) in the Philippines is 65 years of age.
Are the beneficiaries eligible if the member is dead?
In the event of a member’s death, their beneficiaries may also be eligible to receive a cash benefit, which can be provided as a monthly pension or a lump sum amount.
Learn more about the pension of surviving spouse in this article.
How many years of service are required for a full pension?
The length of service required for a full SSS pension depends on your date of birth.
- If you were born on or before December 31, 1937, you need 15 years of service to qualify for a full SSS pension.
- If you were born on or after January 1, 1938, you need 10 years of service to qualify for a full SSS pension.
How much pension will I get from SSS after 10 years?
The amount of pension you will receive from the Social Security System (SSS) after 10 years depends on the below factors;
- Your monthly salary credit,
- Your total number of credited contributions,
- The current pension rate.
To get an estimate of the amount of pension you will receive, you can use the SSS Pension Calculator on our website.
Can I receive my SSS pension if I have less than 10 CYS?
Yes, you may still be eligible for an SSS pension if you have less than 10 CYS. However, your SSS monthly pension will be calculated on the basis of the number of CYS you have.
How much is the SSS pension for the voluntary member?
The amount of pension for a voluntary member of the Social Security System (SSS) is based on the member’s monthly salary credit and the number of years of contribution. The maximum monthly pension for voluntary members is ₱2,400.
The amount is subject to change depending on the annual adjustments made by the SSS. Learn more about the importance of claiming SSS pension for voluntary members online in this guide.
Is it possible for a member of the Social Security System (SSS) in the Philippines to cancel their membership?
Once a person registers and becomes covered under the Social Security System (SSS) in the Philippines, they are considered a member for life and cannot withdraw their membership.
Even if a member fails to make contributions to the Social Security System (SSS) at some point, they may still be able to qualify for and receive benefits and loan privileges as long as they meet the necessary requirements. These requirements may include age, number of contributions, and length of coverage, among others.
It is important to note that the amount of benefits and the availability of loan privileges may be affected by a member’s contribution history.
How many years should I pay SSS contribution to get a pension?
The amount of years you need to pay SSS contributions to be eligible for a pension depends on your specific situation. Generally, it requires at least 10 years of payment to qualify for a pension.
However, this can be reduced if you have worked at least five years in the Social Security System and paid at least 120 monthly contributions. If you are a self-employed worker, you will need to pay at least 36 monthly contributions to be eligible for a pension.
What is the maximum SSS benefit?
It’s important to note that the SSS pension is subject to a maximum monthly pension rate, which is currently set at PHP 20,000. If your calculated pension exceeds this amount, it will be reduced to the maximum rate.
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