How to File for SSS Retirement Benefit
The SSS Retirement Benefit is a monthly pension or lump sum payment granted to members who have reached retirement age and have stopped working. Members who are at least 60 years old (optional retirement) or 65 years old (mandatory retirement) and have made sufficient contributions may claim this benefit. This guide covers the eligibility requirements, pension computation, documentary requirements, step-by-step filing process, and frequently asked questions about the SSS Retirement Benefit.
Retirement Benefit at a Glance
Monthly Pension
Granted to members with at least 120 monthly contributions. The pension is paid every month for as long as the retiree is alive. Includes a 13th-month pension paid in December.
Lump Sum
Granted to members with fewer than 120 monthly contributions. The lump sum is equivalent to the total contributions paid by the member and employer, plus interest.
Retirement Age
Optional retirement at age 60 (must have stopped working or self-employment). Mandatory retirement at age 65 (whether employed or not).
Eligibility Requirements
To qualify for the SSS Retirement Benefit, a member must meet the following conditions:
Optional Retirement (Age 60)
- At least 60 years old
- Must have separated from employment or ceased self-employment
- Has not been previously granted a final benefit (total disability or retirement)
- At least 120 monthly contributions for monthly pension, or fewer than 120 for lump sum
Mandatory Retirement (Age 65)
- At least 65 years old
- Does not need to stop working -- benefit is granted whether employed or not
- Has not been previously granted a final benefit (total disability or retirement)
- At least 120 monthly contributions for monthly pension, or fewer than 120 for lump sum
Pension Computation Formula
If you have at least 120 monthly contributions, your monthly pension is the highest amount computed using the three formulas below. The SSS automatically selects the formula that gives you the highest pension.
Formula 1: With Credited Years of Service (CYS)
P300 + (20% x AMSC) + (2% x AMSC x CYS over 10 years)
AMSC = Average Monthly Salary Credit (based on the last 60 months or total months of contributions, whichever gives a higher average). CYS = Credited Years of Service (number of years with at least 6 monthly contributions in a calendar year).
Formula 2: 40% of AMSC
40% x AMSC
This is simply 40% of your Average Monthly Salary Credit. This formula tends to apply for members with shorter contribution histories.
Formula 3: Minimum Pension
P2,000 (if with at least 10 CYS) or P1,200 (if less than 10 CYS)
This is the minimum guaranteed monthly pension. If both Formula 1 and Formula 2 yield amounts lower than this minimum, you receive the minimum pension instead.
Note: The monthly pension shall not be less than P2,000 if the member has at least 10 credited years of service, or P1,200 if less than 10 CYS. Members with at least 120 monthly contributions also receive a 13th-month pension every December. Dependents (legitimate, legitimated, or legally adopted children below 21, unmarried, and not employed) receive a dependent's pension equivalent to 10% of the member's monthly pension or P250, whichever is higher, for up to 5 minor children.
Documentary Requirements
| Document | Details |
|---|---|
| SSS Retirement Benefit Application Form | The official SSS Retirement Claim Application form. Can be downloaded from the SSS website or obtained at any SSS branch. Must be completely filled out and signed by the member. |
| PSA Birth Certificate | Original or certified true copy of PSA-issued birth certificate to verify age and identity. Must show the member is at least 60 years old (optional retirement) or 65 years old (mandatory retirement). |
| Valid Government-Issued ID | At least one valid ID with photo and signature (e.g., UMID, SSS ID, passport, driver's license, PhilSys/National ID, PRC ID, voter's ID). Bring original and photocopy. |
| Proof of Separation from Employment | For optional retirement (age 60-64): Certificate of separation from last employer, or sworn declaration of cessation of self-employment/business. Not required for mandatory retirement (age 65+). |
| Bank Account Details | Savings or checking account under the member's name for direct deposit of pension. Bring a photocopy of the ATM card or passbook showing the account number and account name. SSS-accredited banks include BDO, BPI, Landbank, RCBC, Metrobank, and others. |
| PSA Marriage Certificate | If married, submit PSA-issued marriage certificate to establish the spouse as beneficiary. Required for dependent's pension processing. |
| Children's PSA Birth Certificates | For claiming dependent's pension: PSA-issued birth certificates of legitimate, legitimated, or legally adopted children who are below 21 years old, unmarried, and not gainfully employed. Maximum of 5 minor children. |
Step-by-Step: How to File for Retirement Benefit
Follow these steps to file your SSS Retirement Benefit application. You may file at any SSS branch or through the My.SSS online portal.
Verify Your Eligibility and Contributions
Before filing, log in to your My.SSS account at my.sss.gov.ph and check your contribution records. Verify that you have at least 120 monthly contributions if you want to receive the monthly pension. Also confirm your posted contributions, monthly salary credits, and credited years of service.
Tip: If you are close to 120 contributions but not yet there, consider continuing as a voluntary member to reach the 120-month threshold. The difference between a lump sum and a lifetime monthly pension is significant.
Gather the Required Documents
Prepare all the documentary requirements listed above. Request your PSA birth certificate if you do not have a recent copy. If you retired from employment, obtain a certificate of separation or clearance from your last employer. If self-employed, prepare a sworn declaration that you have ceased self-employment or business operations.
Important: Make sure your bank account is active and under your name. SSS pensions are deposited directly to your enrolled bank account. If you do not have a bank account, open one before filing.
Fill Out the Retirement Benefit Application Form
Download the SSS Retirement Claim Application form from the SSS website or get a copy at the SSS branch. Fill out the form completely with your personal information, SSS number, employment history, bank account details, and beneficiary information. Sign the form before submitting.
Submit Your Application at an SSS Branch
Visit the nearest SSS branch and submit your completed application form together with all supporting documents. The SSS personnel will review your documents and verify your identity. They will also check your contribution records and eligibility in their system. You will receive an acknowledgment receipt upon successful submission.
Online Filing: You may also file your retirement benefit application through the My.SSS portal. Log in, go to "E-Services," select "Apply for Retirement," fill out the online form, upload the required documents, and submit. You will still need to visit a branch for verification if required.
SSS Processes Your Application
After submission, SSS will process your retirement benefit application. Processing time typically takes 1 to 2 months from the date of filing, provided all documents are complete and in order. SSS will verify your contribution records, compute your pension, and process the payment.
Receive Your Pension or Lump Sum
Once approved, your retirement benefit will be deposited directly to your enrolled bank account. If you qualify for the monthly pension, you will receive your first pension payment along with any retroactive amounts (from the month of retirement to the month of processing). Monthly pension payments are credited on the first or second week of each month. If you qualify for the lump sum only (fewer than 120 contributions), the total amount will be deposited as a one-time payment.
Tip: Monitor your bank account and My.SSS portal for updates on your application status. You can also call the SSS hotline at (02) 8920-6446 to inquire about the status of your claim.
Example: Mang Jose Files for Retirement
Mang Jose is 60 years old and has just retired from his company after 30 years of service. He has been an SSS member since 1994 and has accumulated 360 monthly contributions (30 years x 12 months). His Average Monthly Salary Credit (AMSC) is P20,000 and he has 30 credited years of service (CYS). Here is how his pension is computed and how he filed:
Pension Calculation
Formula 1:
P300 + (20% x P20,000) + (2% x P20,000 x 20 CYS over 10)
= P300 + P4,000 + P8,000
= P12,300
Formula 2:
40% x P20,000
= P8,000
Formula 3 (Minimum):
= P2,000
Highest = Formula 1: P12,300/month
Mang Jose will receive P12,300 monthly for life, plus a 13th-month pension of P12,300 every December.
Prepared Documents
Mang Jose checked his My.SSS account and confirmed he has 360 monthly contributions. He requested his PSA birth certificate, obtained a certificate of separation from his employer, and prepared photocopies of his UMID card and bank passbook (Landbank savings account).
Filed at SSS Branch
Mang Jose visited his nearest SSS branch, submitted the completed Retirement Benefit Application form along with all supporting documents. He also submitted his PSA marriage certificate and his two minor children's PSA birth certificates to claim the dependent's pension. He received an acknowledgment receipt.
Received First Pension
After about 6 weeks, Mang Jose's retirement benefit was approved. He received his first monthly pension of P12,300 plus retroactive payment for the months since his retirement date. He also receives P500 dependent's pension for each of his 2 minor children (P250 x 2 or 10% of pension x 2, whichever is higher). His total monthly benefit is P12,300 + P2,460 (2 dependents) = P14,760.
Mang Jose's Monthly Pension Summary
Based on AMSC of P20,000 and 30 credited years of service. Actual pension may vary based on individual contribution records.
Frequently Asked Questions
Can I still work after receiving the SSS Retirement Benefit?
Yes. If you opted for optional retirement at age 60, you must first stop working to receive the benefit. However, after your retirement claim is approved, you may resume working or start a new job. Your monthly pension will continue. If you are re-employed, your new employer is no longer required to deduct SSS contributions on your behalf. For mandatory retirement at age 65, you can receive the pension whether you are working or not.
What is the 13th-month pension?
The 13th-month pension is an additional monthly pension payment given to SSS retirees every December. It is equal to the basic monthly pension amount (not including the dependent's pension). This is similar to the 13th-month pay for employees. For example, if your monthly pension is P10,000, you will receive an extra P10,000 in December on top of your regular pension for that month.
Can I choose to receive a lump sum instead of a monthly pension?
No. The type of benefit -- monthly pension or lump sum -- is determined by the number of your monthly contributions. If you have at least 120 monthly contributions (10 years), you will automatically receive the monthly pension. If you have fewer than 120 contributions, you will receive the lump sum. You cannot opt for a lump sum if you qualify for the monthly pension.
What if I have unpaid SSS loans?
If you have an outstanding SSS salary loan or calamity loan balance at the time of retirement, the unpaid balance (principal plus interest) will be deducted from your retirement benefit. For lump sum recipients, the loan balance is deducted from the total lump sum amount. For monthly pension recipients, the loan balance is deducted from the initial retroactive pension payment. It is advisable to settle all outstanding loans before filing for retirement to maximize your benefit.
How much will I receive as retirement pension?
Your monthly pension depends on your Average Monthly Salary Credit (AMSC) and Credited Years of Service (CYS). The SSS uses three formulas and selects the one that gives you the highest pension. As a general guide: members who paid on the minimum MSC for 10-20 years may receive around P2,000 to P4,000 per month. Members who paid on higher MSC (P15,000-P20,000) for 20-30 years may receive around P8,000 to P15,000 per month. You can estimate your pension using the SSS online pension calculator on the My.SSS portal.
What happens to my pension when I die?
Upon the death of the retirement pensioner, the primary beneficiaries (dependent spouse and dependent children) will receive a survivorship pension. The dependent spouse receives 100% of the basic monthly pension for life (or until remarriage). Dependent children continue to receive the dependent's pension until they reach 21, get married, or become employed. If there are no primary beneficiaries, designated secondary beneficiaries receive a lump sum equivalent to 36 months of the basic pension.
Can OFWs and voluntary members file for retirement?
Yes. OFWs, self-employed members, and voluntary members are all eligible for the retirement benefit as long as they meet the age and contribution requirements. OFWs who are abroad may file through the nearest Philippine Embassy or Consulate, or they may authorize a representative in the Philippines through a Special Power of Attorney (SPA) authenticated by the Consulate.
Important Reminders
- Verify your contribution records before filing: Check your My.SSS account to ensure all contributions are posted correctly. Report any discrepancies to SSS immediately. Unposted contributions may reduce your pension amount.
- Aim for at least 120 contributions: The difference between a monthly pension for life and a one-time lump sum is significant. If you are close to 120 contributions, continue paying as a voluntary member until you reach the threshold.
- Settle outstanding loans before retiring: Any unpaid SSS loans will be deducted from your retirement benefit. Paying them off beforehand ensures you receive the full benefit amount.
- Update your bank account and beneficiary records: Make sure your bank account information on file with SSS is current and active. Also update your beneficiary records (E-4 form) to ensure your dependents are properly listed.
- File as soon as you are eligible: You can file for retirement benefit on the month of your 60th birthday (optional) or 65th birthday (mandatory). The earlier you file, the sooner you start receiving your pension. Retroactive payments are computed from the date of retirement.
- Keep copies of all submitted documents: Retain photocopies of all documents submitted to SSS, including the application form, IDs, and supporting certificates. Keep the acknowledgment receipt as proof of filing.
- Annual pension revaluation: SSS periodically adjusts pension amounts through legislation. Stay updated on any pension increases by checking the SSS website or visiting your nearest branch.
Need Help?
Contact SSS
- SSS Hotline: (02) 8920-6446 to 55
- Toll-Free: 1-800-10-2255-777
- Email: members_relations@sss.gov.ph
- Website: www.sss.gov.ph
- My.SSS Portal: my.sss.gov.ph
- Office Hours: Monday to Friday, 8:00 AM to 5:00 PM (no noon break)
Disclaimer
This guide is provided for general informational purposes only. The requirements, steps, fees, and procedures mentioned here may vary depending on the SSS branch or office you visit. We recommend visiting your nearest SSS branch or office first to confirm the specific requirements and process before preparing your documents.