Kahalagahan ng MySSS Pension Booster sa SSS member

@Buti na lang may SSS | June 30, 2024

Dear SSS, 

Magandang araw! Nais kong malaman kung bakit mahalaga ang tinatawag na MySSS Pension Booster ng SSS sa mga miyembro? At paano ko makikita ang record ng naihuhulog ko sa nasabing programa?  Salamat.

— Lilia

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Mabuting araw sa iyo, Lilia!

Mahalaga ang MySSS Pension Booster sapagkat ito ay nagsisilbing karagdagang social protection ng mga miyembro bukod sa kanilang regular SSS program.

May dalawang schemes ang MySSS Pension Booster. Isa rito ang mandatory scheme ng MySSS Pension Booster o dating tinatawag na Workers’ Investment and Savings Program (WISP).

Ang MySSS Pension Booster ay isa sa mga probisyon sa ilalim ng Republic Act No. 11199 o ang Social Security Act of 2018 na sinimulang ipatupad noong Enero 2021. Ito ay isang retirement savings program na pinangangasiwaan at ipinatutupad ng SSS upang matulungan ang mga miyembro na makaipon ng mas malaki para sa kanilang pagreretiro. Tulad ng regular SSS program ay hinuhulugan din ito kada buwan.

Nasasakop ng mandatory scheme ng MySSS Pension Booster ang mga miyembro na kumikita ng maximum monthly salary credit na mahigit sa P20,000 at walang final claim sa ilalim ng regular SSS program. Awtomatiko naman ang pagiging kasapi nila sa nasabing programa.

Ang kanilang magiging buwanang hulog ay mula P70 hanggang P1,400. Kailangan namang ang miyembro ay aktibong naghuhulog ng kanyang buwanang kontribusyon sa ilalim ng regular SSS program.

Halimbawa, kung ikaw ay kumikita ng P23,750 kada buwan, bawat buwan ay maghuhulog ka ng P2,830 para sa iyong regular SSS contribution, kasama na rito ang P30 na hulog para naman sa Employees’ Compensation Program, at P560 naman ang napupunta sa iyong MySSS Pension Booster.

Sa mga covered employee o mga miyembro na may employer na pinapasukan, paghahatian nila ang hulog sa MySSS Pension Booster, gaya ng sa regular na hulog sa SSS. Halimbawa, ikaw, Lilia ay kumikita ng P23,750 kada buwan at nag-iipon ng P560 bawat buwan para sa MySSS Pension Booster, ang magiging share ng iyong employer ay P380 samantalang sasagutin mo naman ang P180.

Maaari ring i-check ng miyembro ang posting ng kanyang kontribusyon sa MySSS Pension Booster sa pamamagitan ng kanyang My.SSS account. Mag-log in sa kanyang account sa My.SSS. Sunod, magtungo sa “Inquiry” tab at i-click ang “Contributions.” Makikita rito ang contributions niya sa MySSS Pension Booster maging ang posting ng kanyang buwanang hulog sa regular na SSS program.

Ilalagak ng SSS sa investment ang mga kontribusyon ng mga miyembro sa MySSS Pension Booster. Ang anumang kikitain dito ay ibabalik ng proporsyonal sa miyembro depende sa halaga ng kanilang contributions. Ang posted contribution sa isang buwan ay magkakaroon ng share sa investment income simula sa unang araw ng susunod na buwan. Hindi lamang nag-iipon ang miyembro kundi kumikita pa ang pinag-iipunan niya.

Sa iyong pagreretiro, Lilia, pareho mong makukuha ang iyong retirement benefit mula sa regular na programa ng SSS at ang iyong naipon sa MySSS Pension Booster. Ang MySSS Pension Booster ay magandang pagkakataon upang magkaroon ka ng isang mas komportableng pagreretiro kung saan lahat ng iyong naipon ay siya mo namang pakikinabangan sa kinabukasan. Bukod dito, ang iyong maiipon sa MySSS Pension Booster ay tax-free at ginagarantiyahan ng SSS.  

Patuloy na tumatanggap ng aplikasyon ang SSS para sa loan penalty condonation program nito.  Inilunsad ang Consolidation of Past Due Short-Term Member Loans with Condonation of Penalty Program (Conso Loan) para tulungan ang mga miyembro na mayroong past-due loans sa SSS. Sa ilalim ng programa, hindi na sisingilin ang kaukulang penalties o multa ng kanilang past-due loans. Sa halip, ang tangi na lamang nilang babayaran ay ang orihinal o principal amount at interes nito.

Maaaring bayaran ang prinsipal at interes sa pamamagitan ng one-time full payment, o kaya’y bayaran kahit 10% nito bilang down payment at ang natitirang balanse ay babayaran ng hulugan sa loob ng hanggang 60 buwan o limang taon, depende sa halaga ng kanilang pagkakautang.

Sakop ng Conso Loan ang salary loan, calamity loan, Salary Loan Early Renewal Program (SLERP), emergency loan, at restructured loans gaya ng Loan Restructuring Program (LRP) noong mga nakaraang taon. 

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Upang makapagrehistro sa My.SSS, maaari kang magtungo sa SSS website (www.sss.gov.ph) at magparehistro sa Member portal. Kailangang punan mo ang lahat ng kinakailangang impormasyon. Tandaan na ang irerehistrong e-mail address ay kailangang aktibo at nagagamit pa dahil dito ipadadala ng SSS ang link para i-activate at magamit mo ang iyong My.SSS account. 

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Para sa tamang impormasyon at updates sa mga programa at benepisyo ng SSS, bisitahin at i-follow ang opisyal na Facebook page ng SSS sa “Philippine Social Security System - SSS” o sa X, ang dating Twitter, sa @PHLSSS. Maaari ring mag-subscribe sa YouTube channel sa “MYSSSPH”, at sumali sa SSS Viber Community, “MYSSSPH Updates”. Maaari kayong magpadala ng inyong concerns at katanungan sa usssaptayo@sss.gov.ph.

SSS urges members to boost their savings with MySSS Pension Booster

by Info @Brand Zone | June 28, 2024

Social Security System (SSS) President and Chief Executive Officer Rolando Ledesma Macasaet called on members to take advantage of the SSS savings program that will allow their invested money to grow and earn a higher return yearly.

In a press briefing, Macasaet said that SSS offers them the MySSS Pension Booster as a program to boost their retirement funds and savings, which can provide a projected annual return rate of 7.2 percent.

Macasaet said that the MySSS Pension Booster is composed of mandatory and voluntary schemes. “Under the mandatory scheme, members contributing above the ceiling of P20,000 to the Regular SSS Program are automatically enrolled in the savings plan.”

Meanwhile, Macasaet said that the voluntary scheme is open to all members, especially those who want to invest more in their retirement or savings. SSS also invites those applying for the issuance of a Social Security (SS) number to enroll in the program.

Macasaet explained that they only need P500 to start savings in the voluntary scheme of the MySSS Pension Booster, and they can contribute any amount anytime because there is no limit on the amount they can invest.

“If you want to build your retirement fund while you are young, invest in the MySSS Pension Booster. You have a medium-term financial goal? Why not start saving your money in the MySSS Pension Booster to reach that goal? Our savings program offers so much flexibility than most savings programs,” he remarked.

He said that SSS allows partial or full withdrawal of their savings in the program wherein they get their total contributions together with the investment earnings.

He added that members are encouraged to retain their money in the program until they retire. “When they get their retirement, total disability or death benefits from the Regular SSS Program, they will also receive their total contributions plus investment earnings from the MySSS Pension Booster tax-free.

Start investing now

Macasaet told maritime professionals, Overseas Filipino Workers (OFWs), self-employed professionals, and corporate executives, to start building their retirement funds as early as today, adding, “Planning and saving for retirement should begin from the first day they start earning money.”

“When people are in their 20s, they have their whole life ahead of them. Saving for their retirement becomes their least priority. However, the best time for them to start saving for retirement is today while they are young. When they retire, they will realize the immense value of building a retirement fund early in their lives,” Macasaet.

Macasaet explained that one of the benefits of planning their retirement early is they will have sufficient time to grow their retirement fund to a level they want.  “When they start young, they save smaller amounts regularly and avoid feeling the pressure of saving larger amounts a shorter period because their retirement is nearing,” he said.

He added that another advantage of saving for retirement early is compound interest, as in the case of the MySSS Pension Booster, where members’ pooled contributions earn investment income annually.

“The younger they start contributing to the MySSS Pension Booster, the longer they have time to grow their retirement savings. If they start contributing now while they are in their 20s, they will have ample time to build the retirement fund they want rather than start saving when they are already in their 40s,” he said.

Macasaet emphasized that they could maximize their earnings from the MySSS Pension Booster if they stay in the program for at least five years or more because the longer they leave their money with SSS, the bigger earnings they will get.

Earlier this week, SSS rebranded its Worker’s Investment and Savings Program (WISP) and WISP Plus into the MySSS Pension Booster as SSS repositioned its savings program to cater to corporate managers and executives, doctors, lawyers, OFWs, Filipino expats, seafarers, and young professionals who want to boost their savings or retirement funds.

The MySSS Pension Booster is among the reforms introduced by Republic Act No. 11199 or the Social Security Act of 2018, sponsored by Finance Secretary Ralph G. Recto during his tenure as a senator, who also serves as the Chairperson of the Social Security Commission, the highest governing body of the SSS.

Mandatory use of payment reference numbers for SSS housing loan payments starts this June

by Info @Brand Zone | June 21, 2024

The Social Security System (SSS) announced that SSS housing loan mortgagors or borrowers must present a Payment Reference Number (PRN) for their loan payments beginning this month, making it easier for them to pay their housing loans and have it posted on the same day on their loan accounts.

SSS President and Chief Executive Officer Rolando Ledesma Macasaet highlighted that this transition to Real-Time Processing of Loans (RTPL) is designed to enhance the convenience of housing loan borrowers.

Macasaet said that it enables the real-time posting of housing loan payments to individual loan accounts, ensuring a seamless and efficient process.

“The PRN for loans is a system-generated number corresponding to a loan billing statement of the individual loans by the borrower, which contains certain characters to distinguish the housing loan from other SSS loan programs,” he said.

He added that borrowers with outstanding loan obligations in the Direct Individual Housing Loan Program and the Direct Housing Loans for Overseas Filipino Workers (OFWs), Workers’ Organization Members, and Trade Union Members (TUM) should have a PRN whenever they pay their loan payments.

SSS Senior Vice President for Lending and Asset Management Group Pedro T. Baoy said that SSS will send a monthly billing containing the PRN to the mortgagors’ registered email addresses and mobile numbers.

“We strongly advise our housing loan borrowers to take responsibility for keeping their contact details with the SSS up-to-date. This will ensure they receive the PRN they need for every housing loan payment transaction, contributing to a smooth and timely payment process,” Baoy emphasized.

Baoy added that borrowers can also get a PRN at the SSS Housing and Acquired Assets Management Department, SSS Investments Accounting Department, or SSS Member Loans Department in the SSS Main Office, Quezon City.

Baoy explained that mortgagors will have one PRN for each outstanding SSS loan. “For example, if a borrower has an original housing loan and a Housing Repair and Improvement Loan, he/she will get two separate PRNs for each loan.”

He said borrowers can obtain the PRN every 10th day of the month, so their PRN for June 2024 will be generated on June 10.

Baoy clarified that once the PRN expires, the borrower needs to get a new PRN that contains the past due and current amounts, noting that an expired PRN will no longer be accepted for payment.

“Mortgagors can pay their monthly housing loan amortizations over the counter at SSS branch offices with tellering services or through SSS-accredited collecting partners such as Union Bank of the Philippines, Philippine National Bank, Bayad Center, and SM Mart, Inc. SSS will notify them through their registered email address and mobile number to confirm their payment and its posting on their accounts,” Baoy said.

As of December 2023, SSS has 3,744 mortgagors with housing loan collectibles amounting to P6.83 billion.