One of the many benefits that the Philippine government has provided for the Filipinos is the SSS. SSS or Social Security System is an insurance program mandated by the law to provide various loans from works of the private sector. The following individuals are covered by SSS:
- Employer – An individual that utilizes and compensates the service(s) offered by another person in a business, trade, industry or undertaking.
- Employee – An individual who works in the private sector; or ha house helper who is not over 60 years old; a Filipino Seafarer; or a worker of a foreign government or international organization.
- Self-Employed – An individual who engages in trade, business and alike who has no Employer and ears at least PHP 1,000.00 from own efforts and is not over 60 years old.
There are also individuals who may voluntarily submit their contribution and benefit from the financial services offered by SSS:
- Voluntary Member – An individual who used to be an Employer or Employee or Self-Employed but no longer working but chooses to continue their contribution to obtain the SSS benefits.
- Overseas Filipino Workers – An individual who is based to work abroad and compensated abroad as well; or a Filipino individual residing permanently in a foreign country.
- Non-Working Spouse – An individual who is married to a person that is not engage in employment with any employer.
Here is the list of benefits that you may obtain from SSS:
- Sickness Benefit – This is given to individuals on a day to day basis if the individual is found unable to work due to sickness or injury.
- Maternity Benefit – A day to day allowance given to a woman who gave birth or miscarriage.
- Disability Benefit – This is meant for individual who had become permanently disabled (partially or totally) and is given as a monthly pension or lump-sum.
- Retirement Benefit – If an individual is found unable to work due to age, the individual may benefit from retirement benefits of SSS that may be given through monthly pension or lump-sum.
- Death Claim – If an individual has a deceased member, the claim may be given either through lump-sum or monthly basis.
- Funeral Claim – An individual will be granted an amount of PHP 20,000.00 for the burial services of a deceased member.
- Salary Loan – Given to individual who is currently employed, self-employed or voluntary member.
Who are qualified for SSS Loan?
An individual may qualify for the SSS benefits if they have contributed to the insurance agency for about 36 months. The applicant, if employed, should ensure that their employer have an updated monthly contribution.
Application for SSS Loan
An applicant may either apply through creating My SSS Account online or personal. If personal, the individual may apply to an SSS branch and do the following;
- Submit the duly filled out E-6 Form and bring your SSS ID and two (2) valid IDs that has photo and your signature.
- You will have to wait for at least two to three weeks before you’ll obtain your loan from your employer if you are an employee.
Qualifications for Salary Loan
For an individual, whether employed, self-employed or voluntary, to avail the SSS salary loan, certain qualifications were indicated and implemented by SSS:
- One (1) month SSS Loan – the individual should have contributed for at least 36 months with the six (6) contributions made in the last 12 months.
- Two (2) month SSS loan – the individual should have contributed for 72 months with the six (6) contribution made within the last 12 months.
- Applicants should be 64 years of age or below.
- The applicant should not have acquired previous benefits from SSS such as; death claim, permanent disability, or retirement benefits.
Application for SSS Salary Loan:
Instead of going to the branch to apply for a salary loan with SSS, they now offer an online application through their website.
- For members applying for a salary loan, go to the website of SSS and create your My SSS account.
- Once your account has been activated, you can apply for a salary loan under E-Services.
- After obtaining your transaction number, you must inform your employer on the transaction that you’ve made.
- You will have to wait for around two (2) weeks or so before you can receive a confirmation from SSS if your application has been approved.
Two ways to check SSS contribution:
- Login to your SSS account online.
- Visit the near SSS branch in your area and request to view your contribution summary.
- SSS PRN Helpline: 920-6446 to 55 or local
- Toll-free Hotline 1-800-10-2255-777