Question: How Much Is The 13th Month Pay Of SSS Pensioners?

How much is the SSS pensioner Christmas bonus?

“Qualified pensioners who received a Christmas cash gift of P10,000 in 2019 will be granted an amount equivalent to their one-month pension up to a maximum of P10,000,” the GSIS said.

The SSS said the December pension and 13th-month bonus would be credited to pensioners’ bank accounts beginning Dec.

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Who is eligible for 13th month pay?

All rank and file employees regardless of their designation or employment status who have worked at least one month during the calendar year are entitled to a 13th month pay. The 13th month pay shall be in the amount not less than 1/12 of the total basic salary earned by the employee within the Calendar day.

What does date of contingency mean?

First, a Definition: The contingency period refers to a time period that starts the date an offer is accepted and ends on the contingency removal date, which is a date named in the accepted offer.

Who can claim SSS lump sum?

To qualify for lump sum retirement benefit, a member is at least 60 years old (or 55 years old, if an underground mineworker) for optional retirement, or 65 years old (or 60 years old, if an underground mineworker) for technical retirement, and has paid less than 120 monthly contributions.

How much pension can I get?

Assets Test A single homeowner can have up to $583,000 of assessable assets and receive a part pension – for a single non-homeowner the lower threshold is $797,500. For a couple the higher threshold to $876,500 for a homeowner and $1,091,000 for a non-homeowner.

Is there an increase in SSS pension 2020?

Pension loan releases from January to November 2020 reached P3. 17 billion combined for 69,813 retiree-pensioners, an increase of 61 percent (P1. 20 billion) and 11.5 percent (7,210 pensioners), respectively, from the same period last year.

How much pension you can get from SSS?

The monthly pension will be the highest amount resulting from either one of these three pension formulae: the sum of P300 plus 20 percent of the average monthly salary credit plus two percent of the average monthly salary credit for each credited year of service (CYS) in excess of ten years; or.

Does absences affect 13th month pay?

Note that 13th-month pay is computed as the number of months rendered by the employee which means additional holiday pays and premiums will not be included in the computation. The formula is total basic salary minus total of salary deductions including absences, lates, and undertime over 12 months.

Can I stop paying SSS after 10 years?

You can stop paying contribution after you make a final SSS benefit claim for total disability or retirement. Although you only need a minimum of 120 monthly contributions to qualify for a retirement pension, it doesn’t mean you should stop paying contributions once you reach this amount.

How do you calculate 13th month?

To compute your 13th month pay, multiply your basic monthly salary to the number of months you have worked for the entire year then divide the result to 12 months.

What is contingency date in SSS?

The date of contingency refers to the following date of retirement, death and disability of the member. For SSS pension-related inquiries, you may refer to the SSS circular and FAQs from SSS, contact their hotline at 8920-6446 to 55 or email member_relations@sss.gov.ph.

How can I check my SSS pension online?

Just select E-Services and go to Inquiry if you want to check your monthly contributions. See the example below. Then select Actual Premiums. You will be able to view and check your SSS monthly contributions at the screen from the start up to the present time.

What is the rule for 13th month pay?

— The required 13th month pay shall be paid not later than December 24 of each year. An employer, however, may give to his employees one half (½) of the required 13th month pay before the opening of the regular school year and the other half on before the 24th of December of every year.

What is the lowest SSS pension?

The minimum monthly Retirement Pension is P1,200 if the member has 120 months contribution or at least ten (10) CYS; or P2,400 if with at least 20 CYS. A cash benefit granted – either as a monthly pension or a lump sum amount – to the beneficiaries of a deceased member.

What is the retirement age in SSS?

60 years oldA member is qualified to avail of this benefit if: Member is 60 years old, separated from employment or ceased to be self-employed, and has paid at least 120 monthly contributions prior to the semester of retirement.