{"id":2883,"date":"2023-02-16T11:13:09","date_gmt":"2023-02-16T11:13:09","guid":{"rendered":"https:\/\/kabayanremit.com\/blog\/?p=2883"},"modified":"2023-02-16T14:54:37","modified_gmt":"2023-02-16T14:54:37","slug":"saving-with-sss-peso-funds","status":"publish","type":"post","link":"https:\/\/kabayanremit.com\/blog\/finance\/saving-with-sss-peso-funds\/","title":{"rendered":"Growing your savings with an SSS PESO Fund &#8211; Everything Filipinos need to know"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675854115914\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>When you\u2019re thinking about the future, it\u2019s always good to have some savings set aside for emergencies, goals, and needs.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675854133215\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>While putting your money in a bank account is good, it won\u2019t grow as much as spreading your cash out between savings and investments.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676454656513\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Yes, investing can be risky, but luckily there are fixed-income, government-guaranteed investment programs that an Overseas Filipino Worker (OFW) like you can enjoy.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676454717273\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>We\u2019ve discussed Pag-IBIG\u2019s <a href=\"https:\/\/kabayanremit.com\/blog\/finance\/mp2-savings-and-pag-ibig\/\">MP2 Savings<\/a> in a previous blog, but today, let\u2019s discuss the Philippine Social Security System (SSS) and the SSS PESO Fund.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_raw_code wpb_content_element wpb_raw_html\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ol>\n<li><a href=\"#sss\">What is SSS?<\/a><\/li>\n<li><a href=\"#benefits\">What are my SSS Benefits?<\/a><\/li>\n<li><a href=\"#required\">Is SSS required?<\/a><\/li>\n<li><a href=\"#join\">How do I join SSS?<\/a><\/li>\n<li><a href=\"#ofws\">Is SSS required for OFWs?<\/a><\/li>\n<li><a href=\"#howmuch\">How much should OFWs pay SSS?<\/a><\/li>\n<li><a href=\"#whenshould\">When should OFWs pay SSS?<\/a><\/li>\n<li><a href=\"#whatelse\">What else should OFWs know about SSS?<\/a><\/li>\n<li><a href=\"#grow\">How can OFWs grow their savings with SSS?<\/a><\/li>\n<li><a href=\"#pay\">How do I pay my SSS Contributions<\/a><\/li>\n<\/ol>\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_raw_code wpb_content_element wpb_raw_html\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<h3 id=\"sss\" style=\"font-size: 24px\" ;=\"\">What is SSS?<\/h3>\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left  vc_custom_1676455197429\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"600\" src=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/13-growing-savings-with-sss.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"\" title=\"13-growing-savings-with-sss\" srcset=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/13-growing-savings-with-sss.jpg 1000w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/13-growing-savings-with-sss-300x180.jpg 300w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/13-growing-savings-with-sss-768x461.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455233812\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>SSS is an insurance program run by the Philippine government.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455355350\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Its goal is to ensure you have some savings set aside in case you become sick, injured, or unemployed. It also provides some financial assistance for both maternity and retirement.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_raw_code wpb_content_element wpb_raw_html\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<h3 id=\"benefits\" style=\"font-size: 24px\" ;=\"\">What are my SSS benefits?<\/h3>\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left  vc_custom_1676026879338\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"600\" src=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/2-growing-savings-with-sss.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"\" title=\"2-growing-savings-with-sss\" srcset=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/2-growing-savings-with-sss.jpg 1000w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/2-growing-savings-with-sss-300x180.jpg 300w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/2-growing-savings-with-sss-768x461.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455405257\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Whether you stick with only the regular SSS program or put additional savings into a SSS PESO Fund or Flexi-Fund account, you will have these benefits:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455778852\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li><strong>Sickness benefit \u2013<\/strong> You can get an allowance to cover the days you couldn\u2019t work because of an illness or injury<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455783341\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li><strong>Maternity \u2013<\/strong> Whether you are married or not, you can get an allowance for each pregnancy that results in a live birth, a miscarriage, or an emergency termination<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455788119\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li><strong>Disability \u2013<\/strong> If a partial or total disability keeps you from working, you can get a monthly pension or a lump sum amount to help ends meet<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455795589\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li><strong>Unemployment \u2013<\/strong> If you lose your job as an OFW, regular employee, or household helper, you can get some monetary assistance while you\u2019re in the process of finding a new job<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455810035\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li><strong>Retirement \u2013<\/strong> You can receive a monthly pension or a lump sum to cover expenses once you decide to stop working and retire<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455814904\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li><strong>Death \u2013<\/strong> You can leave your beneficiaries a monthly pension or a lump sum after you pass away<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455820169\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li><strong>Funeral \u2013<\/strong> If you pay for an SSS member\u2019s funeral, you can receive a cash benefit<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455642811\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Putting a bit of your <a href=\"https:\/\/kabayanremit.com\/blog\/finance\/5-money-management-tips-for-ofws\/\">savings<\/a> into an SSS account has its advantages, so you should think twice before opting out of the program. For some, there is no way around it.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_raw_code wpb_content_element wpb_raw_html\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<h3 id=\"required\" style=\"font-size: 24px\" ;=\"\">Is SSS required?<\/h3>\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left  vc_custom_1676026960074\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"600\" src=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/3-growing-savings-with-sss.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"\" title=\"3-growing-savings-with-sss\" srcset=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/3-growing-savings-with-sss.jpg 1000w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/3-growing-savings-with-sss-300x180.jpg 300w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/3-growing-savings-with-sss-768x461.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455707270\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Yes and no. Depending on your employment status, an SSS account can either be required or voluntary.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675858465742\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>For compulsory coverage, these people <strong>must pay<\/strong> SSS contributions:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675858478938\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Employers (both in businesses and those that employ household helpers)<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675858497565\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Employees in private organisations<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675858506093\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Self-employed workers<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455762718\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Household help, also known as kasambahay<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676477663638\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Land-based and sea-based Filipino expatriates<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675858543721\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Note: Not all Filipinos based abroad are required to pay SSS contributions. Some overseas Filipinos can be voluntary members.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675858580410\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>For voluntary coverage, the following Filipinos <strong>can choose<\/strong> to pay SSS contributions:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675858799910\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Non-working spouses who are not employed but act as the manager of their household<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455905252\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Filipinos based abroad who have:\n<ul>\n<li>Immigrated to a new country<\/li>\n<li>Become permanent residents in a new country<\/li>\n<li>Become naturalised citizens in a new country<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676455911785\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Separated members who:\n<ul>\n<li>Have become unemployed<\/li>\n<li>Recently stopped being OFWs<\/li>\n<li>Have become unemployed and ceased to be a non-working spouse<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_raw_code wpb_content_element wpb_raw_html\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<h3 id=\"join\" style=\"font-size: 24px\" ;=\"\">How do I join SSS?<\/h3>\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left  vc_custom_1676027019214\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"600\" src=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/4-growing-savings-with-sss.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"\" title=\"4-growing-savings-with-sss\" srcset=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/4-growing-savings-with-sss.jpg 1000w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/4-growing-savings-with-sss-300x180.jpg 300w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/4-growing-savings-with-sss-768x461.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676456265038\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>If you\u2019ve already signed up with SSS but can\u2019t remember your Social Security (SS) number, contact your nearest SSS Branch or send an inquiry using the <a href=\"https:\/\/crms.sss.gov.ph\/\" target=\"_blank\" rel=\"noopener\">USSSAP TAYO<\/a> portal. Do not re-apply for a new SS number.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675858924508\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>If you haven\u2019t signed up with SSS, here is how you get your SS number:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676456444616\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ol>\n<li>Visit the <a href=\"https:\/\/www.sss.gov.ph\/sss\/portlets\/siteDesign\/homeindex\/homeIndex.jsp\" target=\"_blank\" rel=\"noopener\">SSS online portal<\/a><\/li>\n<li>Click \u201cApply for an SS number online\u201d<\/li>\n<li>You will be directed to a registration page with instructions<\/li>\n<li>Click \u201cStart\u201d<\/li>\n<li>Fill out the online registration form, then click \u201cSubmit\u201d<\/li>\n<li>You will receive an email to continue your application<\/li>\n<li>Fill out the next form<\/li>\n<li>Click \u201cGenerate SS number\u201d<\/li>\n<li>Get your SS number and print your accomplished application form, SS Number Slip, and Transaction Number Slip using the PDF files sent to your email<\/li>\n<li>Check your email for your <a href=\"https:\/\/member.sss.gov.ph\/\" target=\"_blank\" rel=\"noopener\">SSS<\/a> activation link and a list of required supporting documents<\/li>\n<li>Visit your <a href=\"https:\/\/www.sss.gov.ph\/sss\/getBranchDir.action\" target=\"_blank\" rel=\"noopener\">nearest SSS branch<\/a> and present your registration documents<\/li>\n<li>The branch\u2019s e-centre personnel will guide you through getting your Unified Multi-Purpose ID Card (UMID)<\/li>\n<\/ol>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676456591142\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>When you visit an SSS office, you should bring with you your birth certificate or your:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675864259157\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Baptismal certificate<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675864269336\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Driver\u2019s license<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675864280444\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Passport<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675864291191\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Professional Regulation Commission (PRC) card<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676456647753\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Seaman\u2019s book (Seafarer\u2019s identification card and record book)<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675864317473\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>You can also bring any two of the following:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675864331232\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>ATM card<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675864340196\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Bank account passbook<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675864349175\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Company ID<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675864357679\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>School ID<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675864369281\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Voter\u2019s ID<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676456836578\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>See the full list of supporting documents <a href=\"https:\/\/www.sss.gov.ph\/sss\/DownloadContent?fileName=List%20of%20Valid%20Identification%20Cards.pdf\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_raw_code wpb_content_element wpb_raw_html\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<h3 id=\"ofws\" style=\"font-size: 24px\" ;=\"\">Is SSS required for OFWs?<\/h3>\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left  vc_custom_1676044380119\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"600\" src=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/9-growing-savings-with-sss.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"\" title=\"9-growing-savings-with-sss\" srcset=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/9-growing-savings-with-sss.jpg 1000w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/9-growing-savings-with-sss-300x180.jpg 300w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/9-growing-savings-with-sss-768x461.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676456921049\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>It bears repeating: If you are an OFW under 60 years old, based on land or at sea, you must pay SSS contributions. This also applies to prospective OFWs who already have a confirmed job waiting for them abroad.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676456952224\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Like regular employees paying SSS contributions back home, OFWs will be covered by the same benefits on the month and year of your first contribution.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675864567719\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>There are also voluntary programs, like the SSS PESO Fund, that can help you grow your savings before retirement.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_raw_code wpb_content_element wpb_raw_html\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<h3 id=\"howmuch\" style=\"font-size: 24px\" ;=\"\">How much should OFWs pay SSS?<\/h3>\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left  vc_custom_1676028308316\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"600\" src=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/8-growing-savings-with-sss.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"\" title=\"8-growing-savings-with-sss\" srcset=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/8-growing-savings-with-sss.jpg 1000w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/8-growing-savings-with-sss-300x180.jpg 300w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/8-growing-savings-with-sss-768x461.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676457123461\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>According to the Republic Act 11199, or the <a href=\"https:\/\/www.sss.gov.ph\/sss\/DownloadContent?fileName=DraftIRR_SSActof2018.pdf\" target=\"_blank\" rel=\"noopener\">Social Security Act of 2018<\/a>, the minimum monthly salary credit (MSC) that requires SSS contributions is PHP 8,000. Whether you pay the full contribution or only a part of it depends on whether you are sea or land based.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675864690849\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Sea-based OFWs are considered employees of their manning agencies; thus, they share the responsibility of paying SSS with their employers.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676457712230\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Fourteen percent of your monthly salary as a sea-based OFW goes to paying SSS contributions. You will pay 4.5%, while your employer will pay the remaining 9.5% along with PHP 10 or PHP 30 compensation, depending on how much you make.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676457457373\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>As a guide, check out this table from the <a href=\"https:\/\/www.facebook.com\/photo\/?fbid=527990556107256&amp;set=pb.100066889475143.-2207520000.\" target=\"_blank\" rel=\"noopener\">SSS Official Facebook Page.<\/a><\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675866764738\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Land-based OFWs have a different arrangement.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675866778800\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>If you are a land-based OFW working in a country with a bilateral labour agreement (BLA) with the Philippines, then you follow the same payment scheme as seafarers. This means you and your employer are both responsible for paying your monthly SSS contributions.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676457550388\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Meanwhile, land-based OFWs working in countries that do not have a BLA with the Philippines are considered self-employed. This means they must pay their SSS contributions in full. That\u2019s 13% of their monthly income.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676457760954\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Check out this table from the <a href=\"https:\/\/www.facebook.com\/photo\/?fbid=527990589440586&amp;set=pb.100066889475143.-2207520000.\" target=\"_blank\" rel=\"noopener\">SSS Official Facebook Page<\/a> for a guide.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675866878952\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>If you work in a country without a BLA, how much you contribute to SSS will depend on the salary you declare.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675866890515\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Looking at both payment schedules, you\u2019ll see that workers who make more than PHP 20,000 must put in an additional contribution to a mandatory provident fund. More on that later.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_raw_code wpb_content_element wpb_raw_html\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<h3 id=\"whenshould\" style=\"font-size: 24px\" ;=\"\">When should OFWs pay SSS?<\/h3>\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left  vc_custom_1676044723921\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"600\" src=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/11-growing-savings-with-sss.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"\" title=\"11-growing-savings-with-sss\" srcset=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/11-growing-savings-with-sss.jpg 1000w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/11-growing-savings-with-sss-300x180.jpg 300w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/11-growing-savings-with-sss-768x461.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675867012873\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Sea-based OFWs and those working in countries with BLAs are considered regular employees, so they and their employers must pay their SSS contributions at the end of each month.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675867024071\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Meanwhile, land-based OFWs working in countries without BLAs must follow this payment schedule:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676457908109\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li><strong>Dec. 31:<\/strong> Contributions for January to September of the same year<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675867645586\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li><strong>Jan 31: <\/strong>Contributions for October to December of the previous year<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_raw_code wpb_content_element wpb_raw_html\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<h3 id=\"whatelse\" style=\"font-size: 24px\" ;=\"\">What else should OFWs know about SSS?<\/h3>\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left  vc_custom_1676027193804\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"600\" src=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/6-growing-savings-with-sss.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"\" title=\"6-growing-savings-with-sss\" srcset=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/6-growing-savings-with-sss.jpg 1000w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/6-growing-savings-with-sss-300x180.jpg 300w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/6-growing-savings-with-sss-768x461.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675867696193\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Your work and savings are important, so it\u2019s good to know some rules in the Social Security Act of 2018 that apply to you.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675867705853\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Here are some notable points in the law:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676458025467\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>RA 11199 requires the Department of Foreign Affairs, the Department of Labour and Employment, and other government agencies that serve OFWs to establish BLAs with various host countries. Eventually, this will help land-based OFWs who currently pay SSS contributions as self-employed workers. With a BLA, their employers will help carry the load, just like what manning agencies do for OFWs at sea<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676458067329\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>You can make advanced SSS contributions, but you must keep track of any changes in policy as these may require you to make additional payments<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676458071165\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>If you stop being an OFW, you can continue making voluntary contributions, so you can keep your SSS benefits<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676458326569\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Land-based OFWs will have to pay SSS contributions before they can get their Overseas Employment Certificate (OEC), which allows them to leave the Philippines for work:\n<ul>\n<li>New hires, direct hires, and government-to-government hires must pay one month\u2019s contribution<\/li>\n<li>Re-hires or returning workers must pay three months\u2019 contributions<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676458046034\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Land-based OFWs can update their MSCs to reflect their current salaries:\n<ul>\n<li>If you are younger than 55 years old, you can update your MSC as much as needed in a year, but it must not go lower than the minimum salary of PHP 8,000<\/li>\n<li>If you are 55 years old and above, you can go up a salary bracket once a year or to match the SSS\u2019s new minimum MSC if it changes in the future<\/li>\n<li>If you are aged 55 and above, you can declare a higher MSC more than once in a year if you are a first-time OFW or if you change your membership type<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_raw_code wpb_content_element wpb_raw_html\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<h3 id=\"grow\" style=\"font-size: 24px\" ;=\"\">How can OFWs grow their savings with SSS?<\/h3>\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left  vc_custom_1676461747240\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"600\" src=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/14-growing-savings-with-sss.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"\" title=\"14-growing-savings-with-sss\" srcset=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/14-growing-savings-with-sss.jpg 1000w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/14-growing-savings-with-sss-300x180.jpg 300w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/14-growing-savings-with-sss-768x461.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675867856951\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>There are three government-managed funds OFWs can use to increase their savings with SSS. These are:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675867850491\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>SSS PESO Fund<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675867865414\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>SSS Flexi-Fund<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675867873796\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>WISP<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675867906669\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Let\u2019s talk about each.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868019210\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><strong>SSS PESO Fund<\/strong><\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868032836\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Short for Personal Equity Savings Option, the SSS PESO Fund is a voluntary provident fund that any SSS member can use to maximise their benefits.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868061650\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><a href=\"https:\/\/www.sss.gov.ph\/sss\/DownloadContent?fileName=PESO%20FUND.pdf\" target=\"_blank\" rel=\"noopener\">According to the SSS<\/a>, \u201cThrough this program, members who have the capacity to contribute more are given the opportunity to save more to receive higher benefits in the future.\u201d<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868080282\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>To start, you can contribute a minimum of PHP 1,000 and a maximum of PHP 500,000 in a year.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868092315\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>From here, your savings will be spread out into three accounts:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868101910\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>65% for retirement and total disability<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868109706\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>25% for medical needs<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868117309\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>10% for general purposes (e.g., schooling, housing, or unemployment)<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868259554\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Over time, your savings will reap tax-free earnings because of the SSS office\u2019s fixed-income <a href=\"https:\/\/kabayanremit.com\/blog\/finance\/types-of-investments\/\" target=\"_blank\" rel=\"noopener\">investments<\/a> in treasury bonds and bills.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868139629\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>To be eligible to enrol in the SSS PESO Fund, you must meet the following criteria:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676542901435\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>You are an SSS member aged 54 and below<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676542904395\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>You\u2019ve made at least six consecutive monthly contributions within the year of your enrolment<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676542908590\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>You are self-employed, voluntary, or an OFW member paying the maximum contribution in the regular SSS program<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676542912847\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>You haven\u2019t made a final claim of your savings in the regular SSS program<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676542918364\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>To enrol in the SSS PESO Fund, you can choose from two ways:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676542924326\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>You can fill out an <a href=\"https:\/\/www.sss.gov.ph\/sss\/DownloadContent?fileName=SPF_ENROLLMENT_FORM.pdf\" target=\"_blank\" rel=\"noopener\">enrolment form<\/a> and submit it to the nearest SSS branch<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676543021152\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>You can enrol through your My.SSS account at <a href=\"http:\/\/www.sss.gov.ph\" target=\"_blank\" rel=\"noopener\">www.sss.gov.ph<\/a><\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868583380\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Once you have your SSS PESO Fund account, you can withdraw up to 35% of your savings if needed. However, if you withdraw funds before your account is five years old, you will be charged a penalty and manager\u2019s fee.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868594622\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>To fully withdraw your savings and earnings, you will have to wait for your account to mature when you retire. Total disability and death also result in account maturity. After your death, your beneficiaries each get an equal share of the total accumulated value.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left  vc_custom_1676462035944\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"600\" src=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/15-growing-savings-with-sss.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"\" title=\"15-growing-savings-with-sss\" srcset=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/15-growing-savings-with-sss.jpg 1000w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/15-growing-savings-with-sss-300x180.jpg 300w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/15-growing-savings-with-sss-768x461.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868613561\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><strong>SSS Flexi-Fund<\/strong><\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868641536\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Unlike the SSS PESO Fund, the <a href=\"https:\/\/www.sss.gov.ph\/sss\/DownloadContent?fileName=OFW_Brochure.pdf\" target=\"_blank\" rel=\"noopener\">SSS Flexi-Fund<\/a> is only open to OFWs who are under 60 and are paying the maximum contribution in the regular SSS program.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868653330\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>This is a voluntary program that allows OFWs to contribute a minimum of PHP 200 without a maintaining balance or a maximum deposit amount.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868674850\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>All you need to do to join the program is:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676543573149\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Sign up at your nearest SSS branch or completed this <a href=\"https:\/\/www.sss.gov.ph\/sss\/DownloadContent?fileName=flexi-fund-enrollment.pdf\" target=\"_blank\" rel=\"noopener\">enrolment form<\/a> and email it to <a href=\"mailto:ofw.relations@sss.gov.ph\">ofw.relations@sss.gov.ph<\/a><\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676543638362\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Pay at least an excess of PHP 200 into your regular SSS contributions whenever you can. Your excess funds will be credited to your Flexi-Fund account<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868758073\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>The perks of joining this program are:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676543409257\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>Your funds will go into fixed-income investments. Then, you can get a share of the income in annual incentive benefits (AIB) if you haven\u2019t made any withdrawals or claims within the year<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676543415143\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>You can withdraw funds in case of emergencies with no transaction fees if your account is older than a year<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676543723915\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>What you save and earn can be used, tax-free<em>\u00ad, <\/em>for:\n<ul>\n<li>Retirement<\/li>\n<li>Disability<\/li>\n<li>Death<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left  vc_custom_1676462229809\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"600\" src=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/16-growing-savings-with-sss.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"\" title=\"16-growing-savings-with-sss\" srcset=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/16-growing-savings-with-sss.jpg 1000w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/16-growing-savings-with-sss-300x180.jpg 300w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/16-growing-savings-with-sss-768x461.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868812980\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><strong>WISP<\/strong><\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676544037648\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>WISP stands for Worker\u2019s Investment Savings Program. It is a <strong>mandatory <\/strong>program for active SSS members who earn more than the maximum MSC of PHP 20,000.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676544047890\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>While SSS PESO Fund or Flexi-Fund contributions are covered by the account holder, WISP payments are shared between an employee and their employer. They make these payments at the same time as they pay their regular SSS contributions.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868853600\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>There\u2019s also no need to fill out any forms or present any documents to join the program. If you earn more than PHP 20,000, you are automatically enrolled to WISP.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868874637\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>While this is another cut out of your savings, your WISP payments will go to the following investments:<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868885177\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>75% to risk-free government securities<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676544256297\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<ul>\n<li>10% &#8211; 20% to blue chip corporations<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675868947585\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>You\u2019ll get a share of what SSS makes from these investments, and the more you save in WISP, the larger the share you get.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675869027161\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Once you retire, or in case of total disability, you can claim your WISP savings and earnings along with your regular SSS benefits. That means you\u2019d get more back at the end of the day than if you hadn\u2019t opened a WISP account.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676544367386\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>In case of death, your beneficiaries will be the same as the people you listed in the regular SSS program, and they can receive your remaining WISP funds in one lump sum.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_raw_code wpb_content_element wpb_raw_html\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<h3 id=\"pay\" style=\"font-size: 24px\" ;=\"\">How do I pay my SSS Contributions<\/h3>\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left  vc_custom_1676044452817\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"600\" src=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/10-growing-savings-with-sss.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"\" title=\"10-growing-savings-with-sss\" srcset=\"https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/10-growing-savings-with-sss.jpg 1000w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/10-growing-savings-with-sss-300x180.jpg 300w, https:\/\/kabayanremit.com\/blog\/wp-content\/uploads\/2023\/02\/10-growing-savings-with-sss-768x461.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675869120358\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Paying your SSS contributions can be a hassle, but it should pay out in the end.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676544414637\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>When you make your deposits online, you\u2019ll want to use an app that is convenient and secure.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1676544499078\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>For on-the-go OFWs who are saving for retirement, <a href=\"https:\/\/kabayanremit.com\/\">Kabayan Remit<\/a> offers an easy money transfer solution with great exchange rates and very low fees.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element  vc_custom_1675869235310\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>To learn how you can <a href=\"https:\/\/kabayanremit.com\/help-center\/what-bills-can-i-pay-for\/\">send funds to SSS<\/a>, follow our steps <a href=\"https:\/\/kabayanremit.com\/help-center\/how-to-pay-bills\/\">here<\/a>.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>When thinking about the future, it\u2019s always good to have some savings set aside for emergencies, goals, and needs. The Philippine Social Security System (SSS) and the SSS PESO Fund will help your money grow ready for when you need it. <\/p>\n","protected":false},"author":5,"featured_media":2989,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[102],"class_list":["post-2883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-sss-peso-fund"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is an SSS Peso Fund? - Everything Filipinos need to know<\/title>\n<meta name=\"description\" content=\"Get more out of your savings with the government-guaranteed Philippine Social Security System (SSS) Peso Fund, a voluntary provident fund.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kabayanremit.com\/blog\/finance\/saving-with-sss-peso-funds\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is an SSS Peso Fund? 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