Maximum SSS Pension Payments in 2024- What is Benefit Amount & How to Calculate It?

The Social Security System (SSS) of Republic of Philippines is responsible to make sure that a citizen does not have to go through a financial crisis because of lack of financial resources. Several programs are initiated by the SSS which aim to guarantee a major financial support for the needy citizens who are affected by the rising living expenses each year. The eligible citizens can apply for the benefits by visiting the web portal of the department. On continuing to this post, you will be able to gain useful knowledge on the social security benefits in Philippines and how much you are entitled to claim under SSS programs. Read the full post to learn more about how to calculate your SSS payment amount along with its eligibility criteria and how to claim it, so that you cannot miss any updates.

Maximum SSS Pension 2024

The Social Security System is a social insurance program established as of Social Security act of 1954 in Philippines for the workers in private, professional and informal sectors. Various monetary support programs are run by the SSS which are responsible to provide a monthly aid to the eligible citizens in the country. For instance, retirement benefit, sickness benefit, maternity benefit, disability benefit, death benefit, funeral benefit and unemployment benefit. The foremost purpose behind these programs is to assist the underprivileged individuals and their families who are affected by the inflation and high cost of living. However, not all citizens are able to claim the social security payments. The department has set certain guidelines which must be qualified by the citizen in order to be eligible for the monthly aid. Thus, it is advised to check your eligibility criteria before proceeding to any further procedures.

To be able to claim the pension in their retirement age or due to any disability, the SSS asks its citizens to contribute a portion of their monthly checks in SSS during their employment age. The payment amount will depend on how much and how long you have contributed to the SSS. The higher you will contribute, the higher your pension will be. The SSS calculates the monthly contribution on a varied bases for employers, employees and self-employed citizens. However, there is a certain limit on how much you can contribute in a tax year. As of 2024, an employee is asked to contribute 4.5% of their monthly salary credit whereas an employer will have to contribute 9.5% of their monthly salary credit. If you are a self-employed citizen, then you will have to contribute 13% of your declared monthly earnings. The payment is directly deposited to the respective bank accounts of the recipients on the scheduled payment dates.

Maximum SSS Pension in 2024 Overview

Post title Maximum SSS Pension and How to Calculate it?
Country Republic of Philippines
Department Social Security System
Category Government aid
Applicable for Eligible citizens of Philippines
Payment method Direct deposit
Year 2024
Official website

Maximum SSS Pension Payments in 2024- What is Benefit Amount & How to Calculate It?

How Much SSS Pension You Can Claim in 2024?

As per the SSS guidelines, your payment amount will depend on how much and for how long you have contributed to the SSS. The number of years you have contributed to the SSS will be considered as credited year. For instance, if you have contributed for 10 years, then you are entitled to claim minimum of 1,200 PHP as retirement income. In addition to it, your age will also play a key role in determining your retirement benefits. I have provided the maximum SSS pension amount as of 2024 in the following table:

Category Payment amount
Retirement pension Minimum 1,200 PHP (10 credited years) or 2,400 PHP (20 credited years) per month
Disability pension Minimum 1,000 PHP (less than 10 credited years) or 2,400 PHP (20 credited years) per month
Sickness pension 90% of the average daily salary credit for up to 120 days per year
Death benefit 1,000 PHP (less than 10 credited years)

1,200 PHP (10 credited years)

2,400 PHP (20 credited years)

Funeral pension PHP 20,000 to PHP 40,000 as per contribution and salary
Unemployment pension 50% average monthly salary for two months

How to Calculate Maximum SSS Pension?

If you are looking for a better and income stable retirement age, then you must be thinking how much amount you are eligible to claim via SSS. If you have no idea of how can you calculate your monthly aid, then don’t worry. I have provided the step-by-step guide on how to calculate SSS pension mentioned in the points listed below:

  • You can easily calculate your monthly aid by using SSS pension calculator.
  • First of all, you will have to visit the official web portal of the SSS department.
  • After reaching the homepage, scroll down and locate the SSS pension calculator.
  • After that, simply enter your age and monthly salary.
  • Now click on calculate to get the estimated payment amount that you are entitled to receive.

Meanwhile, the SSS will consider the following points while determining your monthly payment amounts whether you have used SSS pension calculator or any other method to calculate your payment:

  • A person must have made at least 120 contributions.
  • There must not be a gap from the first contribution you have made.
  • Monthly salary must not exceed for the credited years.

Who is Eligible for Maximum SSS Pension in 2024?

Before applying for the Social Security payments, you must be aware of the eligibility requirements which must be qualified in order to claim the benefits. You can check the eligibility criteria set by the authorities in the following points:

  • A person must be a citizen and a permanent resident of the Republic of Philippines.
  • A person must be at least 15 years old or above.
  • If you do not have any work for an income source, then you can also apply.
  • A person with a disability or sickness which restricts him/her to work are also eligible.
  • For retirement pension, a person must be at least 60 years old and must not rely on any other employment source.
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