SSS Retirement Benefits for Retiring Filipinos

The Social Security System (SSS) Retirement Benefits program stands as a significant support structure for Filipinos entering the golden age of retiring. This program offers two primary financial aids: the Monthly Pension and the Lump Sum payment. The Monthly Pension is an enduring benefit, providing a steady income stream for life, while the Lump Sum is a single disbursement given to those who have not accumulated the prerequisite 120 monthly contributions. These ensure that Filipinos who have spent their lives contributing to the workforce are not left without support as they step into retirement.

Targeted at members who have hit the age of 60 and are retiring, the program is grounded in the Republic Act No. 8282, which underlines the government’s dedication to providing a safety net for its senior citizens. Qualifying for this program requires a history of at least 120 monthly contributions to the agency, and applicants must complete the Retirement Benefit Claim Form. Participants can expect to navigate a clearly defined application process that includes eligibility verification, document preparation, and submission, leading to the disbursement of benefits that is designed to uphold their dignity and financial well-being during their years of rest.

retirement benefit

What are SSS Retirement Benefits?

SSS Retirement Benefits are designed to provide financial assistance to members who have reached the age of retirement. The program includes two main types of benefits: the Monthly Pension and the Lump Sum. The Monthly Pension is a continuous monthly benefit paid out for life, while the Lump Sum is a one-time payment given to retirees who haven’t met the required number of monthly contributions.

Significance of this Benefit

The SSS Retirement Benefits in the Philippines serve as a fundamental pillar of the country’s social security system, providing financial support to workers transitioning into rest after long years of work. Under Republic Act No. 8282, these benefits are structured as either a monthly pension or a lump sum payment, ensuring that individuals who have dedicated their lives to the workforce are cared for in their later years. Eligibility requires at least 120 monthly contributions, reflecting the government’s commitment to a sustainable program that rewards consistent participation in the workforce. As a testament to its significance, the Retirement Benefits not only offer a safety net for the aging population but also contribute to the overall economic stability by ensuring that retirees maintain purchasing power, which in turn supports consumer spending and economic circulation.

Legal Basis

These benefits are grounded in the Republic Act No. 8282, also known as the Social Security Law. This law mandates the provision of social security to workers in the private sector, including retirement perks.


  • Monthly Pension: A lifelong monthly payment whose amount varies based on the member’s paid contributions and years of service.
  • Lump Sum: A one-time payment offered to members who have not reached the required 120 monthly contributions.

Example Monthly Pension Computation

To compute the monthly retirement pension in the Philippines, you can use the following formula:

Monthly Pension=max(P1,200,P2,400+P1,000,P300+20%×AMSC+2%×AMSC×(CYS−10)+P1,000,40%×AMSC+P1,000)


  • AMSC (Average Monthly Salary Credit) is the average of your monthly salary credits for the last 60 months before retirement.
  • CYS (Credited Years of Service) is the total number of credited years of service.

Here’s a sample computation:

  • Let’s say the AMSC is PHP 20,000 and the CYS is 30 years.
  • The computation would be:

Monthly Pension=P300+20%×PHP 20,000+2%×PHP 20,000×(30−10)+P1,000

Monthly Pension=P300+P4,000+P8,000+P1,000

Monthly Pension=PHP 13,300

Eligibility / Qualifications

Eligible members must have:

  • Reached the age of 60 and retired from employment or self-employment.
  • Accumulated at least 120 monthly contributions before the semester of retirement.
  • Special conditions apply for underground mine workers and total disability pensioners.


  • A duly accomplished Retirement Benefit Claim Form.
  • Proof of at least 120 monthly contributions.
  • Valid IDs and any additional documents as specified by the agency.

Retirement Benefit Claim Form: How to Fill Out

claim form page1
Screengrab taken from the SSS website

Filling out the SSS Retirement Benefit Claim Form may seem daunting, but with a step-by-step guide, you can do it accurately. Here’s how:




Part I – Member’s Information

  • SS Number: Enter your 10-digit Social Security number.
  • Name of Member: Write your full name starting with your surname, then your given name, and middle name.
  • Address: Include your complete address where you currently reside.
  • Date of Birth: Input your date of birth in the format of mm/dd/yyyy.
  • Place of Birth: State the town/district and city/province of your birthplace.
  • Gender: Check the appropriate box indicating your gender.
  • Civil Status: Select your civil status from the options given.
  • Telephone/Mobile No.: Provide your contact numbers.
  • Name of Employer: If you were employed before retirement, state the name of your last employer.
  • Employment History: Indicate your complete employment history as required. If additional space is needed, attach a separate sheet.

Part I – Dependent Children’s Information

  • Dependent Children: List down the names of your dependent children below 21 years old or above 21 but incapacitated, along with their birth dates and addresses.

Part I – Other Information

  • Advance Pension: Indicate if you wish to receive the first 18 months pension in advance, if applicable.
  • Current Pension: State if you’re already receiving any pension and specify the type.

Part I – Certification

After completing the form, sign the member’s certification, asserting that all provided information is true and correct.

Part II – Preferred Mode of Payment

  • Preferred Mode of Payment: Indicate whether you would like to receive your benefits through Cash Card or ATM/Passbook.
  • Name of Bank/Branch: Write the name of the bank and branch where your account is located.
  • Bank Address: Provide the complete address of the bank.

Part II – Certification

  • Signature of Member: Affirm the certification with your signature and date.
  • Witnesses to Fingerprints: Have two witnesses sign if you can’t sign and affix your fingerprints instead.

Certificate of Separation from Last Employer

If required, your last employer must complete this section certifying your date of separation.

For SSS Use

This section will be used by SSS personnel to process and validate your claim.

Instructions and Warning

Make sure to read the instructions and warnings carefully to avoid mistakes or submitting false information, as this could result in criminal liability.


  • To fill out the form in capital letters and use black ink.
  • Attach photocopies of required documents such as your marriage certificate (if applicable) and a valid ID.
  • Do not leave any mandatory fields empty.

By carefully following these instructions, you’ll ensure a smoother process in claiming your Retirement Benefit. After completing the form, submit it to the nearest SSS branch along with the other required documents as per the instructions provided.

Step-by-Step Guide on How to Avail of the SSS Retirement Benefit

  1. Determine Your Eligibility: Verify if you meet the age and contribution requirements.
  2. Gather Required Documents: Prepare your Retirement Benefit Claim Form, valid IDs, and proof of contributions.
  3. Submit Your Application: For the Monthly Pension, applications can be filed online via the My.SSS Portal for eligible members. For Lump Sum claims or those with specific conditions, submission should be made at SSS branches.
  4. Wait for Approval: The agency will process your application and notify you of the outcome.
  5. Receive Your Benefits: Upon approval, your benefits will be disbursed either through your enrolled bank account for Monthly Pensions or as a lump sum payment.

Recent Updates

SSS Sets New Income Record, Ensuring Long-Term Pension Security

In a remarkable feat, the Social Security System has achieved a record-breaking net income of P83.13 billion last year, a 58.04 percent increase from the previous year. This achievement highlights the prudent management of expenditures and the agency’s commitment to safeguarding its pension funds. With this significant growth, the agency can continue to provide sustainable pension for its retiring members. (Business Mirror)

Retirement Benefit Tops SSS Benefit List with P156.7 Billion Disbursed in 2023

The Social Security System released a total of P156.7 billion in retirement benefits to 2.2 million members in 2023, making it the most availed SSS benefit last year. This amount represents a 10.7 percent increase from the previous year. Retirement benefit is a cash benefit granted to members who can no longer work due to old age, providing them with a lifetime monthly pension or a one-time lump sum amount based on their contributions. (Journal Online)

SSS Retirement Payouts Reach P156.7B, Unemployment Benefits Decrease

The Social Security System reported a 4.9% decrease in unemployment assistance, indicating an improvement in the Philippine labor market. In 2023, P914.1 million was disbursed to 64,000 unemployed members, compared to P961.4 million in the previous year. Additionally, the SSS released P156.7 billion in retirement benefits to 2.2 million members, making it the most availed benefit of the pension fund. (Business Mirror)

Unmasking Fake News: Understanding the Computation of SSS Retirement Benefits

This informative video addresses the rampant issue of fake news, particularly concerning the computation of Retirement benefits. It calls upon viewers, referred to as “ka-eSSSperts,” to be vigilant and discerning when encountering such misinformation. The video aims to clarify the correct basis for computing these and dispel any false claims circulating online. It’s a must-watch for anyone looking to understand their entitlements accurately and avoid being misled by unverified sources.

Important Reminder for Pensioners: Comply with ACOP before March 31, 2023!

In order to ensure the uninterrupted flow of your pension, it is important for pensioners to comply with the Annual Confirmation of Pensioners (ACOP) before the deadline of March 31, 2023. It is important to note that retirement pensioners residing in the Philippines are exempted from this requirement.


Video: What you need to know about the SSS Retirement Benefit

This video provides an overview of the SSS Funeral Benefit, highlighting key information such as eligibility criteria, types of benefits, and the application process. It also directs viewers to additional resources for comprehensive outlines and updates on SSS contributions and assistance.



Retirement is a significant phase in life that offers a new chapter of freedom and opportunities. The SSS Retirement Benefits serve as an essential support system for Filipino workers, ensuring that their later years are marked by dignity and financial security. By understanding and utilizing these, retirees can embrace a future where they can enjoy the fruits of their labor, explore new horizons, and live their retirement years to the fullest.

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