This is the rebranded WISP Plus, a voluntary savings scheme, which is open to all SSS members regardless of their MSC, with one (1) posted contribution, and without filed final benefit claim, and for those applying for the issuance of the SS Number.

While the MySSS Pension Booster is open to all types of SSS members, it specifically targets mid- to high-income earners who have the financial capacity to invest more, such as self-employed and maritime professionals, Overseas Filipino Workers (OFWs), and corporate executives, among others. By investing their excess incomes, these members stand to receive higher savings returns and increased retirement income in the future.

Here are the most notable features of the MySSS Pension Booster:

·         Affordable savings scheme. Members may contribute as low as ₱500.00 per payment, with no maximum limit (depending on the SSS-partner collecting agent).

·         High return of investment. In 2023, the fund for the voluntary retirement savings scheme reached ₱386 million, with ROI of 6.97%. This year, the SSS targets to reach 7.2% interest rate.

·         Tax-free investment. Total contribution and investment earnings under the MySSS Pension Booster are tax-free.

·         Easy and fast posting of contributions. Contributions can be made online through the SSS website, SSS Mobile App, or SSS’ Collection Partners’ app using a Payment Reference Number (PRN), or over the counter through SSS branches with tellering facilities or collections partners’ branch/office (local or abroad).

·         Flexible payment terms. Members can contribute anytime depending on their capacity to save. However, payment to MySSS Pension Booster contributions must be done together with their regular SSS contributions.

·         Easy access to MySSS Pension Booster records. Members can easily monitor their contributions through their individual My.SSS accounts as posting of contributions is real-time! Very soon, investment income shall also be visible in their My.SSS account.

·         Receive the total accumulated value (principal & investment income) tax-free! This is paid out as a pension, as lump sum, or a combination of both, and on top of their final benefit under the regular SSS program.

 Other Benefits

• Withdrawal is allowed on the 1st year, but only in case of member’s extreme hardship situation such as critical illness, involuntary separation from employment, repatriation from the host country (if an OFW), and other similar situations as determined by the SSS.
• Members enrolled in the program for 2 to 4 years, are also allowed to withdraw their savings partially or in full, but with a reduced income depending on the years of membership.
• Members have the option to withdraw, partially or in full, their savings from MySSS Pension Booster, from the 5th year in the program onwards.

Now, Make That Move!

• Enroll via your SSS Account.
• Other SSS membership types (Self-Employed/Voluntary Member/OFW) may enroll to the MySSS Pension Booster through their individual My.SSS accounts. Just log in to your account, click “Enroll to MySSS Pension Booster” under the Services tab, then read and accept the terms and conditions of the program.

“The aspiration for all OFWs upon their return home in the Philippines is for them to have a secure & comfortable retirement with SSS monthly pension because they were able to save and contribute during their period of gainful overseas employment.

It is for this reason that social security contributions should be viewed as a savings rather than an expense..

• Coverage in the SSS shall be compulsory upon all sea-based and land-based OFWs;
• Land-based OFWs are compulsory members of the SSS and considered in the same manner as self-employed persons under such rules and regulations that the Commission shall prescribe;
• Manning agencies are agents of their principals and are considered as employers of sea-based OFWs;
• Upon the termination of their employment overseas, OFWs may continue to pay contributions on a voluntary basis to maintain their rights to full benefits
• Filipino permanent migrants, including Filipino immigrants, permanent residents and naturalized citizens of their host countries may be covered by the SSS on a voluntary basis

For Land-Based OFWs

The monthly earnings declared by a land-based OFW at the time of his/her registration shall remain the basis of his/her MSC unless he/she makes another declaration of his/her monthly earnings, in which case such latest declaration becomes the new basis of his/her MSC. The minimum MSC for land-based OFWs shall be eight thousand pesos (P8,000.00).

Reminders:

• Deadline for the Payment of Contributions

*In case the deadline falls on a holiday (in the PH) or a weekend, payment may be made on the next working day

• A land-based OFW member who is below fifty-five (55) years old shall be allowed to change his/her MSC without limit in frequency and in number of salary brackets in a given calendar year, but in no case shall it be lower than the prevailing minimum MSC for OFWs. Submission of written request or declaration of earnings is not required.
• A land-based OFW member who is 55 years old and above shall be allowed to increase his/her MSC only once in a given calendar year and by one (1) salary bracket only from the last posted MSC, regardless of whether proof of earnings is presented or not, except for the following cases whereby certain rules shall apply accordingly:
  • In case of a change in his/her membership type from employed/self-employed/voluntary to OFW-member for the first time, he/she shall be allowed to increase his/her MSC without limit and without having to present proof of earnings; and
  • In case of a higher maximum MSC under a new applicable schedule of contributions, he/she shall be allowed to increase his/her MSC up to the new maximum MSC, without having to present proof of earnings, provided that his/her last posted MSC corresponds to the maximum MSC under the immediately preceding schedule of contributions.
• An OFW member may opt to pay his/her monthly contributions in advance regardless of the number of months or years. However, he/she may be required to settle underpayment/s in the future resulting from any policy change affecting the applicable schedule of contributions for the advance payments made.

For Sea-Based OFWs

The employer shall deduct and withhold from the employee’s monthly salary, wage, compensation or earnings, the employee’s contribution in an amount corresponding to his/her salary, wage, compensation or earnings during the month in accordance with the MSCs, the schedule and the rate of contributions as may be determined and fixed by the Commission. The employer shall pay, with respect to such covered employee, the employer’s contribution in accordance with said schedule, rate of contributions.

Generating a Payment Reference Number

Accredited Collecting Banks and Remittance Transfer Companies (RTCs)

As individual payors, land-based OFWs may remit their contributions through any of the following channels:

*List of Accredited Partners as of August 2024.

SBAs are filed online through the member’s My.SSS account. Before filing an SBA, an individual member needs to prepare the following:

• A registered SSS account in the SSS website
• An approved disbursement account in the Disbursement Account Enrollment Module (DAEM) of the My.SSS portal in the SSS website.

All initial or new claims and the following cases for adjustment shall be filed online through the member’s My.SSS account:

• SSS system computation is higher than employer’s computation
• Additional posted contributions will increase the amount of sickness benefit.

Effective 01 September 2021, the Maternity Benefit Application (MBA)/Maternity Benefit Reimbursement Application (MBRA) shall be filed online through the member’s/employer’s My.SSS account in the SSS website

BASIC DOCUMENTS

1. Disability Claim Application (DisCA) Form (downloadable at sss.gov.ph)
2. Member’s/Claimant’s Photo and Signature Form (provided by the SSS Branch for initial claims only)
3. SSS Medical Certificate Form accomplished by attending physician within six (6) months from the date of filing of claim
4. Supporting medical records (certified true copy)
5. Member or Filer’s SS card or other valid ID cards/documents

Other Supporting Documents:

Important Reminders:

1. Disability Claim applications may be filed through the member’s representative to the nearest SSS branch due to the following conditions:

• Member is either wheelchair-borne, in respiratory distress, with IV fluid or other debilitating conditions; or
• Member is confined in an institution such as hospital, correctional institution, penitentiary, rehabilitation center; or
• Member is residing abroad.

2. The SSS Medical Specialist may require the submission of additional medical records/documents necessary for the evaluation of the claim.