Want to have a tax-free equity and savings option fund investment in the Philippines? Well, now you can, by opening your SSS Provident Fund. SSS has launched their Provident Fund for eligible SSS members wanting to earn money from their investment.
While we work and save money for retirement, inflation also grows and prices keep going up. Often, we wonder if our retirement pension would be enough for our daily expenses in the near future. Because the older we get, the higher will be our cost of living.
What if we can increase our retirement money by adding investment with our social security contribution? Now, it is possible to do that by investing in SSS Provident Fund.
What is SSS Provident Fund?
SSS Provident Fund is a type of investment created to supplement the SSS benefits of members. Your funds are invested on sovereign guaranteed investments, where 65% is allocated for retirement, and 35% is for medical and general purposes. SSS PESO accounts will be charged a 1% administration fee annually.
Who Can Avail SSS Provident Fund?
The Social Security System offers this type of investment fund to the following members:
- Voluntary Members
- OFW who are interested to open this Personal Equity and Savings Option also called SSS PESO fund
Requirements to Open SSS Provident Fund:
- Open to all active members – employees, voluntary and OFW, below 55 years old
- Minimum of P1,000 placement up to maximum of P100,000 per year
- Self-employed, OFW and Voluntary members must be paying their maximum SSS contribution to qualify for the SSS PESO Fund
- Redemption is upon the member’s retirement or in cases of total disability. Early redemption is also allowed but there are penalties and service fees involved.
This is beneficial to members because it’s tax free. Maybe you’re wondering how the funds are invested and how they earn income. They are invested on Treasury bills which generates returns over time.
I think that makes them related to money market funds and fixed income instruments. The portion for retirement are invested on 5-year treasury bills while the portion for medical and general purpose are invested on 364-day treasury bills.
SSS Provident Fund Benefits:
- Savings + investment – the more you contribute to your SSS PESO fund, the more you gain
- Tax free – unlike other investments, you won’t need to pay sales tax, capital gains tax and withholding tax on this
- Lower placements – the minimum placement is lower compared to other investments
- Supplements your SSS retirement benefits – you’ll get pension + your PESO Funds (and its profit)
Disadvantages of SSS Provident Fund:
- No official online monitoring system or feature yet
- RTB can’t generate so much income
- Less risks, less returns
- Redemption is upon retirement
Hope you like my SSS Provident Fund review here. To learn more, you can read the complete rule about this SSS PESO Fund at the Social Security Law, Section 4 (a) (2).
What are your thoughts on this investment plan? Will you participate on one or would you rather rely on the usual mutual funds such as money market funds and bond funds? Share your views by commenting below.
70 thoughts on “Complete Guide for SSS Provident Fund for SSS Members”
Hello Ms. Fehl, tanong ko lang po, nakapaghulog na po ang husband ko nang SSS contributions niya nang more than 10yrs as a voluntary member, sa ngayon ay 56 years old na siya, Sa ngayon ay patuloy pa din siyang naghuhulog ng kanyang voluntary contributions, tama po bang ipagpatuloy pa niya ang kanyang paghuhulog sa SSS o hintayin na lang po niya ang kanyang retirement age na 60years old? Please enlighten me with regards to this matter. Thank you and more power.
Good am po.ask ko lang po about sa pag hulog.sa sss#.nka pag hulog. na po ako kaso po OFW po ung pwede daw hulugan.d daw po pwede ung wlang work.kya po nag hulog n lng po ako.kase po sabi.need ko po mka get ng SSS I’d. Un ang binigay n lng option.OFW.khit d pa po ko nag aabroad.pwede po b un?.at ma’am kukuha po kase ako ng passport kya po nag apply po ako ng SSS I’d. Thanks po Sana po mabasa nyo po ito. Wheng po from Cavite
what is UMID card? Is it possible to update the account as OFW even though I’m not in the Philippines?
Its good. But what is not good about it is the redemption time……
Hello admin Fehl..ask ko lng po…dati po ako OFW,1 year na po ako nandito sa Manila at nagtatrabaho bilang kasambahay…bali 7 years po ako sa Kuwait nagwork…member po ba ako sa SSS??maraming salamat po…sana po masagot nyo po tanong ko..God bless po sa inyo..
hello po Ms. Fehl, me loan po ako sa SSS since 2007 pa, di pala nahuhulugan ng employer ko dati kahit kinakaltasan ako. gusto ko po sana bayaran kaya lang baka sobra laki na ng interest. me mga condonation program po ba para ma lessesn babayaran ko? TY po.
Sometimes SSS offers condonation pero ang program na iyon ay hindi permanent. We have to wait for the decision of the board. Wait for announcement nalang po
hi ask ko lang po sana may previous loan po ako sa dati ko employer.eh meron na po aq bgo employer at akala ko nababayaran ng employer ko only to find out na hindi pala kahit 1.00. so ngaun po wla na naman ako employer, gusto ko po sana mgloan ulit ng inquire aq 74months na so pwede na ulit aq magaply ng loan. kaya lang po wla nko employer ngaun?binayaran ko na po ung klhati ng loan ko. pwede pa po ba ako mgloan as voluntary member?pano po ang process?ngresign po kasi aq june 2015, ngaun po sna july 2015 aq magaply for loan.mrmi slmat po
ma’am gud day! ano po ang advantage ng mataas ang contibution like 1,100/month sa mababang contribution like 110/ month as voluntary sa panahon na mag retire ang member at sa pension na matatanggap. thanks po
Mas mataas ang pension coz mas mataas ang contributions
Hi Ms. Fehl hope u have a good day 🙂 No. 1 fan mo ako at I always read some of your reply sa mga kapwa ko member. Ask ko lang po sana msagot nyo po …
1) May pinagkaiba ba ang halagang matatanggap na pension ng member kung sya ay naghuhulog ng maximum contribution w/c is Php. 1,760 at ang nakakapaghulog lng ng maliit?
2) Anu po ba pinagkaiba ng flexi fund at Peso fund?
Thanks po and God bless u!!!
Hi. Thank you Larry. Yes, syempre if you contribute big amount, your pension would follow although in SSS I can say hindi yun significant unlike sa investments like Mutual Funds. I think Flexi Fund is created for OFWS. We will do the review of it here soon
hi maam fehl ask ko lang sana before po kasi employed ako then andito po ako sa abroad nakikipagsapalaran hanap ng trabaho sana for now wala pa po ako work gusto ko po sanang pagpatuloy sss ko pwede po ba sa bracket na mababa muna like 220 per month para po hindi lang ma stop contribution ko.
maraming salamat po!
Yes, you can update your account as voluntary member while you’re not yet employed
Hi Ms. Fehl, dati active ako sa paghulog sss contribution ko during our family business pero when my dad retires nakapag hulog ako more then 120 contributions. Then nahinto nko sa paghulog. Pano po un? Thank you!
I suggest you go to SSS and update your account to resume your contributions, sayang naman ang benefits if di ka magresume
mam,good day po,ask ko lang po noon pa pong 1994 ako kumuha ng sss no.hnd ko pa po nahuhulugan hanggang ngayon ano po ba dapat ko gawin?gusto ko na po kc hulugan
Go to SSS and update your account, then pay your contributions
Ma’am ,taong ko lng po mgkano po va minimum contribution bago mkaavail o kya pwede na mgstart ng flexi fund
Hi Ms. Fehl,
I am interested with SSS PESO Fund, please tell me how can I join with this program. Is there any available downloadable form online? Can I pay my contribution for this at any SSS branch?
While SSS website is currently not reliable, I suggest you apply for the SSS Provident Fund personally at the SSS branch that handles your membership
Hello sis thumbs up for you! By the way, Ive been a member of sss as VM for 6 years but then i stopped paying for it , i had some inquiry on phone (sss) regarding on how to resume my payment and as i spoke to the lady she told me that i need to pay 1760 peso/month bec i applied for flexie fund, Ms fhel is it possible not to continue with that fund and just pay the regular contribution towards my sss?also im overseas how can i be able to start paying mine?much appreciated for your quick response. Thanks
I suggest you go to SS personally when you’ll be able to visit the Philippines to check and update your account. You must be an OFW now instead of VM. You can also settle the best option to your flexi fund at your wish
Ask q lang mgkano ung ngging.monthly pension mo kung nghhulog ka sss amounting 330 kpag self emplyed? Ilang contribuion din ba dapat ihulog pra mka avail ng monthly pension? Ty
Hi, Ms. Fhel Pwede na po ba akong makakuha ng SSS or UMID CARD kung 1week pa lang akong member ng SSS ?
Pay contributions continuously so you can become active member. Try to apply for UMID in 6 months
Hi ask ko lng po,lets say nsa USA or CANADA ka nagwowork..kailangan po ba e declare mo yong net income mo dito sa abroad in peso?
Hi. May sss no. napo ako Pero do ko po nabayaran noon. Gusto ko po mag bayad kaso wala ako sa pinas pwede po ba ipakisuyo sa kaibigan any pay bayad kahit wala ako pirma? Gusto ko din po sumali sa SSS PESO paano po ba? Thanks po
Kpag po ba magreregister sa sss may babayaran po ba? At kelan po makukuha ang sss i.d
Yes, you need to pay monthly contributions
hi is there any way to apply online on SSS?I’m here in abroad and i want to apply for SSS and even the SSS peso but i don’t know how..any ideas please and thank u
There is no online application feature for this yet.
mam, ano po gagawin kung mali ang name ko sa SSS pero tama ang sss number at nkloan p ako. dati n ako sss member.
Request a correction of name. Submit NSO BC to support your request
Good day, ma’am! Ask ko lng po, ilang taon na po akong sss member but never pa po ako nka contribute kahit isang buwan at ngayon po balak ko sana po mag hulog na. Eh kaso po nsa abroad ako ngayon ano po ba dapat kong gawin? Yung ilang taon ko po bang naiwanan babayaran ko po ba yun at magkano naman po? Thank u po! Hope to hear from you soon. Good bless u po!
Update your SSS account as OFW and pay your annual contributions
Hello! Ask ko lang po is the SSS Provident Fund is tied up with my monthly contribution as an employee?
Can I open the SSS Provident Fund on my own (without informing my employer) and make deposits on it on my own too?
Thank you for your help. : )
It’s another account given to SSS members and it’s not mandatory. You need to open one if you want it, I think yes even without informing your employer
Ask q LNG po kpag po b my sss e1 n po pd n po mahulugan???tyaka ku2ha po AQ ng sss I’d,anu po b ung requirements??thank po
Update your membership to what type of member you are and pay your contributions continuously. In 6 months I think you can apply for UMID card
Are we required to put money in regularly or is it at our discretion?
I think once you added this account, you’ll fund it monthly or as you scheduled on the application form.
good day maam/sir
mag inquire lng po ako;… nag apply po e1 sa sss ..4 years ago pero hindi ko po nahulugan…pwede ko ba yun hulugan this year? second po,, pwede po ba mag voluntary na lang po? ano po ang process at how much po ba ang mababayad monthly?
thank you and god bless
hope for your reply
Can u also do a review on Pag ibig II provident fund. Appreciate it much when u do. Btw, thank you for the website.
Thank you. I will grant that request for you. 🙂
Big thanks, Fehl! You have a big heart my dear, let me tell you that. I have been directing some friends to your website. Im not really good into details and Im not good at explaining so your website is of a big help to people like me. If I can influence even one person in my circle to get into the habit of investing, Im very happy already. As a matter of fact, I did influence some of my relationships to invest in UITF and mutual funds and Im very happy with that. Keep the fire burning, Fehl! I got you on this and Im with u. Keep being a light! Love and Light!.. Bella
Hi Pretty Bella. Thank you 🙂 You also have a big heart for sharing and helping people how to invest. You’re multiplying blessings. Thank you so much for letting me know you’re with me on this. Happy to know amazing people like you. God bless you always!
i want to continue my SSS contribution but i am working in Saudi Arabia recently. Kindly provide me an assistance and please provide my SSS # because i forgot already.
hi…po…..ask ko lng pano po ba maka kuha ng UMID SS card ,nawala po kc yung luma ko ss card.at saka, pano po ba ako makaka sali sa online ng sss…OFW po ako now one yr npo ako dto next month po ay unang bakasyon ko po.sana maka kuha agad ako ng iD pag vacation ko at ska yung contribution ko at loan gusto din malaman ….
Yes, if active member ka, you can apply for UMID card when you get home in the Philippines. That’s the new SSS ID now. To access your SSS online account, you need to register as a member and you need your latest SSS receipt
hi po ask ko lang nag stop po ako sa work dahil sa nag sara ang business ng boss ko bali stop ako more than 2 years sa pagbabayad ngayon kasi wala akong trabaho gusto ko sanang hulugan ulit bilang self employed ilan po kaya mababayad ko?
You must update your account and new status (SE) at SSS to resume your contributions
Hi Ms Fehl,
It is clear that the maximum of P100,000 per year, However, what is P1,000 placement? per month? or per year?
It’s minimum of 1000/year and maximum 100,000/year
Thank you Ms Fehl,
I may apply for this one. You have a very informative site.
You’re always welcome 🙂
Learned some news that the PERA (Philippine Equity and Retirement Account) might finally be rolled out in 2015. Will this be better than the PESO fund, considering the tax-free benefits and more possible investment options like equity and money market fund?
Looking forward to it and to make a review about it here soon once it launched 🙂
Hi Ms Fehl,
I’m an OFW from Saudi Arabia, and wish to know which Bank in the Philippines BUY Saudi Arabian SAR at a Higher Rates..
Please I need your feedback on this as I wanted to get single cents of my Hard earned money into a good value.
Many thank and more power!
ma:m how to apply it…
How much is the average earnings of this Peso Fund?
It’s not too much compared to other investments since earnings are based on Treasury Bills. You’ll get returns higher than time deposits. The great thing bout SSS PESO Fund is the zero tax
What is the difference of Peso Fund from Flexi fund offered to OFW’s. I am an OFW and currently a member of Flexi Fund as well. In case I wish to avail for Peso fund, how will be the system. Do I need to have another SSS number aside from my regular SSS number. Payment of Flexi Fund is the excess of the maximum monthly contributions to SSS.
pno po ung hulog jan?
How to apply for it?
Submit application form at the SSS personally and start to pay your SSS PESO contribution. Your employer or liaison officer can also assist you. If you’re voluntary member, you can go to SSS and file application.
i want job in canada
so plz give me sugesstion how to applye how give intervie .i want job in hotel 4/5star hotel as a room attendant .i am allready working in marriott hotel india
it is hard for me to enter my email address to the online registraon member. what can i i do for this?
I suggest you use Yahoo email address as mentioned by SSS registration Phase 1
ilang taon ba pwedeng mag aply ng sss sa bata at kung matanda nman pwede bang senior citizen mag open