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Question:
If a person who earns 13k a month be his salary by the time he retires 40k per
month, the age of the person is 30 years old.
On the 15 year (presume starting on January) 1 digit of his toe will be removed,
and he is a football player.
AGE
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
YEAR
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
SALARY
13,000.00
14,000.00
15,000.00
16,000.00
17,000.00
18,000.00
19,000.00
20,000.00
21,000.00
22,000.00
23,000.00
24,000.00
25,000.00
26,000.00
27,000.00
28,000.00
29,000.00
30,000.00
31,000.00
32,000.00
33,000.00
34,000.00
35,000.00
36,000.00
37,000.00
38,250.00
38,750.00
39,250.00
39,500.00
39,750.00
40,000.00
PER MONTH
CONTRIBUTI
ON
1,440.00
1,550.00
1,680.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
1,790.00
ANNUAL
TOTAL
CONTRIBUTI
ON
17,280.00
18,600.00
20,160.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
21,480.00
"(b) A covered member who is sixty (60) years old at retirement and who
does not qualify for
pension benefits under paragraph (a) above, shall be entitled to a lump sum benefit
equal to the total
contributions paid by him and on his behalf: Provided, That he is separated from
employment and is not
continuing payment of contributions to the SSS on his own.
"(d) Upon the death of the retired member, his primary beneficiaries as of
the date of his
retirement shall be entitled to receive the monthly pension: Provided, That if he has
no primary
beneficiaries and he dies within sixty (60) months from the start of his monthly
pension, his secondary
beneficiaries shall be entitled to a lump sum benefit equivalent to the total monthly
pensions
corresponding to the balance of the fiveyear guaranteed period, excluding the
dependents' pension.
"(e) The monthly pension of a member who retires after reaching age sixty
(60) shall be the
higher of either: (1) the monthly pension computed at the earliest time he could
have retired had he
been separated from employment or ceased to be selfemployed plus all
adjustments thereto; or (2) the
monthly pension computed at the time when he actually retires.
"SEC.14. Sickness benefit. (a) A member who has paid at least three (3) monthly
contributions in the twelvemonth period immediately preceding the semester of
sickness or injury and is confined therefor for more than three (3) days in a hospital
or elsewhere with the approval of the SSS, shall, for each day of compensable
confinement or fraction thereof, be paid by his employer, or the SSS, if such person
is unemployed or selfemployed, a daily sickness benefit equivalent to ninety
percent (90%) of his average daily salary credit.
2. After the toe was removed he had gangrene that resulted to his
death
"SEC. 13A. Permanent Disability Benefits. (a) Upon the permanent total
disability of a member who has paid at least thirtysix (36) monthly contributions
prior to the semester of disability, he shall be entitled to the monthly pension:
Provided, That if he has not paid the required thirtysix (36) monthly
contributions, he shall be entitled to a lump sum benefit equivalent to the
monthly pension times the number of monthly contributions paid to the SSS or
twelve (12) times the monthly pension, whichever is higher. A member who (1)
has received a lump sum benefit and (2) is reemployed or has resumed self
employment not earlier than one (1) year from the date of his disability shall
again be subject to compulsory coverage and shall be considered a new
member.
One (1) Big toe = 6 months of pension
36 months is equivalent of P64, 440.00 from 2026 to 2028.
Divided by 36 (36 months) = P1790.00 (monthly pension)
Add the SSS bonus credit of P300.00
20% of the average salary credit (1790.00 X 0.20) =
P358.00
*10)
P2, 975.00
for 6 months of
"SEC. 13. Death Benefits. Upon the death of a member who has paid at least
thirtysix (36) monthly contributions prior to the semester of death, his primary
beneficiaries shall be entitled to the monthly pension: Provided, That if he has
no primary beneficiaries, his secondary beneficiaries shall be entitled to a lump
sum benefit equivalent to thirtysix (36) times the monthly pension. If he has not
paid the required thirtysix (36) monthly contributions, his primary or secondary
beneficiaries shall be entitled to a lump sum benefit equivalent to the monthly
pension times the number of monthly contributions paid to the SSS or twelve
(12) times the monthly pension, whichever is higher.
"SEC. 13B. Funeral Benefit. A funeral grant equivalent to Twelve thousand
pesos (P12,000.00) shall be paid, in cash or in kind, to help defray the cost of
funeral expenses upon the death of a member, including permanently totally
disabled member or retiree.