FIRST SEMESTER 2004 PERFORMANCE REVIEW

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Relevance of Marriage Documents in the Provision
of Pension
Presented by Agnes E. San JoseAssistant Vice
President,RDF Program
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A. Background on Social Security System B.
Benefits Granted under SSS C. Beneficiaries
Entitled to SSS Benefits D. Effects of
Marriage Certificate in the Granting of
Benefits
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• Background on Social Security System
• Enacted on September 1, 1957 the Social Security
  Act of 1954 or the Social Security Law (SS Law)

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• SSS provides protection to members and their
  families against the hazards of
• - disability - sickness
• - maternity - old-age
• - death and and other
• contingencies resulting in loss
• of income or financial burden

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• The Social Security System (SSS) administers two
  programs for workers in the private sectors
• The Social Security Program and
• The Employees Compensation Program (EC)

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Benefits Granted under SSS
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• Sickness - a cash allowance to be paid for the
  number of days a member is unable to work due to
  sickness or injury.
• Maternity - a cash allowance granted to a female
  member who was unable to work due to childbirth
  or miscarriage

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• Disability - paid to a member who becomes
  permanently disabled either totally or partially.
• Funeral - to help defray the cost of funeral
  expenses upon the death of a member.

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• Retirement - paid either in monthly pension or
  lump sum to a member who can no longer work due
  to old age.
• Death - paid either in monthly pension or lump
  sum given to compensate for loss of support from
  the member.

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• FORMULA
• THE HIGHER OF
• P300 (20 x AMSC)
• 2 x AMSC x (CYS - 10)
• 40 x AMSC
• MINIMUM PENSION

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• Beneficiaries Entitled to SSS Benefits

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• Primary Beneficiaries
• Legitimate dependent spouse until the person
  remarries
• .

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• Dependent legitimate, legitimated or legally
  adopted and illegitimate children of the deceased
  member. who are
• unmarried
• not gainfully employed
• has not reached twenty-one years (21) of age, or

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• Over twenty-one (21) years of age, he is
  congenitally or while still a minor has been
  permanently incapacitated and incapable of
  self-support, physically or mentally

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• Entitlement of illegitimate minor children to
• 50 of the share of the legitimate, legitimated
  or legally adopted children in the basic pension
  and
• 100 of the dependents pension

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• Secondary Beneficiaries
• Dependent parents of the deceased member will
  get the benefit in the absence of primary
  beneficiaries

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• Designated Beneficiaries
• Other person designated by the member as his/her
  beneficiary, in the absence of primary and
  secondary beneficiaries

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• Effects of Marriage Certificate in the Granting
  Benefits

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Requirements for Death Claim

• Death Certificate of the Deceased
• Member
• Marriage Certificate
• Birth/Baptismal Certificate of
• dependent minor children, if any

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Requirements for Retirement Claim

• Marriage Certificate, if with
• children
• Birth/Baptismal Certificate of
• dependent minor children

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Requirements for Retirement Claim

• Certification of separation paper, if member is
  less than 65 years old or
• Certification of cessation of business or
  profession, if member is less than 65 years old

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• Dependents
• Entitlement to dependents pension, the higher
  of 10 of the monthly pension or P250.00

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• Payment of 5 dependents beginning with the
  youngest and without substitution

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• Spouse
• Entitlement to receive monthly pension until the
  person remarries or dies, if the deceased member
  has paid at least thirty-six monthly
  contributions

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• All legitimate spouse of Muslim SSS member, not
  exceeding four, are entitled to receive monthly
  pension

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• If not legally married and children are over 21
  years of age, benefit shall be paid to the
  secondary beneficiaries or in its absence, to the
  designated beneficiaries.

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End of Presentation