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Jun 21, 2022 · Credited Years of Service (CYS) is the total number of years your SSS contribution is paid. One CYS is equivalent to at least 6 months’ contributions paid in any given year. 3 Simple Formulas to Compute Your SSS Pension
The Credited Years of Service (CYS) are simply the number of years you contributed to the SSS fund. To learn what the Average Monthly Salary Credit (AMSC) means, please see the FAQ section below. Formula 1: The minimum pension shall be PHP 1,200 for members with at least 10 CYS and P2,400 for those with at least 20 CYS
EST, AND PROSPER, this law paved the way for a more responsive SSS. More importantly, RA No. 11199 strengthened the SSS as a pension fund and empowered the Social Security Commission by according them autonomy and leeway in decision-making.
Credited Years of Service – The credited years of service shall be as follows: (1) For a member covered prior to January 1985, the credited years of service shall be 1985 minus the calendar year of coverage plus the number of calendar years in which six (6) or more contributions have been paid from
Credited Years of Service – The credited years of service shall be as follows: 1. For a member covered prior to January 1985, the credited years of service shall be 1985 minus the calendar year of coverage plus the number of calendar years in which six (6) or more contributions have been paid from January 1985 up to
Mar 1, 2024 · Your paid contributions and the number of service years credited determine how much you will get as SSS retirement pension benefits. The greater your contributions and years of service, the larger your monthly pension will be.
Dec 24, 2023 · Applicants must have at least 120 monthly contributions to the SSS, and they must be at least 60 years old upon retirement. Additionally, individuals who wish to avail of this pension must have made their latest contribution within the last twelve months before retirement.
