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(q) Credited years of service – For a member covered prior to January nineteen hundred and eighty-five (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 nineteen hundred and eighty-five (1985) up to the calendar year containing the semester prior to ...
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
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
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
Jan 13, 2014 · Updated Jan 2017. To compute your SSS pension in the Philippines, you need to know 2 values: — your AMSC, which means Average Monthly Salary Credit. — your CYS, which means Credited Years of Service. What is AMSC? AMSC is the average of your last 60 monthly salary credits immediately prior to your semester of retirement.
May 2, 2022 · A qualified disability pensioner with 10 credited years of service receives the following SSS benefits per month: Disability pension: PHP 1,200; Supplemental allowance: PHP 500; Additional disability benefit: PHP 1,150; Total monthly SSS disability benefits: PHP 1,200 + PHP 500 + PHP 1,150 = PHP 2,850. SSS Lump Sum Disability Benefit ...
May 25, 2024. Share. In this article: Using the SSS Pension Calculator. How SSS Calculates Your Pension. Why You Need Your AMSC. How to Calculate Your SSS Pension Manually. Taking Charge of Your Retirement. You may have imagined life after 60 as living near the beach or exploring new places.
Sep 5, 2023 · 3 Formulas for SSS Pension Computation. Three formulas are used to calculate the SSS pension, but whichever yields the highest amount will determine the final pension. Formula 1: ₱300 + 20% of average monthly salary credit (AMSC) + 2% of AMSC for each credited year of service (CYS) in excess of ten years + ₱1,000. Formula 2:
Apr 1, 2024 · ⦁ ‘The minimum monthly Disability Pension is P1,000 if the member has less than ten (10) credited years of service (CYS); P1,200 if with at least 10 CYS; and P2,400 if with at least 20 CYS.’ (Summary of SSS Benefits, p. 1)
