In order to find your monthly salary credits, you’ll need to know what bracket your monthly income falls under. Take a look at this official chart to find the monthly income brackets: https://www. sss. gov. ph/sss/DownloadContent?fileName=CONTRIBUTION_TABLE_FLYER_June_7_2019_rev. pdf For example, if in the past 30 months you made an income of 10,800 PHP per month, the monthly salary credit would be 11,000 PHP, as 10,800 falls within the 10,750-11,249. 99 bracket on the chart. If in the 30 months before this you made an income of 8,500 PHP, the monthly salary credit from those months would be 8,500 PHP, as 8,500 falls within the 8,250-8,799. 99 bracket.

For example, in order to find your AMSC, you would perform the following calculation. Multiply each monthly salary credit by how many months you received this credit, add these numbers together, and then divide by 60. For example, if you received a monthly salary credit of 11,000 PHP for 30 months, and a monthly salary credit of 8,500 PHP for 30 months, calculate 11,00030 + 8,50030, then divide the result by 60. With these numbers, you will end up with an AMSC of 9,750 PHP.

For example, if you’ve made 30 years of payments, or 360 total monthly contributions, you will have a minimum pension of 2,400 PHP per month.

For example, if your AMSC is 9,750 PHP, multiply this by 0. 4 to calculate 40%. The result will be 3,900 PHP, which will be your monthly pension.

For example, if your AMSC is 9,750 PHP, and you’ve made 30 years of contributions to SSS, we can calculate your pension under this formula in the following way. Start by multiplying 9,750 by 0. 2 to find 20% of the AMSC: in this case, that amount will be 1950 PHP. Then, subtract 30 by 10, to find how many years of contributions you have beyond 10 years. In this case, that will be 20. Since we add 2% of the AMSC for each additional year past 10 years, we will multiply 2 by 20, to find that we’ll need to calculate 40% of your AMSC. To calculate 40% of your AMSC, multiply your AMSC by 0. 4. In this case, that will be 9,750*0. 4, which will give us a number of 3,900 PHP. Then, we’ll add our numbers together, along with an additional 300 PHP. In this case, that will be 1950 PHP + 3,900 PHP + 300 PHP. The total amount for our monthly pension is therefore 6,150 PHP.

For example, if the first formula gave you a monthly pension of 2,400 PHP, the second gave you 3,900 PHP, and the third gave you 6,150 PHP, the third formula leads to the highest amount. Therefore, your monthly pension will be 6,150 PHP.

For example, if your monthly pension is 6,150 PHP, multiply this amount by 0. 1 to find 10%. In this case, that will be 615 PHP, and since this amount is greater than 250 PHP, your dependents will each receive 615 PHP as a monthly pension.

Contact a bank if you need help starting a savings account, or if you need help forwarding this information to SSS. Banks are experienced in helping clients get ahold of their pensions.

If you haven’t made the 120 contributions yet, you can also continue to contribute into SSS during retirement until you hit this number. Once you complete the 120 monthly payments, you can begin receiving a monthly pension. [13] X Research source