Christmas day is just around the corner and as the event nears, a good news for Social Security System (SSS) pensioners has been announced by the agency on their official Facebook page- the 13th-month pay and pensions schedule.
SSS Functions
The Philippines SSS serves a vital role in supporting its members and pensioners. The SSS, in hindsight, is responsible for managing sound and viable social security system in the country.
They are also accountable for promoting social justice and providing meaningful protection to its members and their families such as hazards of disability, sickness, maternity, old age, death and other contingencies that result in loss of income or financial burden.
Read: Social Security System (SSS) Maximized Funeral Benefits From Php20,000 To Php60,000
Every year, many of its pensioners eagerly await news about the 13th-month pay and pension schedule. But what really is 13th month pay in simple terms?
The 13th-month pay is a scheme initiated by SSS since 1988 to its member-pensioners. The 13th-month pay is equivalent to a one-month of a pensioner's basic pension. In short, this is an additional cash benefit intended to SSS pensioners under their retirement benefits.
SSS pensioners also receive a separate pension payment. This pension is a regular monthly payment from the SSS to those who have contributed to the system for a certain period and have reached retirement age or meet specific conditions.
Read: How to Apply for SSS's Worker’s Investment and Savings Program and WISP Plus
Qualifications for 13th-Month Pay
The 13th-month can be availed by pensioners social security retirement pensioners, social security and employees’ compensation survivors, and total disability pensioners, which also include partial disability pensioners with pension duration of not less than 12 months.
13th-Month Pay and Pension Release Schedule
The SSS usually publishes the exact pension payment schedule on their official website and through other official channels, as such, it has freshly announced the schedule for December 2024. Please be guided below accordingly:
Read: How to compute 13th month pay and Pro-Rata 13th month pay
December 1: For pensions credited 1st-15th
- Meaning: For those who are receiving their pension from 1-15 of the month
December 4: For pensions credited 16th-end of the month
- Meaning: For those who are receiving their pensions from 16 up to the end of the month
Further Reminder:
For pensioners who availed advance 18 months: December 4, 2024
For pensions accumulated because of Annual Confirmation of Pensioners (ACOP) incompliance: December 16, 2024
SSS highlighted that if the credit date falls on a weekend or holiday, pensioners will receive their pension on the working day immediately before the scheduled date.
For all the pensioners out there, note that it is crucial for you to check the SSS website's regularly for the most up-to-date information. Delays can sometimes happen, so please stay informed.
Also, it is advisable to understand the distinction between the 13th-month pay and the SSS pension not just for SSS employees and pensioners in the Philippines, but for all the type of employees out there. Advance Merry Christmas, everyone!
Read Also: How to compute 13th month pay and Pro-Rata 13th month pay
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