Relevance of Marriage Documents in the Provision of Pension

Relevance of Marriage Documents

in the Provision of Pension

Presented by: Agnes E. San Jose

Assistant Vice President,RDF Program

Relevance of Marriage Documents in the Provision of Pension.ppt

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


Background on Social Security

System

• Enacted on September 1, 1957

the Social Security Act of 1954 or

the Social Security Law (SS Law)


•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

•


The Social Security System (SSS)

administers two programs for workers in

the private sectors:

The Social Security Program; and

The Employee’s Compensation Program

(EC)


Benefits Granted under SSS


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


• 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.


• 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.


FORMULA THE HIGHER OF:

P300 + (20% x AMSC) +[2% x AMSC x (CYS - 10)]

40% x AMSC

MINIMUM PENSION


Beneficiaries Entitled

to SSS Benefits


Beneficiaries of SSS BenefitsSicknessMaternity Member

Partial/TotalDisabilityRetirementDeath Legal spouse,

Legitimate,legitimated orlegally adopted andillegitimate child


Primary Beneficiaries

Legitimate dependent spouse

until the person remarries.


•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


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


Entitlement of illegitimate minor children to:

50% of the share of the

legitimate, legitimated or

legally adopted children in the

basic pension; and100% of the dependents’

pension


Secondary Beneficiaries

Dependent parents of the

deceased member will get the

benefit in the absence of primary

beneficiaries


Designated Beneficiaries

Other person designated by the

member as his/her beneficiary, in

the absence of primary and

secondary beneficiaries


Effects of Marriage

Certificate in the

Granting Benefits


• Death Certificate of the Deceased

Member

• Marriage Certificate

• Birth/Baptismal Certificate of

dependent minor children, if any

Requirements for Death Claim


• Marriage Certificate, if with

children

• Birth/Baptismal Certificate of

dependent minor children

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

Requirements for Retirement Claim


Dependents

Entitlement to dependents

pension, the higher of 10% of

the monthly pension or P250.00


Payment of 5 dependents

beginning with the youngest and

without substitution


Spouse Entitlement to receive monthly

pension until the person

remarries or dies, if the deceased

member has paid at least thirty-

six monthly contributions


All legitimate spouse of Muslim

SSS member, not exceeding four,

are entitled to receive monthly

pension


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.