DO you know that if you are a Social Security System (SSS) retirement pensioner, your pension is guaranteed for five years?
Under the Republic Act (RA) 8282 or the Social Security Act of 1997, if a retiree-pensioner dies within 60 months from the date of retirement, his primary beneficiaries (legal spouse and minor children) shall continue to receive the basic and dependents’ pension. But, in the absence of primary beneficiaries, his secondary beneficiaries (parents, legal heirs) shall receive a lump sum amount equivalent to the pension for the remaining balance of the five-year guaranteed period.
Say for example, a member retires at the age of 60 with a monthly pension of P5,400. On the 45th month since the start of his pension, he, unfortunately, passes away. His spouse had died before him and his two children are already more than 21 years old. What will happen to his pension? Considering that his pension is guaranteed for five years and his parents are long gone, his legal heirs—i.e., his children—will receive the remaining balance of the five-year guaranteed period or 15 months times P5,400. The total amount of P81,000 will be divided equally between his two children.
The same is true for total permanent disability pensioners. Their pensions are also guaranteed for five years, just like those of the retirement pensioners. In the absence of primary beneficiaries, a lump-sum amount equivalent to the remaining balance of the five-year guaranteed period times the pension amount, shall be paid to the secondary beneficiaries.
Should the retirement or disability pensioner die beyond the five-year guaranteed period and he or she has no primary beneficiaries, there are no more benefits forthcoming, except for the funeral grant of P20,000.
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For more information about the SSS and its programs, call our 24-hour call center at (632) 920-6446 to 55, Monday to Friday, or send an e-mail to member_relations@sss.gov.ph.
Susie G. Bugante is the vice president for public affairs and special events of the Social Security System. Send comments about this column to susiebugante.bmirror@gmail.com.