WISP: The SSS Provident Fund Program

Finally, it’s the third working day of the year and just like everybody else from the working population, I am back to work. Indeed, the recent holiday has been a short and relaxing respite from last year’s workload and this year, 2021, is another year to start anew. Time to revisit our personal and family goals and for the Social Security System (SSS), which I represent, to adopt better and more beneficial programs for our members and pensioners alike.

The Covid-19 pandemic has taught us several lessons and one of those is taking care of ourselves and saving for our future as well. We have faced various uncertainties and challenges for the past few months and the important thing is, we all survived.

Twenty twenty-one is full of opportunities. One of this is the Provident Fund that we have launched in our social-media platforms late last year, which is part of the significant provisions under Republic Act 11199 or the Social Security Act of 2018 when the new law was amended and approved by President Duterte in March 2019.

Side by side with the implementation of the 1 percent Contribution Rate Increase starting this month, we have launched the Workers’ Investment Savings Program (WISP), a Provident Fund Program of SSS.

What is WISP? It is a safe, convenient, principal-protected, and tax-free individual retirement savings plan that will serve to augment members’ benefits from the regular program.

Since the regular program puts a cap of P20,000 Monthly Salary Credit (MSC) in calculating benefits, the WISP will cover the contributions more than the P20,000 MSC or up to the prescribed maximum MSC.

Coverage under the WISP will be automatic to all private-sector employees, self-employed individuals, OFWs, and voluntary members who have no final claim in the regular SSS program, have contributions in the regular SSS program, and have an MSC that exceeds P20,000.

Contributions in WISP shall be paid together with contributions in the regular SSS program. This will also allow faster accumulation of a worker’s savings because of the employer share in the contribution. WISP contributions will be invested following the principles of safety, high yield, and liquidity, and as provided under the SS Act of 2018, which will yield additional pension income for contributing members.

However, earnings realized from them will be distributed proportionately based on the member’s contribution.

The total accumulated account value (AV) of the member under the WISP will be the basis of his/her additional benefits, which will be given at the same time during his/her retirement, total disability, and/or death benefits.

Unlike our programs under the Flexi-Fund Program for OFWs and the Personal Equity and Savings Options Program (PESO) with early withdrawal or refund prior to member’s retirement, the benefits under WISP can only be released to a WISP member upon his final benefit claim.

Compared to Flexi Fund, members can avail themselves of annual dividends while under WISP, benefits will be given in annuity or lump sum, depending on the manner of payment of his/her benefit under the regular SSS program.

The annuity will be given in the form of a fixed amount monthly pension to be paid until the member’s AV is fully settled, covering at least 15 years.  Worth mentioning also is upon the death of a WISP pensioner, any remaining balance in the accumulated AV will be paid to his/her beneficiary in lump sum.

What’s great with this program is that members are now assured of higher additional benefits when they retire.

To quote renowned American investor Warren Buffet, “The best investment you can make is an investment in yourself…. The more you learn, the more you’ll earn.”

He is right.

Have a great week ahead!

Aurora C. Ignacio is SSS president and chief executive officer.

We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss.gov.ph for topics that you might want us to discuss.



  1. Hello po Madam,
    Voluntary po ang contribution ko at paid up to March 2021. Nais ko po makuha yung maximum na pension at age 60. Magkano po ang dapat ko na i-contribute due to the effective increase in monthly contribution. May dapat ba ako bayaran on top sa advance payment ko. Kung meron man, can this be applied during my PRN generation online.
    Salamat po.

    Kind Regards,

    Ronaldo De Jesus

  2. Hello po Madam,
    Voluntary po ang contribution ko at paid up to March 2021. Nais ko po makuha yung maximum na pension at age 60. Magkano po ang dapat ko na i-contribute due to the effective increase in monthly contribution. May dapat ba ako bayaran on top sa advance payment ko. Kung meron man, can this be applied during my PRN generation online.
    Salamat po.

    Kind Regards,

    Ronaldo De Jesus

  3. To whom it may concern,
    Last year ,I am paying my monthly contribution 2,400 pesos .Tapos bibiglain nyo ako ng payment ko PRN na monthly ko ay 5,800 pesos .Lahat po naapektohan ng COVID.Kahit OFW po kami hirap po kami dito sa ibang bansa ,as in walang makitang bagong trabaho .Oo maganda po mag-ipon kung may permanenteng trabaho.Saan naman po kami kukuha ng monthly na 5,800 pesos?Yun ngang 2,400 /2,800 pesos na voluntary contribution eh kahirap ipunin tapos gawin nyo pang 5,800 pesos ?Kinakapos din kami dito dahil sa Covid na yan.Hindi ko nga mahulugan ang FLEXI FUND ko tapos 5,800 pesos bigla bigla na binigay nyong PRN,kaloka.Hindi porke nasa abroad marami na kaming pera ,marami po din kaming anak na pinapakain at pinag-aaral dito .Bakit bigla bigla naman yang 5,800 pesos na monthly contribution?Paano namin mababayaran sa laki nun?
    Sana mag-isip isip muna bago magtaas agad ng 3k na bigla bigla ….hindi ba pwede na hindi sumali dyan sa WISP na yan?Stress na nga kami dahil sa Pandemic dinagdagan nyo pa ng kalaking bayarin.Mas malaki pa sa monthly contribution?Para na rin akong kumuha ng lupa na hulugan for investment.Ang mahal kaya ng 5,800 pesos/monthly.Wag naman po sanang maging PRESSURE para sa aming walang magandang trabaho dito lalo na sa mga Single mom,saan po kami kukuha ng 5,800pesos na PRN na binigay nyo aa akin?Sana maaksyonan nyo po agad itong problema namin na wala namang matinong trabaho diti sa abroad.

    1. Hello Rubi, hindi po obligatoryo na bayaran mo ang maximum contribution ng sss kong di mo kaya, pwuede kang mag stay sa 20,000 pesos na dati mong binayaran noong 2020 which is 2,400 pesos monthly contribution, kaya lang ngayong 2021 ay tumaas ng 1% ang sss contribution. Ang binayaran mong 2,400 monthly contribution last year ay magiging 2,600 ngayong taon at sa 2022 tataas na naman ulit

  4. WISP is unfair, paano ung mga 19,990 below ang salary monthly(mostly mga provincial rate) hindi na sila allow magkaroon ng retirement benefits. Dapat inapply nila sa lahat ng may gusto dapat may free will ang mga sss members to choose if they want to avail that or not.

  5. To whom it may concern

    Good afternoon, voluntary member po ako paid my contribution up to march 2021, by October this year mag 60 years na po ako kailangan pa po ba na kaltasan ako sa WISP?

    Rosario Fernandez

  6. when computing Maternity Benefits, ang salary range ba na gagamitin is yong w/ Provident Fund (max of 25,000)?

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