SSS or Social Security
System is one that I did not appreciate when I was just starting as an
employee. I bet all newbies and fresh graduates who happened to get their first
job could relate to me especially if this was not explained well to them during
their orientation. I disliked it because it is one of the deductions that I see
in my payslip but never did I understand that it is also my gain, only that it
is being deposited in my fund… for my future when I can no longer work as an
employee.
So for the young
employees out there, you’re so lucky because our SSS contributions nowadays
have gone higher especially the employer’s part of contribution. So what does
that mean? It means the higher contribution you have ( both your own and your
employer’s share ), the higher retirement benefit / and other related benefit you
could get in the future. That is because most of the computations of the
benefits are based on the amount that we have invested while we were employed.
On top of that
retirement benefit, below are the other benefits which we can enjoy being a
member of the Social Security System.
1.
Sickness.
2.
Maternity
3.
Disability
4.
Death
5.
Funeral
6.
Unemployment
7.
Salary Loan
8.
Calamity Loan
9.
Educational Assistance
Loan
10.
Housing Loan
11.
Retirement
We will tackle each of
these SSS benefits in my next writing. ‘till then. Happy Easter and I am happy
to get back and relive this blog…
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