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SSS Peso Fund

palailai · 7 · 10676

palailai

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ISSS unveils provident fund program for members

ABS-CBNnews.com
Posted at 09/25/2014 4:50 PM | Updated as of 09/25/2014 4:51 PM
MANILA -- The Social Security System (SSS) has opened a voluntary provident fund program that offers its members an additional way of saving for their retirement.

The SSS Personal Equity and Saving Option (SSS PESO) fund, a new retirement savings scheme, is an alternative and tax-free investment that would help members accumulate adequate income in retirement and earn a reasonable rate of return.

"SSS PESO savings can be used to supplement the benefits available under the regular SSS program. It offers guaranteed earnings based on rates higher than those at brick-and-mortar banks," said SSS President and Chief Executive Officer Emilio S. de Quiros, Jr.

The SSS PESO fund is open to all members below the age of 55, with six consecutive SSS contributions within the last 12 months prior to enrollment, and have not yet filed final claims with the SSS.

Qualified members can participate for a minimum contribution of P1,000 up to a maximum of P100,000 per year.

"One's membership will start upon receipt of first contribution. Succeeding SSS PESO Fund contributions can be made anytime as long as there is a corresponding SSS contribution on the month of contribution," De Quiros added.

De Quiros added that self-employed, voluntary and OFW members are qualified for the program, provided they pay the maximum SSS contribution.

Savings in the SSS PESO fund are invested in sovereign-guaranteed investments, where 65 percent of the total fund is allocated for retirement, and 35 percent is for medical and general purposes.

SSS PESO accounts will be charged a 1 percent administration fee annually.

"The portion for retirement is guaranteed to earn income based on interest rates of five-year Treasury yields, while earnings of the fund allotted for medical and general purposes will be based on 364-day Treasury bill rates," De Quiros said.

Aside from the guaranteed earnings, De Quiros said SSS PESO Fund members may also get excess earnings, which will be credited automatically to their accounts, depending on the actual year-end performance of the SSS PESO Fund.

Savings in SSS PESO fund can be withdrawn upon the member’s effective date of retirement or total disability with the SSS either in monthly pensions over a minimum period of 12 months and P1,000 payment per month, in lump sum, or combination of both.

☻☻☻Is this a good investment for retirement? I'd like to know your analysis/opinion...


francesdeniel

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mxherr5

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Savings in SSS PESO fund can be withdrawn upon the member’s effective date of retirement or total disability with the SSS either in monthly pensions over a minimum period of 12 months and P1,000 payment per month, in lump sum, or combination of both.

Awww napaka haba ng lock in period para sa guaranteed rate.
I wonder how much they expect the extra dividend rate to be?

Kung ang total ay more than 10% then I'd like at this more pero kung bihira or maliit lng ang extra then wag na lang.


freelancer_babe

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How does one fund an SSS Peso fund. I hope going to an SSS branch is not the only option to contribute for this?

I have activated mine but could not see any writeup to fund this.


angeljme

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^--- all excess contribution would be for Peso Fund.  Same lang ng monthly contribution ang pagbabayad.


sysonpyh

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10k per year for 30yrs good na sa akin...cguro ang rate nito is 3-9% per anum if gov securities..


freelancer_babe

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^--- all excess contribution would be for Peso Fund.  Same lang ng monthly contribution ang pagbabayad.

So ibig sabihin, ipapa-arrange ko sa employer na magbayad ako ng excess? Automatic pupunta ba yun sa Peso Fund?

Tama kaya ang intindi ko?


 


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