Relevance of Marriage Documents in the Provision of Pension

1. Relevance of Marriage Documents in the Provision of Pension Presented by: Agnes E. San JoseAssistant Vice President,RDF Program

2. 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

3. Background on Social Security System • Enacted on September 1, 1957 the Social Security Act of 1954 or the Social Security Law (SS Law)

4. 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

5. 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)

6. Benefits Granted under SSS

7. 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 dueto childbirth ormiscarriage

8. 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.

9. 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.

10. FORMULA • THE HIGHER OF: • P300 + (20% x AMSC) + • [2% x AMSC x (CYS - 10)] • 40% x AMSC • MINIMUM PENSION

11. Beneficiaries Entitled to SSS Benefits

13. Primary Beneficiaries • Legitimate dependent spouse until the person remarries .

14. Dependentlegitimate, 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

15. 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

16. Entitlement of illegitimate minor children to: • 50% of the share of the legitimate, legitimated or legally adopted children in the basic pension; and • 100% of the dependents’ pension

17. Secondary Beneficiaries • Dependent parents of the deceased member will get the benefit in the absence of primary beneficiaries

18. Designated Beneficiaries • Other person designated by the member as his/her beneficiary, in the absence of primary and secondary beneficiaries

19. Effects of Marriage Certificate in the Granting Benefits

20. Requirements for Death Claim • Death Certificate of the Deceased • Member • Marriage Certificate • Birth/Baptismal Certificate of • dependent minor children, if any

21. Requirements for Retirement Claim • Marriage Certificate, if with • children • Birth/Baptismal Certificate of • dependent minor children

22. 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

23. Dependents • Entitlement to dependents pension, the higher of 10% of the monthly pension or P250.00

24. Payment of 5 dependents beginning with the youngest and without substitution

25. Spouse • Entitlement to receive monthly pension until the person remarries or dies, if the deceased member has paid at least thirty-six monthly contributions

26. All legitimate spouse of Muslim SSS member, not exceeding four, are entitled to receive monthly pension

27. 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.

28. End of Presentation