So someone I knew is possibly migrating soon and was curious if monthly contributions from SSS could be withdrawn to help finance the plans.
This is what I learned today based on questions asked and corresponding feedbacks from Social Security System (SSS) people.
QUESTION:
How many contributions must I give to be assured of pension. 120 monthly contributions?
What if I will move to another country and is no longer a Filipino citizen. Can I still claim benefits?
If not, can I cancel my membership and withdraw my contributions?
Answer:
Greetings:
May we inform you that SSS membership is for life, regardless of citizenship your contribution will entitle you to the benefits and privileges of the system as long as you satisfy the qualifying conditions. Refund of contribution is not allowed.
Please be informed that a member who is 60 years old, separated from employment or ceased to be self-employed or 65 years old whether employed or not and has paid at least 120 monthly contributions prior to the semester of retirement may qualify for retirement pension while the lump sum benefit is granted to a member who has not paid the required 120 monthly contributions.
For further queries you may call our Telephone Assistance at 920-64-46 to 55.
Thank you.
I think if you become a citizen of another country its not worth it investing in SSS as the country you might be residing gives a better alternatives