Latest DAEM News
Jun 22, 2021
Every working Filipino’s dream is to retire and relax after 20 to 30 years of demanding work. Those who have reached the peak of their careers and are already financially stable often find themselves talking about retirement. The children have all grown up and finished with their studies. Others are already enjoying time playing with grandchildren and telling them stories of places and events before the pandemic. There is a misconception that filing for SSS retirement benefit is a tedious process, particularly now with the current limitations brought about by the health precautionary measures imposed by the government, and the lengthy period of waiting resulting from alternative work arrangements of government offices. Thank goodness for technological advancements. We can now spend quality time with family and the people we love while transacting with SSS at the comfort of our own homes or offices. Now, filing for retirement has never been easier. Since July 2020, SSS expanded its implementation of the online retirement benefit claim application for its members and made it mandatory, in line with the institution’s efforts on the digitalization of all benefits and loan processes. How does one go about applying for SSS retirement benefits online? The online retirement application covers all SSS employee-members who are at least 60 to 64 years old and are separated from employment, except for racehorse jockeys and underground/surface mineworkers. All land-based overseas Filipino workers and voluntary members are also covered as long as they are 60 years old upon the date of submission of the Retirement Claim Application as well as those who are at least 65 years old upon the date of online filing of their claim. To qualify for the online retirement application, one must meet the following conditions: Has at least 120 contributions prior to the semester of the month of submission of the RCA (or the month of contingency) for monthly pension, and at least one contribution for lump sum benefit; Has an active SS Number; Has no outstanding Stock Investment Loan Program (SILP)/Privatization Loan Program/Vocational Technology loan balance. Has no dependent child/children; Not a self-employed member below 65 years old. Filing for retirement claim online is as easy as 1, 2, 3 by following these steps: 1. Register to the My.SSS Member Portal ( https://member.sss.gov.ph ) and then log in to enroll your disbursement accounts/s in the Disbursement Account Enrollment Module (DAEM) under the E-services menu of the web portal. 2. Once you have approved DAEM-enrolled account/s, file your retirement claim online also under the E-services menu of the My.SSS portal. 3. Once claim is approved, receive your retirement benefit through your preferred disbursement account in DAEM and reap the rewards of your hard-earned SSS retirement benefit that you saved throughout your career. I am encouraging all soon-to-be retirees to file their SSS retirement applications online. From January to April 2021, there are already 23,040 members who filed their claims using this system. This is our way of serving our members through our brand campaign, ExpreSSS—mas pinadali, mas pinasimple at mas pinabilis. Happy workweek to all! Aurora C. Ignacio is SSS president and chief executive officer. We welcome your questions and insights on the topics that we discuss. E-mail [email protected] for topics that you might want us to discuss.