A crucial initial phase toward a secure future is making plans to begin a retirement plan. The Social Security System (SSS) of the nation of the Philippines provides its residents with pension programs and social security insurance. Citizens of the Philippines who qualify will receive a P1976 Pension Increase in aid in December 2024. This payment is available to seniors who made legitimate contributions from the SSS during their working years.
Employers’ and workers’ SSS funds will be raised. Seniors 60 years of age and above who are lawful taxes and SSS contributors are eligible to apply for the SSS retirement plan. The objective of this post is to provide you with comprehensive information regarding the P1976 Pension Increase in December 2024.
SSS P1976 Pension Increase Effective December 2024
To be eligible for a pension plan offered by SSS, prospective seniors must fulfill certain conditions. The amount of each person’s SSS pension is determined by their rate of payments. The current SSS contribution rate, which covers both employers and employees, is 13%. To manage their expenses after retirement, eligible individuals would receive ₱18,495 each month, and in December 2024, the SSS has decided to provide a P1976 Pension Increase along with their regular payment.
The Social Security System has scheduled the Philippines SSS P1976 Pension Payment Date in December 2024 on their official portal i.e. sss.gov.ph. In December 2024, the SSS increased the pension Amount by 5% and provided a P1976 Pension Increase to pensioners to manage their overhead expenses. Read the post attentively and learn a bit more about the SSS P1976 Pension Increase Effective December 2024, Key Payment Dates, and Eligibility Updates.
SSS P1976 Pension Increase 2024 – Overview
| Article Name | SSS P1976 Pension Increase Effective December 2024 |
| Department | Social Security System |
| Country | Philippines |
| Increased Amount | P1976 |
| Beneficiaries’ | Pensioners |
| Payment Date | Mentioned below |
| Year | 2024 |
| Category | Financial Aid |
| Official Portal | Sss.gov.ph |
What is the Philippines SSS P1976 Pension Eligibility 2024?
To be eligible to get the increased pension amount through SSS, you must fulfill the SSS Pension Plan Eligibility criteria. those who will meet it, are qualified to receive the increased amount along with their regular pension amount. SSS will assist only those senior citizens who will fulfill the below-mentioned eligibility facts set by the Social Security System.
- Be at least sixty years old.
- You must have employment or to be self-employed.
- must have at least 120 regular contributions in SSS to be eligible for the pension plan.
- You must be an occupant of the Philippines.
- You should meet the income criteria set by the SSS.
- Claimants must have at least 5 years of working history.
Philippines SSS P1976 Pension Payment Date in December 2024
The Social Security System has scheduled the Philippines SSS P1976 Pension Payment Date in December 2024 on their official portal i.e. sss.gov.ph. Individuals will get their pension increased amount by the following dates via direct deposit or paper check.
| Batch | SS Ending Number | Payment Date |
| First Batch | 0-4 | 1 December, 2024 |
| Second Batch | 5-9 | 15 December, 2024 |
Recipients of SSS Pension Payment will get SSS increased Payment with their upcoming December payment by the mentioned dates, or if you did not get it then you can contact the Social Security System regarding the delay in your payment. delay can happen due to incomplete banking details, etc.
How to Plan Pension in the Philippines 2024?
For pensioners who wish to know how to plan their pension, now you can plan your pension plan in the Philippines according to the below-mentioned facts. Here are a few planning to plan your pension.
- SSS Retirement Plan: make sure you have a valid contribution to the social security system during your working years. This contribution will help you to qualify to get a pension amount after retirement.
- VUL Insurance: VUL (variable Universal Life) Insurance will help to grow your retirement funds. These plans include life insurance and investment components.
- Investment funds: if you have long-term savings, stocks market, mutual funds investment, and other financial funds. These additional investments will become passive income which enhances your post-retirement financial conditions.
How to calculate the SSS Pension Amount?
You can calculate your SSS Pension amount by using the SSS calculator on the Social Security System’s official website i.e. sss.gov.ph. below I have discussed the steps to calculate individual SSS pension Amounts.
- Relocate the Social Security System’s authorized portal at sss.gov.ph.
- Click on the calculator option.
- Enter your salary.
- Enter the valid contribution rate.
- Now, submit the total contribution amount you have made in past the years.
- Click on the Submit option.
- Screen will assist you with the Social Security System Pension Plan.
| Official Website | Click Here |
| Homepage | Philtranco.net |
Am I qualified for the increase in pension even though I’m retiring this Dec. 12, 2024
What about my pension will resume on January 2025. Can I receive the same benefits.