There are 2 terms you should know when calculating your SSS Pension:
- CYS (Credited Years of Service)
- AMSC (Average Monthly Salary Credit)
CYS = No. of Contributions(n) / 12 (months per year) = n/12
AMSC = Total amount of your last 60 months contributions / 5.04
And the 3 Calculation Formulas:
Formula 1:
40% of the AMSC = 0.4(AMSC)
Formula 2:
300 + (2% of the AMSC multiplied by CYS ) = 300 + 0.02(CYS)(AMSC)
Formula 3:
Minimum Contribution for (10-19yrs) = 1200
Minimum Contribution for (20yrs and above) = 2400
Your monthly pension will be based on the maximum value from the 3 Formulas.
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Example:
Mrs. Rosanna had 194 months of contribution for SSS during her 1979-1995 of work.
The total amount of her last 60 contributions is 28,140.
CYS = 194 / 12 = 16.17 yrs
AMSC = 28,140 / 5.04 = 5,583.33
Formula 1: Monthly Pension = 0.4(5,583.33) = 2,233.33
Formula 2: Monthly Pension = 300 + 0.02(16.17)(5,583.33) = 2,105.65
Formula 3: Monthly Pension = 1,200
Therefore, the monthly pension of Mrs. Rosanna is Php 2,233.33
And since there is 1,000.00 additional given by the government.
https://www.sss.gov.ph/sss/appmanager/viewArticle.jsp?page=NR2018_029
Her Monthly Pension would become 2,233.33 + 1,000.00 = Php 3,233.33
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Visit SSS Online Calculator:
https://www.sss.gov.ph/sss/portlets/retirementestimator/retirementEstimator1.jsp
2021 SSS Table of Contributions:
https://www.sss.gov.ph/sss/DownloadContent?fileName=2021-CONTRIBUTION-SCHEDULE.pdf
