Guidelines on SSS’ WISP Plus

Defined as Worker’s Investment and Savings Program Plus, WISP Plus is a recent program focusing on retirement savings investment for SSS Members. This is an optional program that is not only acts as a savings but also an investment and it is separate to the existing SSS Program. WISP Plus make SSS Members’ money generate earnings. It is also said the the program is tax-free. Upon implementation of WISP Plus, SSS PESO Fund Program and SSS Flexi-fund Program for OFWs will be replaced by this program.

Difference between WISP and WISP Plus

WISP is a MPF (Mandatory Provident Fund) for MSCs (Monthly Salary Credit) more than P20,000. WISP Plus is an optional investment program without an MSC requirement. WISP are not withdrawable anytime, WISP Plus is withdrawable anytime after 1-year membership under normal circumstance. Partial withdrawal is allowed provided that the amount is based on the total accumulated account prior to month of partial withdrawal, only once a month and not lower than P500.

However, if under extreme hardship circumstances (critical sickness, involuntary unemployment, the return of an OFW member from their host country, and other such circumstances as decided by SSS), within 1-year membership is allowed.

How to activate WISP Plus?

SSS members who are interested in joining WISP Plus can avail by doing it on their My.SSS Accounts online. After you log in your account credentials, from the SERVICES tab, click “Enroll to WISP Plus”

When the web page is done loading, click the blue text: “VIEW TERMS AND CONDITIONS”.

Once you read the Terms and Conditions, click the “I Accept” Button

The system will notify you with a message that you have successfully enrolled in the WISP Plus program and some reminders on paying the WISP Plus Program.

One application for WISP Plus is all that is required, and participation in the program is perpetual. Also, in order to be eligible for the program, individuals should not have submitted any final benefit claims for things like retirement or total disability benefits.

Viewing your WISP Contributions

To view your WISP Contributions in the future, in INQUIRY tab, select “Contributions”

Then Click the WISP Plus tab below.

SSS’ WISP Plus vs Pag-Ibig Fund’s MP2

CRITERIA	WISP Plus	MP2
SIMILARITY	Voluntary savings schemes Tax Free Offers interest rates that is higher than bank’s savings interest Do not require monthly payments (you will not be penalized nor you lose your savings when you missed a month) Offered to OFWs and non OFW Pag-ibig and SSS Members Require membership in the regular programs of the agency No limit on maximum contributions Minimum contribution is 500 pesos
Required monthly contribution for the regular program of the agency	For employed members, at least (1) posted regular SSS contribution applicable in the last 3 months For Self-employed, Voluntary and land-based OFW members, he/she must have a psoted regular SSS contribution of the current applicable month of payment or else, hey must pay both regular SSS contribution and WISP Plus for the current applicable month	For employed members, at least 100 pesos. For Self Employed, Voluntary and OFW members, at least 100 pesos.
Qualification for Opening an Acount	For existing SSS members, SSS Member’s with no final benefit claim For SSS Member’s has just registered and acquired SS Numbers through the online application, they are automatically enrolled	Contribution – must have at least one monthly savings to your regular Pag-ibig
How to pay	Register to SSS Website and Get PRN for payment	Register to Pag-ibig and get MP2 Account Number and use it when paying.
DIVIDENDS	WISP Plus is withdrawable anytime after 1-year membership under normal circumstance. Partial withdrawal is allowed provided that the amount is based on the total accumulated account prior to month of partial withdrawal, only once a month and not lower than P500. However, if under extreme hardship circumstances (critical sickness, involuntary unemployment, the return of an OFW member from their host country, and other such circumstances as decided by SSS), within 1-year membership is allowed	You can claim your total MP2 savings and dividends after 5 years. If you like, you may renew and continue savings for another 5 years.
Easily Availed Online By	Only one account	Multiple Accounts allowed