How to Check your Estimated SSS Pension based on your Contribution and Age?

Did you know that SSS has a pension calculator on their website? If you are curious of what will be your pension in the future, this article is for you.

Here are the steps on how to check your estimated SSS Pension:

Go to www.sss.gov.ph or click this link. No need to log-in to you account to check your estimated pension. Access the pension calculator by scrolling down the sss home page and on the white background with images, click the third from the left with“PENSION CALCULATOR”.

It will open a new tab. There are 2 drop down buttons. One is to select your “Monthly SSS Contributions or Monthly Salary”. The minimum that you can select is “P560 contribution => P4,000 salary and the maximum is “P2,800 contribution => P20,000 salary”. Note that the option below pertains to the current choices as of this writing. The other one is to select the “Age when you start contributing to SSS”. It ranges from 15-59 years old. There are two buttons below. One is calculate button and other one is the reset button.

For example, you selected “P560 contribution => P4,000 salary” and selected 20 years old when you start contributing to SSS. After clicking the “calculate” button, as per the pension calculator, the estimated monthly pension will be P4,500 per month. Total contributions paid is the contributions you paid from the age of 20 to 60 years old. Therefore the total count of contributions is 480 months = 40 years x 12 months. Multiply that to 560 pesos and the total will be P268,800.

The total pension you will received after 10 years is P585,000 because 10 years multiplied by 13 months (12 months + 1 month bonus) will be 130. If you receive 4,500 as your monthly pension, multiply it to 130 and the result will be P585,000. Based on this calculation, you will immediately know that the total amount of pension received after 10 years is way greater than the amount of your contribution. On this example it has a difference of P317,000. Because of this, the difference is much greater after 20 years.

When you Click “Click here for more detailed information”, you will see the details of your contribution with the following assumptions:

• Contribution rate remains at 14%
• Has no gap from the start of contribution to end
• Monthly Salary Credit remains the same
• 13 month pension amount is included in the Total Amount of Pension Benefit
• Minimum of contributions should be 120 for qualification of pension

They have noted below that the “Estimated monthly pension is merely indicative, actual pension will depend on actual pattern and amount of contributions.”. Therefore this is only an estimate of your pension and not the actual pension itself to give you an idea of how much your pension based on your contribution and age.