One of the things that we are preparing while we are still in the peak of our lives is our future, particularly our retirement and when we finally go back to our home country for good.
There are a lot of investment that we can participate into and it is best to go with the proven ones like the SSS pension fund.
The government agency launched way back September 2014 the SSS Personal Equity and Savings Option fund or the SSS PESO fund.
What is the SSS P.E.S.O. Fund?
The SSS P.E.S.O. Fund (Personal Equity and Savings Option) is a voluntary provident fund offered exclusively to SSS members in addition to the regular SSS program. Through this program, members who have the capacity to contribute more are given the opportunity to save more in order to receive additional benefits in the future
The program provides an option for SSS members to save their excess earnings and build a secure future through:
The program is open to all employees, selfemployed (SE), voluntary (VM) and OFW members who have met the following qualifications:
Interested and qualified SSS members can enroll in the program over-the-counter at any SSS branch. Enrollment via My.SSS will be announced later.
Membership begins with the payment of the first contribution to the P.E.S.O. Fund.
Contributions to the P.E.S.O. Fund may be made anytime, whenever the member has excess funds. SE, VM and OFW members, must have regular SSS contributions based on the maximum Monthly Salary Credit (MSC) on the month of payment before they can contribute to the P.E.S.O. Fund.
Each member shall be allowed a maximum contribution of P100,000 per annum and a minimum of P1,000 per contribution.
The contributions and earnings of a member shall be allocated to three (3) types of accounts:
No withdrawals are allowed from the retirement/total disability account. Withdrawals from the fund shall be allowed only from the Medical (25%) and General Purpose (10%) Accounts. Withdrawals within the 5-year retention period shall be charged with corresponding penalty and service fees.
When can a member receive benefits from the SSS P.E.S.O. Fund?
For further information and clarification, you can contact the SSS representative Romell V. Regino at 91921723 and email address – oman@sss.gov.ph if you are always on Facebook, you can contact via their official page Social Security System – Oman
Embassy of the Philippines
Bldg. No. 1041/1043, Way No. 3015, Al Kharijiya St., Shatt Al Qurum, Muscat, Oma
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