KIDAPAWAN CITY, Cotabato Province (PIA) — The Social Security System (SSS) has encouraged members to increase their retirement funds by taking advantage of the MySSS Pension Booster program.
Launched recently, the program was originally known as the Worker’s Investment and Savings Program (WISP) and Wisp Plus.
“Itong Pension Booster, ito ‘yong programa na hindi na maglilimit sa isang member kung magkano ang gusto niyang dagdag sa kanyang pension pagdating ng araw,” said Noel Nacion, regional communications officer of the SSS Mindanao South 2 Division.
(This Pension Booster is the program that will no longer limit a member to how much he wants to add to his pension when the day comes.)
The program offers an annual interest rate of 7.2 percent, according to Nacion during the recent Talakayang Dose radio program of the Philippine Information Agency in Soccsksargen.
“Itong Pension Booster, sa pangalan pa lang, sinasabi sa members natin, pampaboost o pampalakas ito ng pension mo. Also, pinalakas ‘yong interest nagiging 7.2,” he stated.
(By its name alone, the pension booster will help reinforce a member’s pension with only a 7.2 percent interest rate.)
MySSS Pension Booster provides members with two retirement savings schemes: the mandatory and the voluntary, offering “a secure, tax-free, and affordable” savings scheme.
The mandatory scheme automatically enrolls members earning more than P20,000 per month, with a P500 monthly deduction.
Meanwhile, under the voluntary scheme, members who earn below P20,000 a month can avail of the program, but they are required to enroll in the savings plan.
“Ang importante lang is updated ‘yong paghuhulog mo sa regular program ng SSS,” he said.
(The only thing that matters is that you update your payments through the SSS Regular program.)
Furthermore, those who participate in the mandatory scheme can also benefit from the voluntary scheme, according to Nacion.
Mardy Tupas, an SSS member from M’lang, Cotabato, said the program is a big help, especially for members who are self-employed.
“Maganda ang programang ito dahil natutulungan ang mga miyembro na mapalakas ang kanilang financial capacity sa mga susunod na panahon at mas maeenjoy ang perang pinaghirapan,” she conveyed.
(This program is beneficial because it helps members increase their future financial capacity and enjoy their hard-earned money.)
Tupas said that she and her husband are planning to enroll in the SSS voluntary program.
Nacion said that individuals who wish to avail of the program, particularly under the voluntary scheme, can apply online through the agency’s “MySSS” account or visit the nearest SSS office in their area. (SJDM – PIA Region 12)
