Investing or saving your hard-earned money is a smart decision that you can benefit for your retirement. Even saving a little amount will add up into big amount that can be of great help when you’re unable to work anymore.
The SSS PESO Fund or the SSS Personal Equity and Savings Option Fund is an ideal investment vehicle that you can consider.
What is SSS PESO Fund?
Are you a member of SSS? Are you familiar with the SSS PESO Fund? It is a provident fund offered by the agency to all members who have paid regular contributions for 6 consecutive months within a year. The member must be 55 years old and have not filed for any claims prior to the enrollment for SSS PESO Fund.
Read also: How to Avail the ASENSO Loan Program of SSS
Qualified enrollees are those self-employed or voluntary members, and OFWs. The applicant must be paying the amount mandated by the regular SSS program.
The good thing about this program is that the contributions are invested in an independent guaranteed instruments and is tax free. The interest rates are higher than other regular financial institutions. Sixty-five percent of the total fund is allotted for the retirement of the member and the thirty-five percent is allotted for general and medical purposes.
The percentage allotted for the retirement will earn an income generated from the 5-year Treasury yields. On the other hand, the 35% allotment will earn income from the 364-day Treasury bill rates. Another advantage of saving in SSS PESO Fund is that the member can also obtain additional earnings based from the actual performance of the fund.
A member can withdraw the savings from the fund upon his or her retirement or in case of disability. It can be withdrawn either in the form of monthly pensions or Php1,000 payments ever month, or combination of the two.
SSS Peso Fund Is a good investment?
Considering the interest rates per annum, if you’ll start at an early age you can earn huge amount during the time that you retire. This is a good option where you can put your money without worrying the risks associated to investment.
If you’re interested to invest in SSS PESO Fund, all you have to do is to visit the nearest SSS office or log in to the SSS official website.