One of the things in my bucket list for 2012 is to reactivate my SSS membership which I discontinued since I resigned from the last company that I've worked with in the Philippines. I resigned 2nd quarter of 2007 and decided to try my luck as an OFW. I did not intentionally want to discontinue my membership. It's just that I was too busy and preoccupied at that time and this thing had slipped off my mind. It was only late last year that I finally gained back my interest in reactivating my account with SSS but still, I was only able to start this year (lol). Anyway, better late than never. Since I belong to the maximum bracket of SSS contribution already from my previous employer and upon checking the contributions required for OFW's, I've seen that I just have to continue the same amount of my previous contribution from my last company. The only difference is that last time, my company pays for the other 50% of the monthly contribution. Now, as an OFW, I will still be paying the same amount of contribution (Php1,560/month) but I will pay 100% of it.
Anyway, when I paid for my first contribution as an OFW last March, the SSS personnel at the Information counter advised me to just stick with this amount so I could get higher benefits during my retirement. She said, if I will lower my contribution compared to my last contribution from my employment in the Philippines, then the amount of my monthly SSS pension after my retirement will be affected. So, I decided to just stick with my previous bracket which is the same bracket for OFW's. After all, I will be the one benefiting from this after my retirement. I'm just thinking that with the amount of my monthly contribution, I will surely be receiving a higher monthly pension which should be a reasonable amount to sustain my daily needs. Anyhow, my husband is also paying for his SSS, so each of us would be having our own monthly pension after retirement. That combined with some assets and monthly rental of a house should be more than enough to live by.
I am a very practical person. I always think ahead. I always want to prepare for the future. I don't want to rely on someone else for my living. It's not that I am materialistic, I just want to enjoy my life without worries and hassles. Anyway I was gifted with a skill that I could use to work and earn, so I just want to make the most of it while I still can.
Anyway, SSS is also offering a condonation program for those who still have unsettled loans and filing of applications will be until September 2012. You can visit SSS website for more details.