Our SSS Pension will not be enough for our needs when we retire.
So while we can, we should increase our retirement money.

One way is to save with SSS-PESO, a new SSS savings scheme that will give an interest rate much higher than that offered by banks. These days, 360-day  banks' time deposits offer only 0.5% to 1.2% in interest rates. SSS-PESO can give dividend rates 3 times, 4 times or 5 times higher than time deposit rates.

If after 5 years of saving, we need some of what we saved, we can withdraw a portion of it, up to 35%. The rest is protected, so we have some money reserved for our retirement.

Who Can Save With SSS-PESO?
-  You're willing to save 1,000 pesos or more per month.
-  You should be an active SSS member
-  You should be younger than 55 years of age.
-  You should have paid at least 6 consecutive contributions within the last 12 months immediately prior to PESO registration
-  You should be able to pay your regular SSS contributions on the same month you save with PESO.
  . For voluntary, self-employed, and OFW members, you should be able to pay the maximum regular  monthly SSS contributions (currently 1,760 pesos).
 . For employed members, there is no minimum regular SSS contributions. This is because your monthly contribution is based on your monthly salary.

How Much Can You Save?
- Minimum monthly savings amount is 1,000 pesos
- You can save 1,000 pesos or more every month,
  in multiples of 100, such as 1,100 or 1,200 or 1,300 or 2,000
- You can save up to 100,000 pesos per year, meaning the maximum
   total savings per year is 100,000 pesos.
How to Register for the PESO Fund:

Bring your SSS ID or any other valid ID to the nearest SSS branch offering PESO enrollment.
This program was piloted at 10 SSS branches, and was later on offered at other branches. There might be smaller branches not yet offering this program.

For your first payment, bring 1,000 pesos or more.
Bring your payment receipt for the current month's regular contribution, in case it's required when it's time to pay your PESO Fund.

This is how the SSS PESO Enrollment Form looks like.

Can You Register Online?
Yes, but you still need to confirm your registration at an SSS branch.
Just login to your online SSS account, click E-SERVICES, then click P.E.S.O. Fund.

When and Where to Pay:
You can pay anytime you have money for PESO Fund. Minimum monthly payment is 1,000 pesos.
If you're OFW, Voluntary or Self-Employed, you should first pay the maximum regular monthly contribution, which is presently 1,760 pesos. Or you can pay at the same time with your PESO payment.
Remember though that regular SSS contributions have payment deadlines.

This is how the PESO Payment Form looks like.

When Can You Withdraw Your PESO Fund Savings?
You're supposed not to withdraw. This is your retirement money.

But if really needed, you can withdraw only from the Medical portion (25% of your savings) and the Education-Housing-Unemployment-Livelihoof portion (10% of your savings).
If you withdraw within the first 5 years, you will be charged with service fee and penalty.

Which SSS branches piloted the PESO Fund program?

The 10 pilot branches for this program are the following:

1.  Alabang
2.  Cubao
3.  Diliman
4.  Legarda
5.  Makati-Gil Puyat
6.  Mandaluyong
7.  Pasay-Roxas Boulevard
8.  Pasig-Shaw
9.  San Francisco Del Monte
10. Taguig

When was the PESO Fund launched?
 SSS-PESO was opened for membership applications on May 5, 2015.