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Discontinuance of SSS retirement benefits...

Discontinuance of SSS retirement benefits
"I am 61 years old and retired since last year. I am now receiving my retirement benefits from the Social Security System (SSS). But I would like to know if they will discontinue my benefits if I find a new job. I am thinking of going back to work because of my grandchildren. I hope you can advise me. GranitaDear Granita, As provided for under Section 12-B of Republic Act No. 8282 or the Social Security Law of 1997, retirement benefits may be given to “a) A member who has paid at least one hundred twenty (120) monthly contributions prior to the semester of retirement and who: (1) has reached the age of sixty (60) years and is already separated from employment or has ceased to be self-employed or (2) has reached the age of sixty-five (65) years, shall be entitled for as long as he lives to the monthly pension: Provided, That he shall have the option to receive his first eighteen (18) monthly pensions in lump sum discounted at a preferential rate of interest to be determined by the SSS. x x x”In your case, you are already enjoying the benefits of R.A. No. 8282. However, the Social Security System has the authority to discontinue your retirement benefits if you will engage in a new employment since you are still below the compulsory age of sixty-five. Pursuant to Paragraph (c) of Section 12-B, id, “(c) The monthly pension shall be suspended upon the reemployment or resumption of self-employment of a retired member who is less than sixty-five (65) years old. He shall again be subject to Section Eighteen and his employer to Section Nineteen of this Act. x x x” Furthermore, the objective of granting retirement benefits is to support the retiree during his senior years, so that he or she will still have some form of financial aid without the need of being employed. While we understand your cause for desiring to be employed again, we regret to say that the SSS may validly discontinue your retirement benefits once you are engaged in a new employment because, in essence, you can no longer be considered as “retired.”We hope that we were able to answer your queries. Please be reminded that this advice is based solely on the facts you have narrated and our appreciation of the same. Our opinion may vary when other facts are changed or elaborated. Editor’s note: Dear PAO is a daily column of the Public Attorney’s Office. Questions for Chief Acosta may be sent to dearpao@manilatimes.net or via text message (key in: Times dearpao and send to 2299)."
 

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"Discontinuance of SSS retirement benefits" was written by Mary under the Legal Advice category. It has been read 227 times and generated 0 comments. The article was created on and updated on 15 September 2021.
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