June 28, 2024 - Social Security System (SSS) President and CEO Rolando Ledesma Macasaet urged Filipinos to take advantage of the MySSS Pension Booster program, which offers a projected annual return rate of 7.2 percent.
The program is designed to help members boost their retirement savings and achieve their financial goals. It consists of mandatory and voluntary schemes:
- Mandatory Scheme: Automatically enrolls members who contribute above the P20,000 ceiling to the Regular SSS Program.
- Voluntary Scheme: Open to all members, with a minimum investment of P500. Members can contribute any amount and enjoy flexible withdrawal options.
Macasaet emphasized the benefits of starting young:
- More Time for Growth: Early participation allows for smaller, regular contributions and leverages compound interest.
- Maximized Earnings: Staying in the program for at least five years maximizes earnings potential.
The MySSS Pension Booster is open to various professions, including:
- Maritime professionals
- Overseas Filipino Workers (OFWs)
- Self-employed professionals
- Corporate executives
Previously known as the Worker's Investment and Savings Program (WISP) and WISP Plus, the program was rebranded to better cater to these target groups.
Call to Action
Macasaet encouraged Filipinos to plan and save for retirement early. He highlighted the importance of building a retirement fund to ensure financial security in later years.
For more information and to enroll in the MySSS Pension Booster program, visit https://www.sss.gov.ph/sss/appmanager/viewArticle.jsp?page=retirement.