{"id":7426,"date":"2024-06-13T09:30:31","date_gmt":"2024-06-13T09:30:31","guid":{"rendered":"https:\/\/www.aipassportphotos.com\/blog\/?p=7426"},"modified":"2024-06-12T09:32:34","modified_gmt":"2024-06-12T09:32:34","slug":"sss-unemployment-benefits","status":"publish","type":"post","link":"https:\/\/www.aipassportphotos.com\/blog\/sss-unemployment-benefits\/","title":{"rendered":"SSS Unemployment Benefits: Meaning, Requirements & How to Apply"},"content":{"rendered":"\n

During the COVID pandemic, many businesses were forced to shut down due to lockdowns and restrictions, which resulted in people losing their jobs. The good news is that the Philippine government has launched the SSS unemployment benefits since 2018. It helps unemployed citizens to survive a difficult time. Here we are going to talk about SSS unemployment benefits and how you can benefit from it. <\/p>\n\n\n\n

What is Unemployment<\/strong>?<\/strong><\/h2>\n\n\n\n

Unemployment means when someone does not have a job and is looking for a job but can not find one. It is a key measure of the health of an economy. When the unemployment rate is high, it may signal distress in the economy, whereas when the unemployment rate is low, the economy is strong.<\/p>\n\n\n

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\"Unemployment\"<\/figure><\/div>\n\n\n

Unemployment can be divided into 2 types: voluntary and involuntary unemployment. Voluntary unemployment means that a person leaves his job position willingly. On the contrary, involuntary unemployment means that a person is fired and can not maintain his current job position.<\/p>\n\n\n\n

What Is the SSS Unemployment Benefits Program?<\/strong><\/h2>\n\n\n\n

SSS stands for Social Security System. It is a system established by the government in 1957, which protects people who suffer from the financial impact of losing their jobs due to sickness, disability, maternity<\/a>, and retirement among others. It is mandatory for employees, employers and self-employers to register with the SSS. Every member has to contribute a portion of their salary to the system based on their income every month. Employers have to bear a part of the contribution of their employees according to the law.<\/p>\n\n\n\n

The SSS unemployment benefits program, also called Unemployment Insurance or Involuntary Separation Benefit, is an addition to the original SSS benefits, which provides cash assistance to members who have been involuntarily separated from their employment, including household employees and overseas Filipino workers.<\/p>\n\n\n\n

How Much Will I Get from Unemployment Benefits?<\/strong><\/h2>\n\n\n\n

If you are a qualified member of the program, you will get a cash benefit which is 50% of your average monthly salary credits (AMSC) for a maximum of 2 months.<\/p>\n\n\n\n

Please refer to the formula below:<\/p>\n\n\n\n

unemployment benefits = average monthly salary credits \u00d7 50% \u00d7 2 months<\/em><\/strong><\/p>\n\n\n\n

For example, if your AMSC is worth PHP 20,000 per month, your total amount of benefits will be:<\/p>\n\n\n\n

20,000 \u00d7 50% \u00d7 2 = PHP 20,000<\/p>\n\n\n\n

To find out your AMSC, you can use the below 2 ways to calculate:<\/p>\n\n\n\n

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  1. AMSC amount = the sum of your last 60 monthly salary credits (MSC) \u00f7 60<\/li>\n\n\n\n
  2. AMSC amount = the sum of all MSC \u00f7 the number of the monthly contribution paid<\/li>\n<\/ol>\n\n\n\n

    Both the MSC and monthly contribution calculated should be before the semester of contingency.<\/p>\n\n\n\n

    Application for unemployment benefits should be done within a year from the date you leave your previous job. For example, if you left your job on January 1st, 2024, you have to apply for your unemployment benefits before the date of January 1st, 2025 to claim the money.<\/p>\n\n\n\n

    Who Is Eligible for SSS Unemployment Benefits?<\/strong><\/h2>\n\n\n\n

    The criteria for SSS unemployment benefits are similar to other SSS benefits. You are eligible for the SSS unemployment benefits if you meet the following qualification requirements:<\/p>\n\n\n\n