The SSS P.E.S.O. Fund (Personal Equity and Savings Option) is a voluntary provident fund offered exclusively to SSS members in addition to the regular SSS program. Through this program, members who have the capacity to contribute more are given the opportunity to save more in order to receive additional benefits in the future.
Source: Business Mirror
https://businessmirror.com.ph/enrollment-to-the-sss-peso-fund-made-easier/All employees, self- employed (SE), voluntary (VM) and OFW members who have met the following qualifications are open to apply:
The member will receive benefits upon filing a retirement, total disability or death claim under the regular SSS program. • Retirement or total disability benefits, which consist of the member’s contributions and earnings from the SSS P.E.S.O. Fund, may opt to receive this in monthly pension, lump sum or a combination of both. • Death benefits shall be paid in lump sum to the member’s beneficiaries.
The member will receive benefits upon filing a retirement, total disability or death claim under the regular SSS program. • Retirement or total disability benefits, which consist of the member’s contributions and earnings from the SSS P.E.S.O. Fund, may opt to receive this in monthly pension, lump sum or a combination of both. • Death benefits shall be paid in lump sum to the member’s beneficiaries.
No withdrawals are allowed from the retirement/total disability account. Withdrawals from the fund shall be allowed only from the Medical (25%) and General Purpose (10%) Accounts. Withdrawals within the 5-year retention period shall be charged with corresponding penalty and service fees.