SSS Workers’ Investment and Savings Programs (WISP)
- Monthly contributions go up from P15 to P100.
- Based from Social Security Act of 2018.
- Contributions will increase again in 2023 and 2025.
- 30% or one-third of your contributions goes to the WISP.
- A mandated provident fund with a main objective to preserve the principal (plus beat the inflation at the minimum rate).
- 75% will go to government bonds and 10-20% will go to blue-chip corporations
- Earnings are estimated to earn 4.5% ROI. Pag-ibig MP2 is still better. But tax free.
- Contributions and earnings in WISP can only be withdrawn only upon retirement (60 years old), retirement, total disability, or death. Long-term investment. Similar to PERA.
- You could receive the pensionin lump sum or in fixed monthly amounts until the AV is settled covering at least 15 years.
- WISP benefeciaries are same with SSS beneficiaries.
- The reitirement and pension benefits from SSS will NEVER be enough for your retirement. You must invest on your own.
- You need to use other investment vehicles that could yield more.