Why you need to Contribute in SSS or social security system?

I will tell you why you need to contribute your monthly SSS - Social Security System if you are not a government employee. This is because if you are active contributor you can apply for an emergency loan which is equivalent two months salary on the bracket of your contribution amount. You can pay it up to two years or more depending on the arrangement. It is also a savings which earn more interest than time deposit or savings because it has no withholding tax which is 20% of your interest earn.

Before you could invest in other investment I think it is better to invest first in SSS because it has many features that can help you in the long run. It is a retirement money where in you can get lump sum or monthly money instead of salary since you are retired already. There is funeral money too and if in case you will die earlier than your spouse she or he will have half of your monthly pension too. Read more about SSS-Social Security System article that I posted earlier.


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