Last April 2019, the Social Security System released the new SSS Contributions Table and Payment Schedule. Check this new contribution table below: In the table above, note the following: Range of Compensation – where your salary falls Monthly Salary Credit (MSC) – you can see that in the second column of the SSS table. It…
Category Archives: Retirement
No Spouse, No Kids. How to Grow old Alone?
Thirty years ago, Nick, a free spirited corporate employee. Rose from his ranks from being a low profile worker to a high profile boss. Thanks to his a lot of free time to do unlimited over times and even extending on weekends for work. That’s how he likes it. No spouse, no kids. Freedom. Important…
Retirement: Life After Medical Practice
Retirement : Life After Medical Practice December 2015, I was invited by Dr. Agnes Manalo to talk to Ilocos Medical Society for their postgraduate course for March 13, 2016. The topic was about Retirement, and I believe it is one of my favorite subjects in finance. I said yes. Knowing that I will be talking…
How to Compute Company Retirement: What No One Tells You About
So, you decided to stay loyal to your company until retirement? Ever wonder how much will you get from your company once you retire? According to RA 7641 the Philippines has an existing law that requires the payment of a minimum retirement benefit, which is equivalent to a little more than 70% of monthly…
Help! I’m in my 50’s, Nearing Retirement How long until I can retire?
50 is a milestone in anyone’s life. Turning 50 tends to be a wake-up call for many pre-retirees. And with roughly a decade or so until retirement, it is important to understand the effect of timing on an investment plan. I received quite a number of emails telling me the same thing: “I’m…
SSS Retirement Benefits, Updated 2014 Is it enough for your Retirement Needs? Find Out now!
As I always say, if you are working and you if you still don’t have a Retirement Plan right now, then your CHILDREN becomes your RETIREMENT PLAN. Mean? Yes! But true. Statistically speaking, only 2 out of 100 Filipinos plan for retirement. Although most Filipino workers have some kind of benefits like SSS or GSIS…
How much should you be saving for Retirement? Do you have what it takes to retire comfortably?
How do you envision your retirement years? Have you thought about it yet? If you ask me, how much do you have to save to have a healthy retirement ahead? Financial analysts, suggest a minimum of 20% of your salary from DAY 1 you started working. But what if, you tell me, “I cannot afford…
The Filipino Retirement Scenario, Find Out Where will you Belong in the Future
If you are thinking you are far from retiring and you still don’t need to read this. Before clicking the back button, please spare me a few more minutes of your time, and consider just glancing this survey first. This study was done by SSS last 2010 which depicts the destiny of our fellow Filipinos…
