Why You Need To Pay For Your Social Security or Pag-big

If you are working on a contract and your employer does not pay for your social security and suggest that you have to pay it for yourself, then do so. You can pay for your social security voluntarily, every month or in advance, either through a certified bank, SSS service centre or SSS itself.

It is important to pay for your social security, for you to have some savings stashed in your social security account, which will allow you to borrow money, in case you need to make a loan due to natural calamities or acts of God. If these calamities have affected you, or if you got afflicted with some form of illness, paying for your social security monthly, or in advance (like annually), can help you have some money for these events, help pay for hospitalization or have money for medication. Social Security can also give you pensions once you retire. 

Calamity loans, hospitalization or sickness benefits, burial benefits are some of the benefits you can get from paying your social security. Having social security is important to help you in case you experience these things in your life.

Pag-ibig is also known as the Home Development Mutual Fund helps you borrow money for home renovation, and building a new home among others. If you pay for your contribution regularly, it can also give you dividends when you retire, like savings in a bank. Once you retire, you can get your dividends, savings or whatever your savings have earned. 

You may also save your money in the bank and earn interest, depending on what the interests rates of the bank have.  Saving some money in the bank, helps you have some funds that can easily be accessed when you need them. You can either, put your money through a savings passbook account, ATM account, time deposit account, UITF and several other products that some banks are offering. It is important to study which bank product is best for your money to make them earn more or something that serves well for your financial future and the benefit of your beneficiaries.

For more information, you may go to SSS online website: https://www.sss.gov.ph/

Have a lovely day or night.