SSS-eligible retired workers receive pension payments from banks that have been authorized. Making sure the bank you select is accredited is crucial to a seamless and trouble-free pension payout. This guide will help you determine which banks have been granted permission by the SSS to manage your pension benefits, ensuring that your hard-earned retirement savings are distributed to you securely and effectively.
List Of Authorized Banks for SSS Pensioners
Filipino Social Security System (SSS) retirees must be aware of the banks that have been granted permission to handle their pension transactions. Secure and easy services for handling your SSS pension are provided by authorized banks. The following list of banks has been approved for SSS pensioners, so you may be sure you have access to trustworthy financial companies for your pension requirements:
| Category | Collecting Agents |
| BancNet, Inc. | Asia United Bank Corp. Bank of Commerce BDO Unibank, Inc. China Banking Group Citibank N.A. Philippine Branch CTBC Bank (Philippines) Corp. Deutsche Bank AG- Manila Branch East West Banking Group Metropolitan Bank and Trust Company MUFG Bank, Ltd. Philippine Bank of Communications Philippine National Bank Philippine Trust Company Philippine Veterans Bank Rizal Commercial Banking Corp. Robinsons Bank Corp. Standard Chartered Bank Sterling Bank of Asia, Inc. (Saving Bank) |
| Over-the-Counter | Asia United Bank Corp. Bank of Commerce Bank One Savings Corp. CIS Bayad Center, Inc. East West Rural Bank Electronic Commerce Payments, Inc. Gateway Rural Bank, Inc. Partner Rural Bank (Cotabato), Inc. Philippine Business Bank, Inc. (Saving Bank) Philippine National Bank Pinoy Express Hatid Padala Services Rang-Ay Bank, Inc. (Rural Bank) Rizal Commercial Banking Corp. Robinsons Bank Corp. Rural Bank of Hindang, (Leyte), Inc. Rural Banl of Lanuza (Surigao del Sur), Inc. SM Mart, Inc.Union Bank of the Philippines Ventaja International Corp |
| Collecting Agent’s Website | AltPayNet Corp. Bank of the Philippine Islands CIS Bayad Center, Inc Land Bank of the Philippines Robinsons Bank Corp Security Bank Corp Union Bank of the Philippines |
| Collecting Agent’s Mobile App | AltPayNet Corp. CIS Bayad Center, Inc. Robinsons Bank Corp Security Bank Corp Union Bank of the Philippines |
| SSS Website | AltPayNet Corp. |
| SSS Mobile App | Bank of the Philippine Islands Maya Philippines, Inc. |
FAQs
Why is using a bank that has been authorized necessary for my SSS retirement benefits?
You may be sure that your pension payments will be paid out on schedule and securely by using an accredited bank. The SSS has examined these banks, making them trustworthy and secure options for disbursing pensions.
What documentation is required to open an account with a bank that has been authorized?
You normally need to present proof of SSS membership, proper identity such as Government ID, and any additional documentation that the particular bank may require, including proof of address, to open an account with them.
After choosing a bank for my SSS pension, is it possible for me to switch?
Yes, you can switch banks as long as you notify the SSS and fill out the required paperwork to update your bank information. Providing identity and other supporting documentation can be necessary for this.
How frequently do I receive pension payments in my account?
Monthly pension payouts are the norm. Based on the SSS disbursement cycle and the financial institution’s processing schedule, the precise date may change.
If my pension is not transferred on schedule, what should I do?
First, get in touch with your bank to inquire about any procedural delays if your pension is not deposited on schedule. Please get in touch with the SSS for support and additional research if the problem continues.
Does getting my pension from an approved bank come with a cost?
Pension payouts are often paid out without incurring fees at the majority of permitted banks. It is wise to check with your bank to see if there are any particular costs or charges related to your account, though.
What occurs if the bank I have authorized closes or is acquired by another bank?
The SSS will offer assistance with moving your account to another approved bank if your authorized bank closes or combines with another bank. You may be required to change your contact information with the SSS.
Should I notify the SSS if my contact details change?
Yes, to guarantee that you receive all alerts, it’s crucial to update your contact details with the SSS and your bank.
What happens if my pension is transferred into an old account because I neglected to change my bank account details?
To fix the problem and update your bank data, get in touch with the SSS right away.
Can I get my pension paid out in cash straight away?
No, to maintain security and ease, pension payments are often made directly into financial accounts.