What Do You Need To Know About Workers' Investment & Savings Program (WISP) Plus?

​The SSS has launched a new variant of its voluntary retirement savings scheme, known as the Worker’s Investment and Savings Program Plus (WISP Plus).

What is the Workers’ Investment and Savings Program (WISP) Plus?

The WISP Plus is a voluntary provident fund that offers all types of SSS Members a safe, competitive, convenient and tax-free savings scheme, so they can earn more compared to regular savings or time-deposits and receive  additional benefits during retirement.

What are the salient features of the WISP Plus?

• Open to all SSS members regardless of MSC level for as low as PhP 500 per payment.
• Contributions and earnings may be withdrawn either partial or in full after 1 year of membership
• Continuous crediting of interest earnings even after the 5-year maturity.
• Tax-free earnings that compound annually.

Who are eligible to enroll in the WISP Plus?

Enrollment is open to all SSS Members with at least one (1) posted contribution and without final claim under the regular SSS program. SSS Registrants may also conveniently enroll upon securing their SS number.

How do I enroll in the WISP Plus?

For SSS Members, through the My.SSS portal and for SSS Registrants, through the SSS website upon approval of application for SS number.

Is there a minimum and maximum amount of contribution in the WISP Plus?

The minimum WISP Plus contribution is Php500 per transaction. There is no maximum amount of contribution. However, contribution payments shall be subject to the guidelines of each SSS payment channel in terms of maximum amount per payment, manner of payment (e.g., manager's check), daily limits and others.

Where can I pay my WISP Plus contributions?

You can pay your WISP Plus contributions through the following payment channels:

• SSS Tellering Branches
• Accredited Collecting Partners

How often should I pay for my WISP Plus contributions?

Contributions to the WISP Plus is voluntary and may be made any time. Thus, it allows for flexibility, permitting you to effectively manage your budget.

How much will my WISP Plus contributions earn?

The SSS prioritizes capital preservation, hence, our investment mix consists of government securities, corporate or multilateral institutions and equities, short and medium-term loans, money market and other BSP-approved investment instruments, and loans to pensioners. Interest earnings are benchmarked against the average rates of Treasury Bills or any other acceptable market yield indicator.

Where can I monitor my WISP Plus contributions and earnings?

You can check your contributions and earnings online through your My.SSS account.

When can I withdraw my WISP Plus?

Withdrawals may only be made after the 1-year holding period with a reduced income. If done after the 5-year maturity, interest income will be received in full.

Withdrawal within the 1st year of membership may be made under extreme hardships as follows:

• Critical Illness of the member.
• Involuntary separation from employment.
• Repatriation of OFW member from host country.
• Other analogous conditions as may be determined by the SSS.

Who will receive the proceeds of the WISP Plus account in case of member’s death?

In case of member’s death, the proceeds will be disbursed automatically to the beneficiary/ies under the regular SSS program. The beneficiary/ies must only have an approved disbursement account enrolled through their My.SSS account.

Where can I get additional information about the WISP Plus?

For additional information, you may visit the LAWS & CIRCULARS Section of the SSS website (www.sss.gov.ph) or you may call (632) 8920-6446 to 55 or check SSS official social media pages:

Facebook: SSSPh
Twitter: PHLSSS
Instagram: MYSSSPH
Youtube: MYSSSPH
Viber: MYSSSPH Updates

Is the current WISP different from WISP Plus?

​WISP Plus would cater to all SSS members, regardless of their membership type, declared monthly earnings, and last posted monthly salary credit (MSC).

The current WISP is another provident fund program which is compulsory for SSS members who are contributing to the regular program under the MSC that exceeds P20,000. It was mandatorily implemented in January 2021 as part of the amendment in the SS Law last 2018.

To know more about WISP, you can read my blog entry: ​What You Should Know About The SSS WISP?