There have been a lot of agencies who offer securities among workers or individuals upon reaching their retirement age of 60. One of these is the Social Security System, when you get 18 years of age, you can be a member of SSS and enjoy its social security benefits like sickness, maternity, burial and salary loan. These are based on the monthly contribution you pay for SSS. If you are employed, the company shares specific amount according to your salary bracket, then the maximum amount deducted from employee to date is Php500.oo. So if your salary is high enough and you contribute the maximum SSS contribution, expect a high benefit in future.
I had three salary loans already, just an advice, if you haven’t loaned from SSS yet, loan now, otherwise, unknown people might use your SSS account to get their loan, it happens to my officemate who worked from Cebu Pacific, he never had a salary loan but when he registered online, he saw three loans on his account, recorded under Cebu Pacific. Fortunately, all those were settled, what if not? Then my officemate will pay for an amount he never borrowed. Ruthless people who used others for their benefit 🙁 I advice you to get a salary loan after a 24 consecutive months contribution, if you don’t want to spend, then save it in a bank, rather than allow anyone use your SSS account.