Yung hindi maganda eh yung sa SSS kasi may maximum ceiling ng salary credit that will serve as basis for your monthly pension. In case of GSIS eh walang limit na naka-set.
Kung mag-work ka sa govt as plantilla staff at may 30 to 35 years kang na contribution sa GSIS, you get a monthly pension equivalent to around 90% of the average of your last three years in govt. Kaya yung iba eh nagtatagal sa govt at kung may salary increase na naka-schedule for the year eh dine-delay nila para mas malaki ang monthly pension na makuha nila. This also explains why the likes of SC Chief Justice De Castro would want to serve as CJ even though less than a month lang sila uupo sa pwesto. Biglang taas ang monthly pension at ang lump sum retirement pay. Ang pinakamaswerte sa govt employees eh mga nag work sa GOCCs at govt financial institutions, like BSP, kasi may provident fund din sila na IN ADDITION to what they will get from GSIS.
Iba pa yung sa retirement pension ng AFP at PNP kasi they retire early–at age of 55, they dont contribute anything sa pension nila, at automatic adjustment ang pension nila everytime may salary increase yung counterparts nila na in active service.
Generous ang GSIS and since govt agency ito, there is almost zero chance na ma-bankrupt ito kasi it can always tax the public anyway.
@yoni On PERA, you can do online contribution sa BDO. I remember inquiring about it via email. Process is similar to when you invest in UITF. They will just ask for how much you want to invest, the tax number of your employer.
Bulk of my money now is invested in PAGIBIG2. They already have a online account system where you get to check your contribution records. Keep your receipts if you did voluntary contribution or ask for certificate of contribution from your employers. I still have around 20K that was not reflected sa system nila or hindi na-reconcile after I changed employers.
On setting up of retirement goal, say you need PHP 700,000 per year or 58,333 per month as retirement income, right now, you need to have 10,000,000 invested in PAGIBIG2 since it has a dividend rate of 7% tax free every year.
So if you want to have retirement income of 1.4 million per year, or around 116K per month of retirement income, then you need to have PHP 20,000,000 invested in PAGIBIG 2.
You also need to take into account yung inflation. So in 30 years time eh mababa na ang real value ng 1.4 million mo.