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Policy No. FLEXING WITHDRAWAL Policy owner Insured Amount of withdrawal I×We, the undersigned owner’s and×or irrevocable beneficiary×IES×assignee of the above policy would like to withdraw the
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How to fill out flexi-fund withdrawal
How to fill out flexi-fund withdrawal:
01
Obtain the necessary forms: Visit the nearest Social Security System (SSS) branch and ask for the flexi-fund withdrawal forms. These forms may also be available for download on the SSS website.
02
Fill out personal information: Provide your full name, SSS number, contact details, and other relevant information as requested on the forms.
03
Indicate the reason for withdrawal: Choose the appropriate reason for your flexi-fund withdrawal. This can include retirement, disability, death/inheritance, or exceptional circumstances.
04
Provide supporting documents: Depending on the reason for withdrawal, you may need to submit additional documents such as your birth certificate, medical records, or proof of death for the deceased member.
05
Determine withdrawal option: Decide whether you want to receive the flexi-fund withdrawal as a lump sum or as a monthly pension. The choice may vary based on your eligibility and preference.
06
Review and submit: Make sure all the information provided is accurate and complete. Double-check the forms and attach the necessary documents. Submit the filled-out forms to the designated SSS officer.
07
Wait for processing: The withdrawal request will undergo verification and processing by the SSS. It may take some time before the funds are released, so be patient during this period.
08
Follow-up and receive funds: If your withdrawal request is approved, you will be notified by the SSS. Follow their instructions on how to claim the funds, whether through bank deposit, check issuance, or other methods specified.
09
Keep a record: Make copies of all the forms, supporting documents, and any correspondence with the SSS. These records will be helpful for future reference or if any issues arise.
Who needs flexi-fund withdrawal?
01
Overseas Filipino workers (OFWs): Flexi-fund withdrawal is beneficial for OFWs as a retirement or savings option, providing them with a separate fund to supplement their regular SSS pension.
02
SSS members planning for retirement: Flexi-fund withdrawal can be utilized by regular SSS members who want to maximize their retirement savings and receive higher returns compared to the regular SSS program.
03
SSS members facing unexpected financial challenges: Individuals in need of funds due to disability, medical emergencies, or other exceptional circumstances may opt for flexi-fund withdrawal to access their savings and address their immediate needs.
04
Beneficiaries of deceased SSS members: Flexi-fund withdrawal allows the beneficiaries of deceased SSS members to claim the accumulated funds and provide financial support to the surviving family members.
Note: It is always advisable to consult with the SSS directly or visit their website for the most accurate and up-to-date information regarding flexi-fund withdrawal procedures and eligibility requirements.
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What is flexi-fund withdrawal?
Flexi-fund withdrawal refers to the option for members of a retirement fund to withdraw a portion of their savings before retirement age.
Who is required to file flexi-fund withdrawal?
Members who meet the eligibility criteria set by the retirement fund are required to file for flexi-fund withdrawal.
How to fill out flexi-fund withdrawal?
To fill out flexi-fund withdrawal, members need to complete the withdrawal form provided by the retirement fund and submit it along with any required documentation.
What is the purpose of flexi-fund withdrawal?
The purpose of flexi-fund withdrawal is to provide members with the flexibility to access a portion of their retirement savings when needed.
What information must be reported on flexi-fund withdrawal?
Members must report their personal details, the amount they wish to withdraw, and the reason for the withdrawal on the flexi-fund withdrawal form.
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