The "WISP" deduction on your payslip represents contributions to the Workers’ Investment and Savings Program, a mandatory provident fund scheme established under Republic Act No. 11199, the Social Security Act of 2018.
This program is designed to serve as an additional retirement savings plan for SSS members, supplementing the regular SSS benefits.
Who Is Covered by WISP?
WISP applies to SSS members who:
Are private-sector employees, self-employed individuals, overseas Filipino workers (OFWs), or voluntary members.
Have no final claim under the regular SSS program (such as retirement, total disability, or death benefits).
Have a Monthly Salary Credit (MSC) exceeding ₱20,000.
For these members, contributions to WISP are automatically deducted along with regular SSS contributions. The funds are pooled and invested, with earnings distributed proportionally among contributors.
Clarification on Payslip Deductions
If you notice a deduction labeled "WISP" on your payslip, it corresponds to your mandatory contribution under the Workers’ Investment and Savings Program. This is separate from the regular SSS contributions and is intended to enhance your retirement savings.
For members with an MSC exceeding ₱20,000, the WISP deduction is mandatory. If your MSC is below this threshold, you may not see a WISP deduction unless you voluntarily opt into the program.
Verifying Your Contributions
To verify your WISP contributions, you can log in to your My.SSS account. Under the "Inquiry" tab, select "Contributions" to view a breakdown of your regular SSS and WISP contributions.
Find more information here: Workers’ Investment & Savings Program (WISP) | Republic of the Philippines Social Security System