This is to inform our members and pensioners in calamity-stricken areas that SSS is ready to assist them with their immediate financial needs.
State-owned Social Security System reopens a loan facility for typhoon “Tisoy” victims totaling P614 million.
State-run Social Security System (SSS) is reopening a loan facility for members and pensioners affected by typhoon Tisoy, the agency said on Monday.
The state-owned pension fund said the calamity assistance package (CAP) has a total allocation of P614.52 million to support its members.
SSS president and CEO Aurora Ignacio said “Tisoy”-stricken members in Southern Luzon and parts of Visayas region may now apply for various loan packages including calamity, direct house repair and improvement and advanced three-month pension.
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“This is to inform our members and pensioners in calamity-stricken areas that SSS is ready to assist them with their immediate financial needs,” Ignacio said.
“Members who would like to avail of the (CAP) are required to be registered in the My.SSS application to facilitate their billing requirements in the future,” she added.
According to the pension fund, qualified applicants include SSS members and pensioners residing in areas declared as under state of calamity by the National Disaster Risk Reduction and Management Council.
“Areas under state of calamity are Batangas City; Mabitac, Laguna; Provinces of Quezon, Cavite, Oriental Mindoro, Occidental Mindoro, Marinduque; Corcuera, Romblon and San Fernando in Romblon; and Province of Northern Samar,” the SSS said.
“The CAP includes a loan assistance program which is a separate loan window from the regular salary loan. Members can borrow up to P40,000 in calamity loan depending on their average last 12 monthly salary credit,” it added.
Moreover, the agency said that qualified pensioners for three months advance of their monthly pension are qualified to avail of the loan.
Aside from the calamity loan, members with damaged properties can also avail of the direct house repair and Improvement loan with six months moratorium in amortization and interest payments. Members can borrow up to a maximum of P1 million under this program which will run for one year or until 20 December 2020.
The SSS said more than 679,000 paying members and
40,000 pensioners were affected by typhoon “Tisoy.” Thus, the pension fund allocated P601.6 million in loans and another P12.97 million for possible disbursement for the advanced three-month pension.
