Typhoon-hit SSS pensioners urged: Avail advance pensions
‘We encourage our calamity-affected pensioners to take advantage of these programs to ease their financial burden during this challenging time.’
The Social Security System (SSS) is extending financial assistance to pensioners affected by the recent string of typhoons that battered Luzon.
Pensioners residing in areas declared under a state of calamity by the National Disaster Risk Reduction and Management Council (NDRRMC) can apply for a three-month advance pension until 21 December 2024.
“We understand the hardships faced by our pensioners, especially those who were directly impacted by the typhoons,” said SSS Officer-in-Charge Voltaire P. Agas. “This program aims to provide immediate financial relief as they recover from the devastation.”
Pensioners residing in calamity-declared areas are eligible for the program, provided they don’t have an existing pension loan for SSS retirement pensioners.
Existing partial disability pensioners can also apply, receiving an advance for the remaining months of their disability pension or three months, whichever is lower.
Pensioners must submit an Application for Assistance Due to Calamity/Disaster Form certified by their Barangay Chairman.
Alternatively, they can submit the form with a certification from the Department of Social Welfare and Development (DSWD) or the NDRRMC if Barangay certification is unavailable.
Approved benefit checks will be available for pickup within 10 working days at the SSS branch where the application was filed. Otherwise, checks will be mailed to the registered address.
Pensioners can also avail of the SSS Pension Loan Program (PLP) for an amount equivalent to three, six, nine, or 12 times their monthly pension, including the P1,000 additional benefit, with a maximum of P200,000.
To qualify for the PLP, retirement pensioners must not have received an advance pension under the previous SSS Calamity Assistance Package.
Qualified pensioners can apply online via the My.SSS Portal or at their nearest SSS branch office. Upon approval, loan proceeds will be credited to their nominated bank account or UnionBank quick card within three working days for online applications and five working days for over-the-counter applications.
The SSS pension loan offers a low interest rate of 10 percent per annum and flexible payment terms ranging from six to 24 months.
The SSS ensures that, after loan deductions, pensioners receive a Net Take Home of at least 47.25 percent of their monthly pension.
“We encourage our calamity-affected pensioners to take advantage of these programs to ease their financial burden during this challenging time,” Agas said.