Daily Tribune
(File Photo) Social Security System (SSS) members line up in the agency's branch in Diliman, Quezon City to avail its services. Social Security System (SSS) members can receive benefits for death, funeral, maternity leave, permanent disability, retirement, sickness, and involuntary separation/unemployment.
ANALY LABOR
President Ferdinand Marcos Jr. announced on Thursday that members of the Social Security System (SSS) who have a clean record may avail of loans at a lower interest rate starting in July.
In his speech, Marcos said SSS members who avail of salary loans will have an interest rate of 8 percent, and 7 percent for calamity loans, compared to the previous rate of 10 percent.
In September, the SSS will launch an expanded Pension Loan Program for surviving spouse pensioners.
With this, surviving spouses of members can avail of loans of up to P150,000.
Marcos said the SSS is coordinating with financial institutions in studying the possibility of having a “micro-credit loan facility.”
“This aims to meet the immediate financial needs of their members,” he said.
“These SSS programs are not only for workers here in the Philippines—but also for members abroad,” he added.
As of press time, the SSS has yet to make a statement on the matter.
