MANILA, (PIA) — The Social Security System (SSS) announced today that members in areas affected by recent tropical cyclones—Kristine, Leon, Marce, Nika, Ofel, and Pepito—can apply for a calamity loan until December 19, 2024.
SSS Officer-in-Charge Voltaire P. Agas stated that qualified members can secure a loan equivalent to their one monthly salary credit or up to P20,000.
“Our country was battered by multiple tropical cyclones in less than a month, making life extremely difficult for our kababayans in devastated areas. SSS wants to extend a lending hand to them through this financial assistance to help them rebuild their lives,” Agas said.
Members residing in areas declared under a state of calamity by the National Disaster Risk Reduction and Management Council (NDRRMC) are eligible for the calamity loan. Notable areas affected by TC Kristine include Dagupan, Bani, and Anda in Pangasinan; various municipalities in Isabela; multiple provinces in the Calabarzon region; and parts of the Bicol region, among others.
Additionally, areas affected by TCs Nika, Ofel, and Pepito, such as Quirino and Mountain Province, as well as several municipalities in Cagayan and Ilocos Norte, are also included in the calamity loan eligibility.
To qualify for the calamity loan, members must meet several criteria, including:
- A minimum of 36 monthly contributions, with six posted within the last 12 months.
- For individually paying members, at least six contributions under their current membership type.
- Residence in a declared calamity area.
- No final benefit claims such as permanent total disability or retirement.
- No past due SSS Short-Term Member Loans or outstanding restructured or calamity loans.
- Employer certification of the loan application through the My.SSS facility, if employed.
Agas also noted that members may consider an SSS salary loan as an alternative. To qualify for this option, applicants must be under 65 years of age and not have received any final benefits. They must also have at least 36 monthly contributions to obtain a loan of up to P20,000 or 72 contributions for a loan of up to P40,000.
Interested members can submit their applications for both calamity and salary loans online through their My.SSS accounts at www.sss.gov.ph. Upon approval, loan proceeds will be credited to the member’s registered Unified Multi-Purpose Identification (UMID)-ATM Card or active accounts with participating banks.
Agas highlighted that members can repay the loans in installments over 24 months at a low annual interest rate of 10 percent based on the diminishing balance. (JMP/PIA-NCR)
