SSS releases P1.15b in loans to typhoon-stricken members
The Social Security System (SSS) has released more than P1.15 billion worth of calamity loan assistance to almost 70,000 typhoon-affected members.
In a statement on Friday, Carlo Villacorta, SSS acting head for public affairs and special events division, said that last month, SSS offered a calamity loan to qualified members in areas affected by tropical cyclones “Kristine,” “Marce,” “Nika,” “Ofel” and “Pepito.”
The calamity loan is granted to SSS members living or residing in calamity-hit areas declared under a state of calamity by the National Disaster Risk Reduction and Management Council.
Villacorta reminded SSS members in areas affected by the recent tropical cyclones that they have until Dec. 21 to submit their calamity loan applications through their My.SSS account.
Qualifications
To qualify for the calamity loan, members must have at least 36 monthly contributions, six of which must be posted within the past 12 months before the month of filing of loan application.
Meanwhile, individually paying members, such as self-employed, voluntary and land-based overseas Filipino worker members, must have at least six posted monthly contributions under the current membership type before the month of loan application to qualify for the calamity loan.
Aside from the contribution requirements, member-applicants must have no final benefit claim, such as permanent total disability or retirement; have no past due SSS short-term member loans; have no outstanding restructured loan or calamity loan; and have an employer-certified loan application online (My.SSS facility), if employed.
“The series of extreme weather conditions have immensely affected our members’ financial well-being. In response, many have quickly availed our calamity loan assistance to replace or repair their damaged properties,” Villacorta said.
“We hope that loan privileges provided by SSS will support their full recovery, just in time for the holiday season.”
