NATIONAL
Advocates Philippines
SSS Offers Lifeline To 'Carina' Survivors With Calamity Loan Assistance
Photo credit: Engr. Berto
In the wake of Typhoon ‘Carina,’ the Social Security System (SSS) is stepping up to support its members in the National Capital Region and other areas that might be declared under a state of calamity. SSS President and CEO Rolando Ledesma Macasaet has announced a calamity loan program designed to provide crucial financial aid to those impacted by the storm.
How Much Can Members Borrow?
Affected members can apply for a loan equivalent to their one-month salary credit, with a maximum limit of P20,000. Macasaet emphasized, "SSS will always be ready to assist our members in typhoon-affected areas. We want to assure them that in times of calamities, they can rely on SSS to provide them the needed financial assistance as they recover from Typhoon Carina."
Who Can Apply?
To qualify for the calamity loan, members need to meet the following criteria:
- Have at least 36 monthly contributions, with 6 posted within the last 12 months before applying.
- Reside in a declared calamity area.
- Be below 65 years old at the time of application.
- Have no final benefit claims like permanent total disability or retirement.
- Have no overdue SSS short-term member loans.
- Have no outstanding restructured or previous calamity loans.
Easy Application Process
Members can apply for the calamity loan through their My.SSS account on the SSS website. Once approved, the loan will be credited to the member’s registered Unified Multi-Purpose Identification (UMID)-ATM Card or an active account with a PESONet-participating bank.
Flexible Repayment Terms
The calamity loan can be repaid over two years in 24 equal monthly installments, with an annual interest rate of 10%. Macasaet added, “We hope that through the calamity loan assistance, we may be able to help typhoon-affected members as they recover from the adverse effects of Typhoon Carina.”
With this initiative, the SSS aims to provide a financial cushion to its members, ensuring they have the support needed to rebuild and recover from the devastation caused by Typhoon Carina.
How Much Can Members Borrow?
Affected members can apply for a loan equivalent to their one-month salary credit, with a maximum limit of P20,000. Macasaet emphasized, "SSS will always be ready to assist our members in typhoon-affected areas. We want to assure them that in times of calamities, they can rely on SSS to provide them the needed financial assistance as they recover from Typhoon Carina."
Who Can Apply?
To qualify for the calamity loan, members need to meet the following criteria:
- Have at least 36 monthly contributions, with 6 posted within the last 12 months before applying.
- Reside in a declared calamity area.
- Be below 65 years old at the time of application.
- Have no final benefit claims like permanent total disability or retirement.
- Have no overdue SSS short-term member loans.
- Have no outstanding restructured or previous calamity loans.
Easy Application Process
Members can apply for the calamity loan through their My.SSS account on the SSS website. Once approved, the loan will be credited to the member’s registered Unified Multi-Purpose Identification (UMID)-ATM Card or an active account with a PESONet-participating bank.
Flexible Repayment Terms
The calamity loan can be repaid over two years in 24 equal monthly installments, with an annual interest rate of 10%. Macasaet added, “We hope that through the calamity loan assistance, we may be able to help typhoon-affected members as they recover from the adverse effects of Typhoon Carina.”
With this initiative, the SSS aims to provide a financial cushion to its members, ensuring they have the support needed to rebuild and recover from the devastation caused by Typhoon Carina.
Jul 25, 2024
We are dedicated storytellers with a passion for bringing your brand to life. Our services range from news and media features to brand promotion and collaborations.
Interested? Visit our
Contact Us page for more information. To learn more about what we offer, check out our latest article on services and opportunities.
