Photo credit: Libot CamSur

The Social Security System (SSS) is stepping up to help members and pensioners get back on their feet by offering immediate access to salary and pension loans. Whether you're a working member or a retiree-pensioner, SSS has your back during these trying times.

"As part of our proactive response to the urgent financial needs of our members and pensioners during natural calamities, the SSS loan programs are readily available to support their recovery," shared SSS Senior Vice President for Lending and Asset Management Group Pedro T. Baoy.

How to Avail of the Salary Loan

If you're a working member—whether employed, self-employed, or a voluntary contributor—you can apply for a one-month salary loan if you've got at least 36 monthly contributions, with six posted within the last 12 months. If you're aiming for a two-month salary loan, 72 contributions are required.

“They must be under 65 years of age at the time of loan application and have not been granted any final benefit like total disability, retirement or death benefits,” Baoy added, reminding members of the basic requirements.

And if you're paying your contributions individually, make sure you’ve posted at least six contributions under your current membership type before you apply.

Employers are also reminded to stay on top of their employees' contributions and loan payments, as these affect eligibility. "Employers’ compliance is crucial in these situations," Baoy emphasized.

The process is hassle-free, as members can apply for salary loans through the My.SSS Portal. Once approved, the loan amount will be credited directly to your registered UMID-ATM Card or your active account in a PESONet-participating bank. Repayments can be spread across 24 monthly installments at a 10 percent annual interest rate.

Pension Loan for Retiree-Pensioners

For retiree-pensioners, the SSS offers a pension loan option that ranges from three to 12 times your Basic Monthly Pension, with a cap of ₱200,000.

To be eligible, you’ll need to meet the following requirements:
- Be 85 years of age or younger by the end of the loan term
- Have no deductions from your monthly pension
- Be receiving your regular monthly pension for at least one month
- Ensure that your contact details are updated

For those who’ve availed of the 18-month advance pension under the SSS Calamity Assistance Package, you must be receiving your regular monthly pension for at least a month before applying for a loan.

Pension loan applications can also be submitted online through the My.SSS Portal or at any SSS branch. Like salary loans, the proceeds are credited to your UMID-ATM Card or bank account. The loan's amortization, including the 10 percent annual interest, will be deducted from your monthly pension, ensuring that you still take home at least 47.25 percent of your Basic Monthly Pension, plus the additional ₱1,000 benefit.

If you’ve been hit hard by Typhoon Kristine, SSS is making sure financial assistance is available when you need it the most.