SSS opens loan application for members hit by recent Mindanao quakes
Robie de Guzman • November 18, 2019 • 751
MANILA, Philippines – The Social Security System (SSS) on Monday, Nov. 18, will begin accepting applications for calamity loan, advance three-month pension and direct house repair and improvement loan for its members in areas that were recently hit by a string of earthquakes in Mindanao.
SSS president and chief executive officer Aurora Ignacio said over P443 million in calamity loan assistance will be made available to up to 54,000 members in quake-stricken areas in Mindanao.
In a SSS circular dated Nov. 8, the agency said the assistance program covers members and pensioners in areas placed under state of calamity by the National Disaster Risk Reduction and Management Council (NDRRMC): municipalities of Bansalan and Matanao in Davao del Sur; municipalities of Makilala and Tulunan, and Kidapawan City in North Cotabato.
“It is unfortunate that the series of strong quakes greatly affected their daily living. That’s why we prioritized the immediate approval of granting calamity assistance in order to extend financial help to our members and pensioners in the affected areas,” Ignacio said in a statement.
The loanable amount is equivalent to one-month salary credit (MSC) computed based on the average of the last 12 MSC or the total amount of damages as certified by the member in the application form, (rounded up to the nearest thousand), whichever is lower.
To avail of the calamity loan, the SSS said that members should have a minimum of 36 monthly contributions, six of which should be posted within the last 12 months prior to the month of filing of the application.
They should also be registered in the SSS web registration for billing purposes, have not been granted any final benefit such as total permanent disability or retirement, and have no outstanding balance under the loan restructuring program or calamity loan assistance program.
Members must personally apply for the calamity loan assistance program thru the SSS branches, the agency said.
SSS members who work as overseas Filipino workers (OFW) or seafarers may also apply for the program as long as they have a residence in the quake-hit areas.
“Authorization letter should be issued to their authorized representatives to apply for the calamity loan assistance package on their behalf. Member-applicants should also submit a barangay certification as proof that they are residents of the declared calamity area,” Ignacio said.
SSS members and pensioners may apply for the calamity loan assistance program and the advance three-month pensions, respectively, for three months or until February next year.
The assistance package may be availed until February 17, 2020, except for the direct house repair and improvement loan which is up to one year from the issuance of the circular.
MANILA, Philippines – The Social Security System (SSS) has so far approved P15.63 billion in novel coronavirus disease (COVID-19) calamity assistance loans, as of July 28, the Department of Finance (DOF) said Tuesday.
The SSS also approved P190.02 million in unemployment insurance benefits from July 1 to 27 this year, to tide over members heavily hit by the pandemic’s economic fallout, the DOF added.
According to SSS President and CEO Aurora Cruz Ignacio, they have approved more than one million applications for its Calamity Loan Assistance Package (CLAP) for the COVID-19 outbreak since its online filing was launched last June 15.
Ignacio said the Calamity Loan for COVID-19 will run for a period of three months starting June until September 14, 2020 only.
Online application for the loan is now mandatory, she added.
The calamity loan for COVID-19 carries a six percent interest per annum commencing on the 4th month with a 27-month term, inclusive of a three-month moratorium.
The SSS said members who are involuntary separated from work can avail of unemployment insurance equivalent to a half of their average monthly salary credit for a maximum of two months.
To qualify, they should have paid the requisite minimum number of monthly contributions for three years, twelve of which should have been made in the eighteen-month period immediately preceding the month of involuntary separation.
MANILA, Philippines – The Social Security System (SSS) is now accepting applications from members who wish to apply for loan under the COVID-19 Calamity Loan Assistance Program.
The agency said a member may loan up to P20,000 depending on his or her monthly salary credit in the past 12 months.
The SSS specified that to qualify, the applicant must have remitted his or her contributions in the past 36 months, with a local address in the Philippines and has no existing obligations with SSS particularly under the loan restructuring program or previous calamity loan programs.
However, those who already have received permanent disability and retirement benefits are not qualified to apply.
Once approved, members may claim the loaned amount through the Unified Multipurpose Identification card, the Union Bank of the Philippines Quick Card or in a form of check which will be sent to the applicant’s billing address.
Application runs until September 14, 2020.
This is SSS’ way of helping its members who are affected by the current coronavirus disease (COVID-19) pandemic which has impacted the country more than any other calamity in the past.
Out of consideration for its members, the SSS extended the loan payment period to 27 months and lowered the interest rate to 6% as compared to the 24 months-10% interest of the previous calamity loans.
The SSS said it can accommodate up to 1.74 million member-applicants for the calamity loan.
MANILA, Philippines — The Social Security System (SSS) is extending its contribution payment deadline to June 30 to accommodate more members who wish to settle their dues.
The deadline was supposed to be Monday (June 15).
Regular employers may proceed to remit their employees’ contribution covering the months of February, March and April.
Meanwhile, household employers, voluntary, self-employed and non-working spouse members may remit their pending contributions for the first quarter of 2020.
The SSS main office in Diliman, Quezon City expressed concern over the influx of members going to their branches which resulted in a breach of government-imposed health protocols such as physical distancing.
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