The Social Security System or SSS is now offering loans for its members and pensioners affected by the recent earthquakes in Mindanao.
SSS president and CEO Aurora Ignacio said that members can avail the agency’s Calamity Assistance Package to help them repair their houses.
Starting this week, SSS is set to roll out the Calamity Assistance Package in which members can advance their three months pension.
Qualified members and pensioners are those with home addresses located in quake-affected areas.
These areas include the provinces of Davao del Sur, North Cotabato, and Kidapawan City.
SSS sets aside a Php443 billion fund for the calamity loan. At least 54,000 members and pensioners are expected to claim the loan assistance.
A member can claim the calamity assistance package if her or she has contributed to the agency in the last 36 months.
They can also get a month-long worth of salary which has a 10% interest and 1% interest for late payment.
A member can also loan up to Php1 million for direct house repairs, which has a 9% interest.
Members are required to have been paying 24 months-worth of contributions to the agency.
