SSS calamity loans for Bataan flood victims

Published September 26, 2018, 2:16 PM

by Patrick Garcia

By Mar Supnad

BALANGA CITY, Bataan – The Social Security System (SSS) continues to offer calamity loans to its members and pensioners affected by the massive flooding in Bataan triggered by a succession of weather disturbances in the past weeks.

SSS Logo
MB FILE – SSS Logo
(MANILA BULLETIN)

SSS Balanga Branch Head Joel Villafuerte said SSS opened its Calamity Loan Assistance Program (CLAP) last August 13 for its members who are residing in areas placed under a state of calamity.

Eligible applicants who can avail the assistance loan must have at least 36 monthly contributions, 6 of which should be posted within the last 12 months prior to the month of filing of application.

Members, however, who have been granted with final benefits, such as for total permanent disability or retirement, or who have availed the SSS Loan Restructuring Program are excluded from the loan assistance.

“Applicants are required to present one valid ID together with an accomplished application form and certification form as proof that the applying pensioner is affected by the calamity,” Villafuerte added.

Loan amount shall be equivalent to one month salary credit (MSC) computed based on the average of the last 12 MSC or the total amount of damages certified by the member in the application form.

The loan shall be payable within two years in 24 equal monthly installments. SSS will accept loan applicants until November 12.

 
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