SSS offers calamity assistance to members affected by ‘Tisoy’

Published December 23, 2019, 12:00 AM

by manilabulletin_admin


State-run Social Security System (SSS) said that members and pensioners affected by typhoon “Tisoy” may now apply for the Calamity Assistance Package (CAP).

In a statement, Aurora C. Ignacio, SSS president and chief executive officer said that more than 68,000 members and pensioners are eligible to apply for ₱614.52-million calamity assistance program.

To recall, Southern Luzon and parts of Visayas region were struck by powerful typhoon “Tisoy” earlier this month that left at least nine people dead and some ₱811 million in agricultural damage.

Affected SSS members and pensioners may now avail of the calamity loan, direct house repair and improvement loan and advanced three-month pension from December 20, 2019 until March 19, 2020, except for direct house repair and improvement loan.

“This is to inform our members and pensioners in calamity-stricken areas [declared by the National Disaster Risk Reduction and Management Council (NDRRMC)] that SSS is ready to assist them with their immediate financial needs,” Ignacio said.

Areas under state of calamity are Batangas City; Mabitac, Laguna; Provinces of Quezon, Cavite, Oriental Mindoro, Occidental Mindoro, Marinduque; Corcuera, Romblon and San Fernando in Romblon; and Province of Northern Samar.

The CAP includes a loan assistance program which is a separate loan window from the regular salary loan.

Members can borrow up to ₱40,000 in calamity loan depending on their average last 12 monthly salary credit.

The financial assistance is also open to pensioners who can avail three months advance of their monthly pension. Moreover, members can also apply for direct housing repair and improvement loan.

The calamity loan is payable in two years in equal monthly installments with an annual interest rate of 10 percent and one percent monthly penalty for late payments.

To eliminate additional expenses on the part of member-borrowers, SSS waived the one percent service fee.

Applicants under the advance three-month pension whose present address differ from the address in the SSS database should submit a barangay certification to prove that they reside in a declared calamity area.

Ignacio said more than 679,000 paying members and 40,000 pensioners of the pension fund were affected by tropical cyclone Tisoy.