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Manila Bulletin devider Business devider SSS releases over P15-B in assistance to members

SSS releases over P15-B in assistance to members

Published Aug 4, 2020 10:00 pm

State-run Social Security System (SSS) released more than P15 billion in calamity assistance loans and unemployment insurance benefits (UIB) in July to help members hit by the pandemic's economic fallout.

 A total of P15.63 billion in coronavirus disease (COVID-19) calamity assistance loans and P190.2 million in UIB were disbursed by the pension fund before the end of last month, the Department of Finance (DOF) said.

 The SSS has approved 14,186 applications for the UIB as of July 27, DOF said.

 From August 2019 when the SSS started accepting UIB applications, and up to July 27, it has approved a total of 43,347 applications with a combined total of P544.37 million.

 Aurora Cruz Ignacio, SSS president and chief executive said the agency has approved more than 1.03 million applications for its Calamity Loan Assistance Package (CLAP) for the COVID-19 outbreak since its online filing was launched last June 15.   

 She said that from June 15 to July 28, CLAP applications average P15,144 per claim.   

 Ignacio said the Calamity Loan for COVID-19 will run for a period of three months starting June until September 14 only and online application is now mandatory.   

 President Duterte declared a state of national calamity in the country last March 16 as a result of the COVID-19 outbreak.  

 The Calamity Loan for COVID-19 carries a 6-percent interest per annum commencing on the 4th month with a 27-month term, inclusive of a three-month moratorium. 

 To speed up the grant of loans and benefits to SSS members, Ignacio said that starting June 28, CLAP claims were released via “cheque-less” disbursement using Development Bank of the Philippines PesoNet accredited banks. 

 She said the SSS has also started using electronic payment systems in releasing the UIB and funeral benefits to its members. 

 The SSS has made mandatory the online filing of claims for the CLAP since June 15, and also for the UIB starting July 15 to speed up the application process. 

 Online filing of Funeral Benefit Claims for SSS member-claimants was made available starting July and will be mandatory by August, Ignacio said. 

 The online filing of the SSS’ retirement benefit for members who are at least 65 years old began in September 2015, while the online applications for the retirement benefit of OFWs and voluntary members who are 60 to 64 years old was made available starting December 2018. 

 The online filing for both claims, along with the filing of the sickness benefit reimbursement for employers, became mandatory this July, Ignacio said.   

 Online applications for the salary loans were already mandatory since November last year.

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