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SSS approves over P1.15 billion in calamity loans for typhoon-affected members

Business

SSS approves over P1.15 billion in calamity loans for typhoon-affected members

State-run Social Security System (SSS) announced that it had disbursed over P1.15 billion in calamity loan assistance to nearly 70,000 members affected by recent typhoons.

In a statement, Carlo C. Villacorta, SSS acting head for public affairs, said the swift action comes in response to the urgent need for financial aid following the devastation caused by tropical cyclones Kristine, Marce, Nika, Ofel, and Pepito.

Villacorta said the loans are intended to help members replace or repair damaged property.

“The series of extreme weather conditions have immensely affected our members’ financial well-being," Villacorta said.

"In response, many have quickly availed our calamity loan assistance to replace or repair their damaged properties. We hope that loan privileges provided by SSS will support their full recovery, just in time for the Holiday season,” he added.

The calamity loan program is available to SSS members residing in areas declared under a state of calamity by the National Disaster Risk Reduction and Management Council (NDRRMC).

To be eligible, members must meet specific contribution requirements, including having at least 36 monthly contributions, six of which must be posted within the 12 months prior to applying.

Self-employed, voluntary, and land-based Overseas Filipino Worker members must have at least six posted monthly contributions under their current membership type.

In addition, applicants must not have any final benefit claims, past due short-term loans, outstanding restructured loans, or previous calamity loans.

Employed members must also have their loan applications certified by their employer online. The deadline to apply for the calamity loan is Dec. 21, 2024.

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Social Security System (SSS)

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