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Manila Bulletin devider Business devider Banking & Finance devider SSS opens emergency loans for storm-hit workers

SSS opens emergency loans for storm-hit workers

Published Aug 17, 2026 12:16 pm
The Social Security System (SSS) is opening its existing emergency loan program to members affected by Tropical Storm Maymay and the enhanced Southwest Monsoon, easing eligibility rules to speed up financial relief for workers recovering from severe weather.
In a statement on Monday, Aug. 17, Joseph M. de Claro, SSS president and chief executive officer, said that qualified members hit by the calamity can borrow up to ₱20,000 at an interest rate of seven percent per year.
The state-run pension fund lowered the required number of monthly contributions to 18 from 36, provided that applicants have made at least six posted contributions in the trailing 12 months.
Self-employed, voluntary, non-working spouse, and land-based overseas Filipino worker members must also have at least six monthly contributions under their current membership category before the month they apply.
“The ELP is part of SSS’ continuing commitment to provide immediate financial relief to members affected by unforeseen events,” De Claro said. “Through the ELP, qualified members affected by Tropical Storm Maymay and the enhanced Southwest Monsoon may access much-needed financial assistance under more flexible eligibility requirements,” he added.
Borrowers receive a six-month payment moratorium during which no monthly amortizations or penalties will apply.
Regular monthly payments will start in the seventh month, with the total loan structured for repayment over a 30-month term.
To qualify, members must be under 65 years old at the time of application, have a valid Philippine address and updated contact information in SSS records, and maintain an active disbursement account registered on the My.SSS portal.
Applicants must not have past-due short- or long-term loans, outstanding restructured debt, disqualifications due to fraud, or claims on final benefits such as retirement or permanent total disability.
De Claro noted that affected members can apply for an emergency loan and a standard SSS salary loan simultaneously, provided they meet the separate eligibility conditions for both programs.
Applications for both loan types must be submitted online through the agency's portal.

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