The Social Security System (SSS) has planned to provide calamity loan assistance to members affected by Typhoon ‘Carina’ in the National Capital Region (NCR) and other areas that may soon be declared under a state of calamity.
Members can borrow a loan equivalent to their one monthly salary credit or up to a maximum of PHP20,000.
“We want to assure them that in times of calamities, they can rely on SSS to provide them the needed financial assistance as they recover from Typhoon Carina,” said SSS President and Chief Executive Officer Rolando Ledesma Macasaet.
To qualify, typhoon-affected members must:
- Have at least 36 monthly contributions, six of which must be posted within the last 12 months before the month of filing of application;
- Be living or residing in the declared calamity area;
- Be below 65 years old at the time of loan application;
- Have no final benefit claim such as permanent total disability or retirement;
- Have no past due SSS Short-Term Member Loans;
- Have no outstanding restructured loan or calamity loan.
Interested members can apply for the calamity loan using their My.SSS account via www.sss.gov.ph. According to Macasaet, they can pay the calamity loan in two years or 24 equal monthly installments with an annual interest rate of 10%.
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