SSS releases over P1-B loan to typhoon-affected members

The Social Security System (SSS) has released over P1.15 billion in calamity loan assistance to nearly 70,000 members impacted by recent typhoons.

In a statement on Friday, SSS Acting Head for Public Affairs and Special Events Division Carlo Villacorta reported that last month, SSS extended calamity loan assistance to qualified members in areas hit by tropical cyclones Kristine, Marce, Nika, Ofel, and Pepito.

The loan is available to SSS members living in areas that have been declared under a state of calamity by the National Disaster Risk Reduction and Management Council.

Villacorta reminded affected members that they have until December 21 to apply for the calamity loan through their My.SSS accounts.

To be eligible, members must have at least 36 monthly contributions, with six of those contributions posted within the last 12 months before the loan application date.

For self-employed, voluntary, and land-based Overseas Filipino Worker members, the requirement is six posted monthly contributions under their current membership type prior to applying.

In addition to the contribution requirements, applicants must not have any final benefit claims, such as permanent total disability or retirement; must have no past-due SSS short-term loans; must not have an outstanding restructured loan or previous calamity loan; and, if employed, must have an employer-certified loan application submitted through the My.SSS facility.

“The recent extreme weather events have severely impacted the financial stability of our members. In response, many have quickly accessed our calamity loan assistance to repair or replace damaged property,” Villacorta stated.

“We hope the support provided by SSS will help our members recover fully, just in time for the holiday season.”