SSS Offers Loans to Members, Pensioners Affected by Storm Kristine

The Social Security System (SSS) announced financial assistance options for its members and pensioners impacted by Severe Tropical Storm Kristine. SSS Senior Vice President Pedro Baoy stated that the agency’s salary and pension loan programs are available to help members and pensioners with urgent financial needs arising from the calamity.

To qualify for a one-month salary loan, employed, self-employed, and voluntary SSS members must have at least 36 monthly contributions, six of which should have been made in the last 12 months. For a two-month loan, members need at least 72 contributions. Eligible members can apply online via the My.SSS Portal, with loan proceeds credited to their UMID-ATM card or active PESONet-linked bank accounts.

Retiree-pensioners can also apply for loans equivalent to three to 12 times their monthly pension, up to a maximum of P200,000. Pensioners must be receiving regular monthly benefits, have updated contact information, and be free of outstanding SSS loan deductions. Pension loan applications are accepted both online and in-branch.

Both loans come with a 10% annual interest rate and offer flexible repayment terms. For pensioners, monthly deductions ensure a minimum take-home of 47.25% of their Basic Monthly Pension.