SSS Releases Over ₱1.15B in Calamity Loans to Nearly 70,000 Members

The Social Security System (SSS) has distributed more than ₱1.15 billion in calamity loans to almost 70,000 members affected by recent typhoons, just two weeks after launching the assistance program.

Support for Recovery

SSS Acting Head for Public Affairs and Special Events Division Carlo C. Villacorta emphasized the program’s importance in aiding members during the holiday season.

“The series of extreme weather conditions have immensely affected our members’ financial well-being. In response, many have quickly availed of our calamity loan assistance to replace or repair their damaged properties. We hope these loan privileges will support their full recovery,” Villacorta said.

Eligible Areas and Members

The program is available to members residing in areas declared under a state of calamity by the National Disaster Risk Reduction and Management Council (NDRRMC) due to tropical cyclones Kristine, Marce, Nika, Ofel, and Pepito.

To qualify for the calamity loan assistance, members must:

• Have at least 36 monthly contributions, with six posted within the last 12 months prior to the application.
• Reside in a declared calamity area.
• Be below 65 years old at the time of the application.
• Have no final benefit claims (e.g., permanent disability or retirement).
• Have no overdue short-term SSS loans or outstanding restructured or calamity loans.

Self-employed, voluntary, and land-based Overseas Filipino Worker (OFW) members must also have six posted contributions under their current membership type before applying.

Loan Terms

Members can repay the calamity loan over two years, with an annual interest rate of 10%. Applications for the program are open until December 21, 2024, and can be submitted through the My.SSS online portal.

Additional Assistance

This initiative follows other efforts by SSS, including the recent release of ₱32 billion for 13th-month pensions and December payouts.