The Philippine Social Security System (SSS) will provide a calamity loan assistance to members affected by Typhoon Carina in the National Capital Region (NCR) and other areas declared under state of calamity.
The organization's extended help and assistance to typhoon-affected members, assures the people of their commitment with offering financial aid in times of disasters.
"SSS will always be ready to assist our members in typhoon-affected areas. 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," SSS President and CEO Ronaldo Ledesma Macasaet said.
Affected members are eligible to borrow a loan equivalent to their one monthly salary credit or up to a maximum of P20,000.
Once given approval, proceeds will be credited to the member's registered Unified Multi-Purpose Idenfication (UMID)-ATM Card or active accounts with a Philippine Electronic Fund Transfer System and Operations Network (PESONet) participating bank.
The calamity loan assistance can be paid in two years or 24 equal monthly installments with an annual interest rate of 10 percent.
Qualifications for the typhoon-affected members are listed below:
- Have at least 36 monthly contributions, 6 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 calammity loan through their My.SSS account via www.sss.gov.ph.
