The Social Security System (SSS) has announced that members affected by the recent typhoon Ruby (international name Hagupit) can avail of calamity relief assistance program which covers salary and housing loans or three months’ worth of pension in advance.
Only active members and regular pensioner working or living in areas put under state of calamity by the National Disaster Risk Reduction and Management Council (NDRRMC) can apply for assistance.
The following areas were declared under state of calamity during the typhoon which hit the country from December 3 to 12 leaving 18 dead and more than 900 injured: San Pablo City, Laguna; Batangas; Albay; Camarines Sur; Catanduanes; Masbate; Naga City; Sorsogon City; municipalities of Juban, Gubat, Magallanes in Sorsogon; Northern Samar and Eastern Samar.
“SSS members who are facing short-term cash needs can apply for salary loans with waived service fee. If they have existing loans, they can renew it under the Salary Loan Early Renewal Program (SLERP) as long as they are eligible in terms of contributions based on our regular loan guidelines,” said SSS Vice President and Officer in Charge for Lending and Asset Management Division May Catherine C. Ciriaco.
Pensioners who would want to advance their pension for three months need to show a barangay certificate to prove they live in a calamity area unless their address in the SSS database already indicates they live in such areas.
Members may also apply for salary loans with waived service fee or renew existing loans under the Salary Loan Early Renewal Program (SLERP). The loans will be charged the existing rate of 10 percent annually until fully paid, payable for two years and will only incur a penalty of one percent per month if not paid on due date.
The SSS will also provide a House Repair and Direct Improvement Loan which is only offered at six percent per annum, amounting to a three-percent decrease from the existing rate.
Those who may want to apply for any of these relief assistance have until March 31, 2015 to do so, except for the House Repair and Direct Improvement Loan which covers a period of one year from the issuance of the SSS memo.
Payments will be issued through to be picked up at the branch where the member filed his/her application while unclaimed checks within the holding period of 10 days will be mailed directly to the member.
This calamity assistance program has been an ongoing project of the SSS since 2013 when Typhoon Maring hit the country.