According to the official social media accounts of Social Security System (SSS), they are planning to launch the SSS Calamity Loan Assistance Program to all members who are affected by the Covid-19 pandemic.
Launching of SSS Calamity Loan
The target date of the launching of this program is on April 24, 2020 (Friday). According to SSS SSS Vice President Fernando Nicolas, they are currently finalizing their system for the said loan program where a member can loan up to PhP 20,000.
How to Apply
The application for the loan will be online via MY.SSS or through www.sss.gov.ph
Qualifications for the Loan Application
Members who are qualified for this loan are those who have paid contributions for 36 months and six months of these should have been made within the last 12 months before the loan application is submitted.
REMINDER: Delinquent borrowers are not qualified for this loan program.
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He clarified that proceeds of this loan program are not sure to be made through online bank crediting because SSS officials are still finalizing agreements with several banks “but definitely, the benefits that have been approved earlier can be sent to the members’ bank accounts anytime.”
Other Programs of SSS amidst Covid-19 Pandemic
- SSS has extended to within 60 days the filing of sickness notifications for self-employed and voluntary members.
- A three-month moratorium on loan payments is also in effect until May 2020 to lessen the impact of the quarantine on workers in the private sector and those who are self-employed.
Source: Philippine News Agency