SSS calamity loan package out this week


Posted at Nov 25 2020 02:56 PM

Watch more News on iWantTFC

The Social Security System said Wednesday it would start offering a calamity loan package to its members later this week to help them cope with the recent spate of destructive storms. 

The loan package will be open from Nov. 27 until Feb. 26, 2021 for members from areas under a state of calamity, said SSS CEO and President Aurora Ignacio. 

Loan applicants should have 36 monthly contributions and have not missed this obligation in the last 6 months, she said in a public briefing. 

They can take a loan equivalent to 1 month of their salary and ask for a 3-month advance pension, said Ignacio. 

The loan is payable in 2 years, she added. 

Watch part of the briefing here.