SSS lists areas eligible for loan relief packages

MANILA, Philippines - The Social Security System (SSS) will be offering a relief package for qualified members living in specified areas hit by Typhoon Glenda.

SSS said members residing in the 22 areas declared under a state of calamity by the National Disaster Risk Reduction  and Management  Council are entitled to avail of loans and advanced  pension  payments.

These areas are Obando, Bulacan; Ibaan, Batangas; Cavite; Malvar, Batangas; Laguna; Rizal; Taal, Batangas; Cuenca, Batangas; Quezon province; Batangas City; Albay; Camarines Sur; Sta. Teresita, Batangas; Tigaon, Camarines Sur; Laurel, Batangas; Bula, Camarines Sur; Lemery, Batangas; Naga City; San Nicolas, Batangas; Samar; Padre Garcia, Batangas; and Muntinlupa City.

The  deadline  of  submission  of  applications  is  on Oct.  31 except  for  the direct house repair and improvement loan, which is one year from the issuance of the circular.

Applications  will  be  accepted  at  any  SSS  branch  starting  Aug. 1.

The program allows members of the state pension fund to renew their salary loans, avail of house repair loans with easier terms, and advance their pension payments.

The package includes the Salary Loan Early Renewal Program (SLERP), which enables existing borrowers in affected areas to renew their salary loans ahead of the prescribed period under the regular loan guidelines. Members with sanctions on loan renewal due to their availment of the SSS Loan Penalty Condonation program are also allowed to apply for SLERP, provided they live or work in a declared calamity area.

The assistance package also offers qualified SSS pensioners with an option to get in advance three months worth of pension. Availment of advance pension payments requires submission of an application form duly certified by the barangay chairman.

SSS said the regular release of pensions will automatically resume right after the three-month period covered by the advance payments.

Aside from the SLERP and three-month advance pensions, SSS has also reduced the interest rates for the SSS direct house repair and improvement loan to six percent per annum. The service fee is also waived to further help the members who need to rebuild their homes.