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SSS Introduces Latest Loan Program For Pensioners

The Social Security System (SSS) has introduced their newest loan program for the qualified and retired pensioners.

On Monday (September 3, 2018), SSS President and Chief Executive Officer Emmanuel Dooc launched the Pension Loan Program (PLP) allowing senior citizens to avail affordable loads.

PLP would allow retired pensioners to have affordable loans in case of an emergency including medical expenses and prevent pensioners to lend money from loan institutions offering large interest rates.

Loan Program

“Qualified retiree pensioners are those 80 years old and below at the end of the month of loan term, have no outstanding loan balance and benefit overpayment payable to SSS, have no advance pension under the SSS Calamity Package and have been receiving their regular monthly pensions for at least six months,” Dooc said quoted by Manila Times.

Dooc explained that the qualified pensioners could loan a minimum amount twice from their basic monthly pension and an additional benefit worth P1,000.00.

The SSS executive said that pensioners could load at least six times higher than their basic monthly pension but would not exceed P32,000.00.

Loan Program

The loan has an interest rate of only 10 percent per annum until the amount was fully paid.

The pensioners could pay the amount within three, six, or 12 months depending on the amount of loan.

The borrower should apply for the PLP at any SSS branches nationwide and must present its Social Security Card or Unifed Multi-Purpose Identification Card.

What can you say about this? Just feel free to leave your comments and reactions to this article.

READ ALSO: SSS Online Inquiry: How To Check SSS Member Monthly Contribution

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comment(s) for this post "SSS Introduces Latest Loan Program For Pensioners". Tell us what you think abut this post by leaving your comments below.

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  • Erlinda C. Mabutas September 6, 2018, 6:18 am

    Maraming salamat po sa PLAP. Taga Calamba City po ako at pinapupunta po ako sa SSS Binan branch. Hindi ko po alam magpunta sa Binan. Ako po ay diabetic for 2 yrs na at malayo daw po yun Binan branch. Baka po ako abutin ng pag ihi sa biyahe. Mahirap po magpigil. Hindi po ba puwede dito sa Calamba City branch ako magsubmit. At sana po mabigyan kami ng pagkakataon pumili ng buwan para sa monthly amortization. Kc po lalo ako lulubog kung sa 2x ay 3 mos. Lang babayaran. Dapat puwede kong piliin yun isang taon ( 12 mos.) . Kc po un loan ko ay gamitin ko pambili ng gamit para sa sakit ko. Ginagamot ko rin po un uric acid, cholesterol, osteo arthritis, hypertension ko. At maraming po akong medicines na iniinom everyday . Tuwing ikatlong buwan may laboratory test ako. Hoping for your kind consideration. Sana dito na lang po kami magsubmit ng application nmin sa SSS Calamba branch. Mahirap po sa akin magcommute ng malayo at dko alam puntahan. Maraming salamat po.

  • WILSON ERICA BON July 31, 2019, 11:00 pm

    sir itatanung kulang sana kung pwedi po akung kumuha ng SSS card.nawala po ksi yung card ko 5 yrs ago na na holdup po ksi ako nuon nakuha walet ko ayaw na kasi ako bigyan thnks po

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