Qualified Members May Apply for SSS Calamity Loans for Recovery from Typhoon Carina
SSS CALAMITY LOANS – The Social Security System announced that qualified members living in areas hit by Typhoon Carina may apply for a calamity loan.
Typhoon Carina left several areas in the Philippines flooded. The National Capital Region (NCR) is one of those that were severely hit by the storm. Prior to its entry in the Philippine Area of Responsibility (PAR), weather experts forecasted that it has the capacity to turn into a super typhoon.
Typhoon Carina brought heavy rains and strong winds in several areas in the Philippines most especially in Luzon. Amid several cities flooded, President Bongbong Marcos explained why he cannot be the one to announce a State of Calamity.
With the President recalling the prerogative of the local government units in the declaration of State of Calamity in their cities based on their assessment, some Typhoon Carina-hit areas made the declaration. The NCR is currently under a state of calamity.
Amid countless Filipino families facing a lot of problems due to the flood and impacts of Typhoon Carina, the Social Security System reminded qualified members of an option that they can take. Aside from the SSS Salary Loan, the state-run social insurance entity announced that SSS Calamity Loans are ready for qualified members in Typhoon Carina-hit areas.
There are only a few qualifications set by the SSS in applying for the calamity loan offer. To be eligible to apply for the loan, the member must be:
- at least 36 monthly contributions, six of which must be posted within the last 12 months before the month of filing of application
- not older than 65 years old at the time of loan application
- living or residing in the declared calamity area
- having no final benefit claim such as permanent total disability or retirement
- having no outstanding restructured loan or calamity loan
- having no past due SSS Short-Term Member Loans
Under the SSS Calamity Loans, a qualified member may get up to an equivalent of their one monthly salary credit or up to Php 20,000. In a statement, SSS president and Chief-Executive-Officer (CEO) Rolando Ledesma Macasaet assured that the state entity will always be ready to help its members in typhoon-affected areas.
Furthermore, the SSS President expressed a guarantee to the members that they can rely to the SSS to provide them an assistance as they recover from the effects of Typhoon Carina. Members may apply for the SSS Calamity Loans online for a more convenient process. It can be done through their My.SSS account through www.sss.gov.ph.
The loan is payable for up to 24 months. Once the SSS Calamity Loan application is approved, the loan proceeds will be credited to the member’s chosen account.