SSS eyes launching of calamity loan program by April 24

SSS eyes launching of calamity loan program by April 24
Executives of the Social Security System (SSS) target to launch by April 24, 2020 a calamity loan assistance program to support members affected by quarantine implemented to address the coronavirus disease 2019 (Covid-19) pandemic.
In an online briefing Wednesday, SSS Vice President Fernando Nicolas said they are just finalizing their system for this loan, which will have a maximum amount of PHP20,000 per member.
He said application for the loan will be online via MY.SSS, which can be accessed using the agency’s website, www.sss.gov.ph.
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.
Delinquent borrowers are not qualified for this loan program.
Nicolas urged SSS members to open bank accounts because SSS management has approved the recommendation to pay all the loan proceeds and other benefits through an online banking facility.
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.”
Aside from the calamity loan program, 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.
SSS members may send any inquiries on the agency’s programs to member_relations@sss.gov.phofw.relations@sss.gov.phprnhelpline@sss.gov.phonlineservicesassistance@sss.gov.ph, the SSS website at MY.SSS.
They may also call the SSS automated telephone number at 7917-7777.— By Joann Villanueva / (PNA)

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