Social Security System (SSS) members hit by the powerful earthquake in Cebu can now apply for a calamity loan effective Oct. 2.
In a statement on Thursday, SSS president and CEO Robert Joseph De Claro said the new guidelines allowed the pension fund to respond sooner than before, as the activation process of its calamity loan program had been significantly shortened. Members and pensioners affected by the earthquake may borrow up to P20,000 at an interest rate of 7 percent per annum. Loan applications can be filed using members’ My.SSS account.
In addition to Cebu, De Claro said the SSS calamity loans also covers members affected by the recent tropical cyclones-Mirasol, Nando and Opong-and the enhanced southwest monsoon.
A state of calamity was declared over 85 towns and cities in Ilocos Norte, Cagayan, Oriental Mindoro, Romblon, Masbate, Aklan,and Maguindanao del Sur as a result of the weather disturbances. /dda