SSS offers Glenda calamity package

MANILA, Philippines - The Social Security System (SSS) unveiled a new calamity relief package for those affected by Typhoon Glenda.

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.

SSS vice president and officer-in-charge of the fund’s Lending and Asset Management Division May Catherine Ciriaco, said the package is extended to members in areas declared under state of calamity by the National Disaster Risk Reduction and Management Council (NDRRMC), which as of July 18 include the provinces of Albay, Camarines Sur, Samar, Laguna, Naga City, and the town of Obando in Bulacan.

“This relief assistance was set up to help our members in urgent need of funds during these times,” Ciriaco said.

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 that they live or work in a declared calamity area.

“The SSS will also waive the one-percent service fee charged on salary loan applications, both for new and renewed loans,” Ciriaco said, adding that the same eligibility requirements, interest rate, and repayment terms on salary loans will still apply.

The assistance package also offers qualified SSS pensioners an option to get in advance their three-month’s worth of pension. Availment of advance pension payments requires submission of an application form duly certified by the Barangay chairman.

Ciriaco 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, the SSS 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 members who need to rebuild their homes.

Affected members have until Oct. 31 to submit applications. On the other hand, members who apply for direct house repair and improvement loan have a year to prepare their application.