SSS sets guidelines for calamity assistance in Bicol

LEGAZPI CITY (PIA) – Members and pensioners of the Social Security Systems (SSS) in provinces declared under state of calamity in the Bicol region can receive financial assistance to help them recover from the damages brought by typhoons Quinta, Rolly and Ulysses.

In the Bicol region, the National Disaster Risk Reduction and Management Council (NDRRMC) has declared Albay, Camarines Sur and Catanduanes under state of calamity.

SSS has announced that starting 27 November 2020, the SSS will open three programs to provide financial assistance for typhoon-affected members and pensioners.

These programs are the Calamity Loan Assistance Program (CLAP) and Three-month Advance Pension for SS and Employees’ Compensation (EC) pensioners, with applications to be accepted until 26 February 2021. The Direct House Repair and Improvement Loan on the other hand will be open for one year from the issuance of its corresponding circular.

Calamity Loan Assistance Program
Under the CLAP, qualified members may avail of a loan equivalent to the average of their last 12 monthly salary credits (MSC).

To qualify, members must have an online SSS account and must have at least 36 monthly contributions, six of which should be posted within the last 12 months before the month of application.

CLAP applications must be filed online.
The calamity loan is payable within two years with10% interest rate per annum and one percent penalty for late payments. The service fee has been waived.

Members granted with final benefit such as permanent total disability or retirement and outstanding loans under the Loan Restructuring Program or previous CLAPs are not qualified to avail of this program.

Three-month Advance Pension
SS and EC pensioners residing in areas declared under state of calamity may apply for the Three-month Advance Pension.

However, retiree-pensioners who have existing loans under the Pension Loan Program (PLP) are not qualified for the advance pension.

Applications may be filed at any SSS branch.

Direct House Repair and Improvement Loan
This program is open for SSS members residing in NDRRMC-declared calamity area and whose house was damaged by super typhoon Rolly and typhoon Quinta and Ulysses.

Under this program, members can avail up to one million pesos loan.
To qualify, the member must have at least 24 monthly contributions, three of which are posted within the last 12 months before the month of application and has not been previously granted a Direct House Repair and Improvement Loan.

Likewise, the member must have not been granted any final benefit nor refunded SSS contribution. While their spouse, if applicable, must be up to date in the payment of all other existing SSS loans.
The loan has an annual interest rate of 8% for loans of up to P450,000 and 9% for loans over P450,000.

The loan is payable in a maximum of 20 years. The said loan will be due starting on the seventh month from its approval.

For further information, visit the nearest SSS office or follow the SSS social media accounts. (SAA-PIA5/Albay)

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