• SSS to release relief package for Nona victims

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    MEMBERS of the Social Security System (SSS) residing in areas hit by typhoon Nona can start availing themselves of a calamity relief package that includes early renewal of salary loans, advance disbursement of pensions, and preferential terms for house repair and improvement loans starting on January 4 next year.

    The typhoon displaced thousands of families in Nueva Ecija, parts of Quezon, Bulacan, Tarlac, and Northern Samar.

    SSS Assistant Vice President for Member Loans Department Boobie Angela A. Ocay said the agency will start releasing the relief package on January 4 in all areas affected by the typhoon.

    “In this time of need, we offer our assistance to our calamity-stricken members and pensioners so that they can cope and move on faster from the effects of this recent disaster,” Ocay said.

    She noted that the first package under the calamity relief package is the Salary Loan Early Renewal Program (SLERP), which waives the required 50 percent completion of loan payment as a qualifying condition for loan renewal.

    Even SSS members who have only paid a few monthly amortizations on their loans can apply for renewal.

    The pension fund is also waiving the one-percent service fee normally charged on SSS salary loans to increase the loan proceeds of members availing of the SLERP.

    The SSS grants one-month and two-month salary loans of up to P16,000 and P32,000, respectively, which are payable in two years.

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