MEMBERS and pensioners of the Social Security System (SSS) who were affected by the earthquake in Batanes last July can tap the state-run pension fund’s calamity assistance package.
In a statement on Friday, SSS President and Chief Executive Officer Aurora Ignacio said the calamity assistance package is available to members and pensioners who are residents of areas in Batanes which were declared by the National Disaster Risk Reduction and Management Council as under state of calamity after being hit by an earthquake last month.
SSS opened its Calamity Loan Assistance Program (CLAP), three-month advance pension and Direct House Repair and/or Improvement Loan to affected members and pensioners.
“Through the CLAP, qualified members may be granted a loan amount equivalent to their respective average monthly salary credit (MSC) which is computed based on the average of the last 12 MSCs, according to the pension fund,” the pension fund explained.
Meanwhile, Social Security and Employees’ Compensation pensioners whose residence are in the said earthquake-hit areas may apply for a three-month advance pension.
Applicants will be required to submit an accomplished Application for Assistance Due to Calamity or Disaster duly certified by their respective barangay (village) chairman as proof that they reside in the area.
Aside from the CLAP and three-month advance pension, SSS said its members with damaged or destroyed houses may apply for the Direct House Repair and/or Improvement Loan.
“Members granted any final SSS benefit, refunded SSS contributions, or previously granted with a Direct House Repair and/or Improvement Loan are not qualified to avail of the said program,” SSS said.
If qualified, members can borrow a maximum loan of P1 million under the program, which has an interest rate of 8 percent per year for loan amounts of up to P450,000 and 9 percent per year for over P450,000.
SSS said interested members and pensioners can apply for the calamity loan and three-month advance pension from August 16 until November 15 this year while the Direct House Repair and/or Improvement Loan will be open for a year from Aug. 16, 2019 until Aug. 16, 2020.