The Social Security System (SSS) today encouraged its pensioners affected by recent tropical cyclones Kristine, Marce, Nika, Ofel, and Pepito to apply at their nearest SSS branch office for a three-month advance pension. Applications will be accepted until 21 December 2024.
SSS Officer-in-Charge Voltaire P. Agas said that the three-month advance pension is a financial assistance given to SSS and Employees’ Compensation (EC) pensioners in towns and cities badly hit by the multiple tropical cyclones that barreled through the country, especially Luzon, in less than a month.
“We have experienced a very unusual event wherein a string of storms swept the country with only several days apart, bringing massive destruction to areas within its path. At SSS, we are aware that among those affected by the storms are our pensioners who now need immediate help,” Agas remarked.
He said that it is imperative for SSS to extend its full support and assistance not only to SSS members but also to SSS and EC pensioners who need financial aid as they try to recovery from the aftermath of the tropical cyclones.
Pensioners in areas declared under state of calamity by the National Disaster Risk Reduction and Management Council (NDRRMC) can apply for the three-month advance pension.
Areas under state of calamity due to TC Kristine are Dagupan, Bani and Anda in Pangasinan; Ilagan and Roxas in Isabela; Provinces of Cavite, Laguna, Batangas and Quezon; Cardona and Binangonan, Rizal; Puerto Galera, Naujan, Victoria, Pola, Socorro, Pinamalayan, Mansalay, Bulalacao (San Pedro) in Oriental Mindoro; Paluan and Looc in Occidental Mindoro; Provinces of Albay, Camarines Sur, Catanduanes, Camarines Norte, and Sorsogon; Naga City; Cataingan and San Fernando in Masbate; Calbayog, Samar; Jipapad, Arteche, San Policarpio, Oras, Masilog, Dolores, Can-avid, Taft, Sulat, San Julian, Borongan and Mayodolong in Eastern Samar; Magnet, Cotabato; Alfono Lista (Potia), Ifugao; and Quezon City in National Capital Region (NCR).
Meanwhile, Quirino and Mountain Province; Santiago and Cabagan in Isabela; Baggao, Cagayan; Dilasag, Aurora; and Aguinaldo, Ifugao were also declared under state of calamity due to TCs Nika, Ofel, and Pepito.
Pagudpud, Ilocos Norte; including Buguey, Gonzaga, Sanchez-Mira, Aparri, and Claveria in Cagayan were also included in the list of declared calamity areas due to TC Marce.
To avail of this aid, interested pensioners should be:
- Living or residing in the declared calamity area; and
- Have no existing pension loan for SSS retirement pensioners.
Agas noted that SSS and EC pensioners who have received advance pensions from previous calamity assistance program and whose pensions are still suspended can still apply for this advance pension.
“Existing partial disability pensioners can also avail of the advance pension for the remaining months of their partial disability pension or for the three-month period, whichever is lower,” he said.
Interested pensioners must submit the Application for Assistance Due to Calamity/Disaster Form certified by their Barangay Chairman, adding that if the form is not certified by their Barangay Chairman, they can submit the form with a certification from either the Department of Social Welfare and Development (DSWD) or the NDRRMC.
“Pensioners can pick-up the benefit checks at the SSS branch where the application was filed within 10 working days. Otherwise, the check shall be mailed to their registered mailing address,” Agas said.
After the three-month period, the pensioner’s monthly pension will automatically resume on the fourth month.
Pensioners urged to apply for pension loan
Agas noted that SSS retirement pensioners can also borrow under the SSS Pension Loan Program (PLP) equivalent to three, six, nine, or 12 times their monthly pension, inclusive of the P1,000 additional benefit or up to P200,000.
To qualify for the PLP, however, Agas clarified that retirement pensioners should have no existing advance pension under the previous SSS Calamity Assistance Package. Furthermore, the pensioner-borrower must:
- Be 85 years of age or below at the end of the month of the loan repayment term;
- Have no deductions from their monthly pension (such as for outstanding loan balance, benefit overpayment payable to SSS, and the like);
- Be receiving their regular monthly pension for at least one month, and the status of pension is “active”; and
- Have updated contact information (cellular/mobile number, email, and mailing address).
Qualified pensioners can file their loan applications online via My.SSS Portal (www.sss.gov.ph) or they can submit their applications at the nearest SSS branch office.
Once approved, pension loan proceeds would be credited to their nominated bank account or UnionBank quick card, within three working days for online applications and five working days if filed over-the-counter through the SSS branch office.
He explained that the SSS pension loan has a low interest of 10 percent per annum based on the loan’s diminishing principal balance. Their monthly loan amortization would be automatically deducted from their monthly pensions. However, SSS will ensure that the retirement pensioners would still have a Net Take Home of at least 47.25 percent of their monthly pension.
“We offer flexible payment terms for the PLP, ranging from six to 24 months, depending on the loan amount. We hope that the SSS pension loan can help our calamity-stricken pensioners to rebuild their lives after the storms,” Agas concluded. #
