Official Publication of the Philippine Information Agency Bicol Regional Office, in cooperation with the RIAC-REDIRAS - RDC Bicol

Friday, January 8, 2016

SSS opens calamity relief package for Albay, Sorsogon

By Sally Atento-Altea

LEGAZPI CITY, Jan. 8 (PIA) – Members and pensioners of the Social Security System (SSS) in Albay and Sorsogon can avail the calamity relief package offered for areas declared under state of calamity due to typhoon Nona.

“The SSS has offered its calamity relief package starting January 4 in areas declared under state of calamity due to typhoon Nona. That includes Albay, Sorsogon, Oriental Mindoro, Northern Samar and Romblon,” SSS Legazpi communication officer Jeanette T. Mapa said in the Ugnayan sa Bicol radio program of the Philippine Information Agency (PIA) here.

Mapa said the package will be offered for Masbate once declared under state of calamity by its local government.

The SSS calamity relief package includes early renewal of salary loans, advance disbursement of pensions and preferential terms for house repair and improvement loans.

The first program 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 under regular guidelines.

“As a special consideration, members with existing salary loan who have only paid few monthly amortizations can renew their loans. The one-percent service fee normally charged on SSS salary loans is also waived for borrowers to have higher loan proceeds,” Mapa said.

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.

Pensioners residing in the declared calamity areas can apply for advance three-month pensions.

Mapa said members and pensioners can directly claim their checks from the SSS branch that received their application within one to two weeks.

To help affected SSS members restore their damaged houses due to typhoon Nona, SSS lowered the interest rate for home repair and improvement loan from 9% to 6%.

Under the SSS Direct House Repair and Improvement Loan Program of the calamity package, eligible members can borrow funds of up to P1 million, with payment terms at a maximum of 20 years for locally employed members and 15 years for overseas Filipino workers.

Mapa reminded SSS members who will avail the home repair loan to prepare the certificate of title issued by the Registry of Deeds and latest tax declaration of their property as part of the requirements.

The calamity relief package can be availed until March 31, 2016.(MAL/SAA-PIA5/Albay)

- See more at: http://news.pia.gov.ph/article/view/2571452213714/sss-opens-calamity-relief-package-for-albay-sorsogon#sthash.zJMJ1hId.dpuf

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