mit 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.
