SSS opens calamity loan for quake-hit Davao Oriental members

THE Social Security System (SSS) has activated its Calamity Loan Program (CLP) for members in Davao Oriental affected by the two strong earthquakes that struck the province last week.

SSS President and Chief Executive Officer Robert Joseph Montes De Claro said the program aims to provide immediate financial relief to members living or working in quake-hit areas.

“We at the SSS are deeply committed to supporting our members in Davao Oriental,” De Claro said. “We understand the challenges they face after the earthquake, and we are here to provide timely assistance to help them recover from this calamity.”

The National Disaster Risk Reduction and Management Council (NDRRMC) earlier declared a state of calamity in all 11 cities and municipalities of Davao Oriental following the twin tremors.

Qualified members can borrow up to P20,000 at a reduced interest rate of 7 percent per year. Applications may be filed online through the My.SSS portal, and approved loans will be credited directly to the member’s enrolled bank account.

To qualify, applicants must reside or work in an area declared under a state of calamity, have at least 36 monthly contributions (with six paid within the last 12 months), possess an active My.SSS account, and have no overdue or restructured loans.

Members must also be under 65 years old and not disqualified due to fraud. Employers of active members must be updated on their contributions and remittances.

De Claro also reminded members about other available financial assistance programs, including the enhanced Pension Loan Program (PLP).

“The PLP now allows retirement pensioners to borrow up to P300,000, while survivor pensioners can avail of loans up to P150,000,” he said.

He added: “There is a loan facility for both actively contributing members and pensioners.”

The magnitude 7.4 and 6.8 earthquakes struck Davao Oriental on Oct. 10, with the epicenter located near Manay town. According to NDRRMC data, the disasters affected more than 200,000 families and displaced nearly 13,000 individuals.

Under revised guidelines issued earlier this year, the SSS can now activate calamity assistance within seven working days after a disaster declaration.

The new policy also introduced a lower interest rate of 7 percent per annum — down from 10 percent — to help members recover faster from natural disasters.