The Social Security System (SSS) said it will extend financial assistance to its members and pensioners in areas affected by severe tropical storm “Paeng” from Nov. 17, 2022 to Feb. 16, 2023.
Michael Regino, SSS president and chief executive officer, said the SSS Calamity Assistance Package consists of the Calamity Loan Assistance Program (CLAP) for its members and the three-month advance pension for SSS and Employees’ Compensation (EC) pensioners.
Regino said members and pensioners in the areas to be declared under state of calamity by the National Disaster Risk Reduction and Management Council, or the Sangguniang Bayan, Panglungsod or Panlalawigan can avail of the financial assistance.
Under the CLAP, qualified members in Paeng-affected areas can borrow a loan equivalent to their one monthly salary credit or up to P20,000. The calamity loan is payable in two years or 24 equal monthly installments with an annual interest rate of 10 percent.
The SSS will provide financial aid to SSS and EC pensioners in typhoon-hit areas.
“Pensioners may avail of the three-month advance pension wherein SSS pensioners will be given three months advance of their total monthly pension,” Regino said.
“We want to help our members and pensioners during these difficult times. We hope that the financial aid that we extended to them will be of big help to rebuild their lives,” he added.
Regino also reminded members and pensioners in areas affected by super typhoon Karding that they still have until January 6, 2023, to avail of the CLAP and three-month advance pension.
