Pension funds assist members

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    Pension funds are offering assistance to members affected by the recent typhoons.

    The Social Security System (SSS) will open a calamity assistance package for its members and pensioners in areas declared by the National Disaster Risk Reduction and Management Council as under state of calamity due to super typhoon Rolly, typhoon Quinta and typhoon Ulysses.

    Th package will include the Calamity Loan Assistance Program (CLAP), Three-month Advance Pension for SS and Employees’ Compensation pensioners and Direct House Repair and Improvement Loan.

    Applications for the CLAP and Three-month Advance Pension will be open from November 27, until Feb. 26, 2021.

    The Direct House Repair and Improvement Loan meanwhile will be open for one year from the issuance of its corresponding circular, the pension fund said.

    Guidelines will be released soon.

    The Government Service Insurance System (GSIS) meanwhile has opened its emergency loan program to members and pensioners affected by  typhoons that hit the country since October this year, the pension fund said.

    Rolando Macasaet, GSIS president and general manager, said in a statement over the weekend  members and pensioners may borrow P20,000 under the GSIS Emergency Loan Program.

    “The loan is payable in 36 equal monthly instalments at only six percent interest rate,” Macasaet said.

    The pension fund said qualified to apply are members who are in active service and not on leave of absence without pay; have no pending administrative or criminal case; and have a net take-home pay of not lower than P5,000 after all required monthly obligations have been deducted.