QUEZON CITY, Philippines – The Social Security System (SSS) has activated its Calamity Loan Program (CLP) for members affected by the powerful earthquakes that struck Davao Oriental last week, offering financial assistance to help them recover from the disaster.
Starting October 16, qualified members residing or working in quake-hit areas can apply for loans of up to ₱20,000 at a reduced interest rate of 7% per annum, SSS President and CEO Robert Joseph Montes De Claro announced.
The program was launched following the National Disaster Risk Reduction and Management Council’s (NDRRMC) declaration of a State of Calamity in all 11 cities and municipalities of Davao Oriental due to the magnitude 7.4 and 6.8 earthquakes that hit the province on October 10.
“We at the SSS are deeply committed to supporting our members in Davao Oriental. We understand the challenges they face after the earthquake, and we are here to provide timely assistance to help them recover,” said De Claro.
Eligible members must have at least 36 monthly contributions, with six posted within the last 12 months before application, an active My.SSS account, and no past due or restructured loans. Applications can be filed online, and approved loans will be credited directly to the member’s registered bank account.
De Claro also reminded employers to ensure that SSS contributions and loan remittances of their employees are up to date to enable them to qualify for assistance.
He further noted that aside from the calamity loan, the Pension Loan Program (PLP) was recently enhanced, allowing retirement pensioners to borrow up to ₱300,000 and survivor pensioners up to ₱150,000.
The NDRRMC reported that the recent quakes affected over 200,000 families and displaced nearly 13,000 individuals in Davao Oriental.
Under the revised guidelines released earlier this year, the SSS can now activate its CLP within seven working days after a calamity, ensuring faster and more efficient financial aid for affected members.
De Claro reaffirmed the agency’s commitment to its members, saying, “SSS remains a reliable partner of Filipino workers, helping them rebuild their lives in the aftermath of disasters.” (Latigo Reportorial Team)
