SSS releases P490-M loans to typhoon-hit members
MANILA - State-run pension fund manager Social Security System (SSS) announced Wednesday that it has released almost half a billion in salary loans of members affected by storms "Ondoy" and "Pepeng" (international code names Ketsana and Parma, respectively).
SSS spokesman Joel Palacios said some 27,717 checks with an average amount of P18,000 would be released directly to claimants at its main office in Quezon City, for a total of P490.58 million.
Palacios advised registered users to verify the availability of their checks through the SSS website.
"We expect thousands more would be approved in the coming days," he said in a statement.
The pension fund manager has implemented a Salary Loan Early Retirement Program (SLERP) to help members cope with difficulties caused by the 2 consecutive storms. The agency added that it has also set up a special assistance center in its main office to help claimants.
"SLERP checks that are unclaimed after 3 days would be sent through registered mail," Palacios said.
SSS grants up to P24,000 in salary loans, which are payable in 2 years. The state-run pension fund manager said it has stepped up the processing of salary loans to accommodate more applications, which mostly come from Rizal province and the National Capital Region.
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SSS help for its PENSIONERS
My brother, a SSS pensioner, was also affected by typhoon Ondoy! He lives in Cainta. Like many, his house was completely submerged by floodwater and destroyed his only car. He his a senior citizen and is no lomger an active member of the PagIbig fund! He has no other financial institution to run to except the SSS!
But unfortunately, financial assistance of SSS is limited to "active and employed" Ondoy victims/members! Can SSS also provide help to its member pensioners? Most of these pensioners gave SSS at least a 20 year period of active and productive membership! To earn a pension, they must have contributed a significant amount to SSS! Maybe, SSS should look at the "plight" of their pensioners specially those residing in the eastern Metro Manila area!
Calling Mr. Romulo Neri! How about a little compassion for your SSS pensioners who were also victims of the flood calamity!!!