The Social Security System (SSS) defended Monday its decision to withhold separation loans from workers who lose their jobs because of the global crisis.

SSS Vice President for Public Affairs Marissu Bugante said the pension fund must consider the best use of the money since there are more than 27 million SSS members. "If we give out loans to those who have no ability to pay, we will be unable to revolve the fund," she said.

She added, however, that SSS is considering giving amnesty to members who had loans before they were retrenched from work.

SSS President Romulo Neri earlier said the pension fund was having a hard time collecting from over five million members whose arrears now exceeded P25 billion.

The Partido ng Manggagawa (PM) earlier demanded Neri's resignation for withholding SSS loans to retrenched workers.

"The SSS should lend funds especially during these times. We are surprised that Neri would withhold the funds considering that ordinary workers own that money," Renato Magtubo of PM said.

Magtubo also questioned the SSS’ plan to lend P12.5 billion for the P300-billion economic stimulus fund.

To this, Bugante explained that the P12.5 billion loan for the stimulus package is part of the investment function of the SSS.

She also said the SSS will offer 2,000 summer jobs as part of its efforts to help the unemployed.

Bugante said interested applicants can go to the local SSS branch offices and inquire about the summer job program.