Friday Dec, 13 2019 04:38:16 PM

Quake victims may apply for calamity loans starting Nov. 18

Breaking News • 16:00 PM Sun Nov 17, 2019
249
By: 
Edwin O. Fernandez

KIDAPAWAN CITY  —  The Social Security System (SSS) today announced that Mindanao quake victims can now start applying for calamity loan on Nov. 18.

An estimated 54,000 SSS members living in areas in Mindanao affected by recent quakes that rofcked the islands can avail part of the P443 million in calamity loan assistance package, according to  

SSS president and chief executive Aurora C. Ignacio.

Ignacio said starting Monday, Nov. 18, the state-run pension fund will begin accepting applications for calamity loan, advance three-month pension, and direct house repair and improvement loan.

In its Nov. 8 circular, SSS members and pensioners in the following areas earlier placed under state of calamity by the National Disaster Risk Reduction and Management Council (NDRRMC) will be qualified: municipalities of Bansalan and Matanao in Davao del Sur province; and Kidapawan City, and municipalities of Makilala and Tulunan in North Cotabato.

To avail of calamity loan, members must have a minimum of 36 monthly contributions, of which six months’ worth were paid within a one-year period before the application, the SSS said.

“Loanable amount is equivalent to one month salary credit (MSC) which is computed based on the average of the last 12 MSC or the total amount of damages as certified by the member in the application form, rounded up to the nearest thousand, whichever is lower,” it added.

The security agency also stated that SSS members who are overseas Filipino workers (OFWs) and seafarers are qualified for the calamity loan assistance as long as they had residence in the quake-stricken areas.

“Authorization letter should be issued to their [OFWs and seafarers’] authorized representatives to apply for the calamity loan assistance package on their behalf. Member-applicants should also submit a barangay certification as proof that they are residents of the declared calamity area,” the SSS official said.

SSS members who are quake victims may visit the nearest SSS office for additional information. 

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