SSS sets aside P2.18 billion in loans, advance pension for ‘Odette’ victims

SSS sets aside P2.18 billion in loans, advance pension for
Written by Publishing Team

The social security system sets aside 2.18 billion pesos in loans and pensions for victims

SSS head office in Quezon City (file photo from the Philippines Daily Inquirer)

Manila, Philippines – The state-run Social Security System (SSS) Pension Fund committed 2.1 billion pesos to help members and retirees in the six regions hit by Hurricane Odette (international name: Ray) last month.

In a statement on Monday, the Social Security System said it expects up to 2,36,509 active and retired private members to arrive to benefit from the three types of assistance for Odette victims as of Friday, January 14.

Mimaropa, Western Visayas, Central Visayas, Eastern Visayas, Northern Mindanao and Karaja regions have been placed in a state of disaster for a period of one year since December 21, 2021. As such, members and retirees in these regions can benefit from the disaster assistance package that will be rolled out by the SSS this week.

“It is unfortunate that the recent hurricane affected the daily lives and livelihoods of our members and retirees in these many areas. Through the SSS Disaster Assistance Package, we can provide financial assistance to our members and retirees as they attempt to recover from the effects of Hurricane Odette,” said SSS President and CEO Aurora Cruz-Ignacio.

As the Enquirer reported last month, the three-month Disaster Loan and Pension Assistance Program for Social Security and employee compensation will be introduced over a three-month period, or until April 13.

Meanwhile, the Direct Home Repair and Improvement Loan will be available for a period of one year, or until January 13, 2023.

Applications can be submitted online through the SSS website. SSS will waive the application fee.

SSS offices such as head office in Quezon City and regional offices in Bacolod City, Cagayan de Oro, Cebu City, Davao City, San Pablo City and Zamboanga City will accommodate interested applicants.

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