The Social Security System (SSS) said Aug. 17 that members affected by tropical storm Maymay and the enhanced southwest monsoon (habagat) may avail themselves of the existing Emergency Loan Program (ELP) to help address their financial needs arising from the calamity.
SSS president and chief executive officer Robert Joseph de Claro said the ELP remains available to qualified members nationwide and serves as a readily accessible source of financial assistance for those experiencing financial hardship due to calamities and other emergency situations.
“The ELP is part of SSS’ continuing commitment to provide immediate financial relief to members affected by unforeseen events. Through the ELP, qualified members affected by tropical storm Maymay and the enhanced southwest monsoon may access much-needed financial assistance under more flexible eligibility requirements,” de Claro said in a statement.
Under the ELP, which has been in effect since May 1, 2026, the required number of monthly contributions has been reduced from 36 to 18, provided that the member has at least six posted contributions in the last 12 months,” he added.
He said that self-employed, voluntary, non-working spouse, and land-based overseas Filipino worker (OFW) members must have at least six monthly contributions under their current membership type before the month of loan application.
Other eligibility requirements are as follows: Under 65 years old at the time of loan application, have a valid Philippine home address on SSS records, have an updated contact information in the SSS database, has no past-due emergency, calamity, salary, educational assistance loan, or other short-term or long-term member loans;
Has no outstanding restructured loan, has not been disqualified due to fraud committed against the SSS, not been granted any final benefit like retirement or permanent total disability benefits, and has an active disbursement account enrolled through the Disbursement Account Enrollment Module in the My.SSS Portal.
Qualified members may borrow up to P20,000 at an interest rate of seven percent per annum. The loan is payable over 30 months, inclusive of a six-month moratorium period.
Members are not required to make monthly amortization payments during the first six months from the date of loan approval. No penalties will be imposed during this period, while regular monthly amortization payments will begin in the seventh month, de Claro explained.
He added that members affected by the tropical cyclone may also apply for an SSS salary loan at the same time, subject to the eligibility requirements.
Members may apply online for both the ELP and the salary loan through the My.SSS Portal at www.sss.gov.ph. ||
