Retiree-pensioners urged to avail of SSS pension loan

Retiree pensioners in the province of Antique can now avail of the new financial assistance program of the Social Security System (SSS).

Phillip M. Lucero, SSS Antique branch manager, said that they are encouraging retirees to avail of the Pension Loan Program (PLP).

“The PLP is aimed at providing financial aid to SSS retiree pensioners by way of low interest loan,” he said.

Lucero said that the PLP is in response to the clamor of pensioners and senior citizens such as the Federation of Senior Citizens Association of the Philippines to provide pension loans for their financial needs.

“So far, there are now 19 retirees from Antique that have applied for the loan,” he said.

The maximum loanable amount is P32,000 with a 10 percent interest per annum.

The amount of P32,000 has been aligned with the existing maximum loanable amount of salary loan for SSS active members.

PLP was piloted in the Visayas particularly in Iloilo last August 15 and in Antique last October.

Those who could qualify are retiree pensioners who are 80 years old or below at the end of the month of the loan term, must have deductions such as outstanding loan balance, benefit overpayment payable to SSS, etc. from his/her monthly pension, must have no existing advance pension under the SSS Calamity Package, must be receiving his/her regular monthly pension for at least six months and status of pension is active.

There are currently 38,864 SSS members in the province of Antique.

No figure is available though as to how many retiree pensioners from the province could avail of the loan.

Meanwhile, graduating students who have already started their micro businesses are encouraged to enroll with the SSS to avail of benefits being enjoyed by the regular members.

Lucero said they may start paying their contribution of only P220 per month which is lower compared to that being paid for by voluntary and self-employed members.

“The voluntary and self-employed members pay P330 per month but for the students they only pay PHP220 per month as their contribution,” he noted.

Lucero said students may just fill up the form at the SSS Antique office in San Jose de Buenavista Dalipe Tradetown and pay their contribution so that they could avail of benefits such as on maternity leave when the female student gets pregnant, disability and sickness and also to avail of loan.PNA/IMT