Davao: State-run Social Security System (SSS) activated on Thursday its calamity loan program for members affected by the two powerful earthquakes in Davao Oriental. In a statement, SSS said qualified members can avail of calamity loans of up to PHP20,000 with a 7 percent interest per annum. Applications can be filed online through their My.SSS account and approved loans will be credited directly to the member's enrolled bank account.

According to Philippines News Agency, to qualify for the calamity loan, members must reside or work in an area declared under State of Calamity; have at least 36 monthly contributions with at least six posted within the last 12 months before filing; have an active My.SSS account; have no past due loans or outstanding restructured loans; have not been granted final benefit; of legal age and under 65 at the time of application; and have not been disqualified due to fraud against the SSS.

'We understand the challenges they face after the earthquake and we are here to provide timely assistance to help them recover from this calamity,' SSS President and Chief Executive Officer Robert Joseph Montes de Claro said. 'The Pension Loan Program was also recently enhanced allowing retirement pensioners to borrow up to PHP300,000 and, now, survivor pensioners can also avail of the PLP and borrow up to PHP150,000. Thus, there is a loan facility for actively contributing members and for retirement or survivor pensioners,' de Claro added.