With the Philippines placed under a state of national calamity after a series of destructive typhoons, the Social Security System (SSS) is set to roll out an emergency lending window for eligible members beginning this December, President Ferdinand “Bongbong” Marcos Jr. announced on Thursday.
The program, which includes a six-month payment moratorium, is designed to provide short-term financial relief to contributors affected by the nationwide disaster declaration. Under the scheme, qualified members may access the facility at a reduced interest rate, as confirmed by the President in a recorded message.
“Simula itong Disyembre na ito ay makakapagbigay na ang SSS ng tinatawag na emergency loan,” Marcos said.
“Ito ay isang pautang na ang bayad, 7% lang,” he added.
The emergency loan is tied specifically to the declaration of a state of national calamity and differs from area-based calamity loans activated only for specific localities. SSS rules require applicants to meet contribution thresholds and maintain updated personal and disbursement details in their records. Loan applications are filed online through the My.SSS portal or the SSS mobile app, with proceeds released through enrolled bank or UMID ATM accounts.
Repayment is structured over a longer term, beginning only after the six-month grace period, allowing borrowers additional time to recover before monthly amortizations begin. The loan amount is computed based on a member’s recent posted salary credits, subject to SSS limits and existing loan balances.
