SSS offers calamity loan, early pension release for Paeng victims

The Social Security System (SSS) is providing a credit line to members and pensioners who have been hit hard by severe tropical storm Paeng.

The state pension firm for the private sector said members living in areas declared under a state of calamity due to the typhoon can avail of a calamity loan or early release of benefits.

A contributing member may avail of a calamity loan worth up to P20,000 payable in 24 months, while a pensioner may advance their up to three months’ worth of benefits.

President Ferdinand Marcos Jr. has placed the regions of Calabarzon, Bicol), Western Visayas, and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) under state of calamity. Other local government units have placed their respective jurisdictions under a state of calamity as well to allow them to tap disaster response funds immediately.