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The Covid-19 pandemic continues to wreak havoc not only on the health and well-being of people, but more so on their economic and financial stability.
Several companies have decided to downsize their work force while others made the hardest decision to declare permanent closure. Meanwhile, other business sectors such as real estate, manufacturing, transportation, tourism, hospitality, among others, are not yet fully operational in compliance with the Inter-Agency Task Force guidelines. As a result, more Filipino workers across the country have gone jobless amid this global health crisis.
The national and local governments have extended financial aid especially to the poorest of the poor, senior citizens, persons with disabilities, single parents, including the workers from small and large businesses, and self-employed individuals. However, the real-life situation shows that government subsidies may not be sufficient for some who have large numbers of immediate family members, or even extended family members that they need to feed. There are other financial obligations—monthly rents, utilities, and even debts to settle. Another sad truth is that some of our kababayans didn’t receive government subsidies. We’ve seen these stories on quadmedia and it’s definitely not humane to turn a blind eye and do nothing.
The Social Security System (SSS) has now made available its Calamity Loan Assistance Program (CLAP) to help its members overcome the difficulties brought about by the pandemic. Online application started on June 15, 2020, which will run for three months only.
It took some time for SSS to launch the online CLAP application as its web site and information technology resources had to prioritize the implementation of the Small Business Wage Subsidy Program of the national government. Now that the SBWS is nearing completion, the SSS has launched the CLAP to give further aid to its members.
All SSS members who have a recorded Philippine residence or office address may apply for the CLAP. To qualify, the members must be registered in the My.SSS facility in the SSS web site as only online applications will be accepted. They must have at least 36 monthly contributions, six of which should be posted within the last 12 months before the month of application. They should not have been granted any final benefit like total permanent disability or retirement, and must not have an outstanding loan under the Loan Restructuring Program (LRP) or any previous CLAP.
The loan amount shall be the average of the last 12 monthly salary credit—rounded up to the nearest thousand—or the amount applied for, whichever is lower.
Considering the current economic difficulties, the loan amortization period has been extended from 24 months to 27 months, inclusive of the three months moratorium period. That means the member shall start paying only on the fourth month following the date of the approval of the loan. Deadline for the payment shall be on or before the last day of the month following the applicable month.
The interest rate has been lowered to 6 percent per annum, instead of the usual 10 percent for regular salary loans. No advanced interest shall be charged, but a service fee of 1 percent of the loan amount shall be deducted from the proceeds of the loan. Any excess payment for the amortization shall be applied to the outstanding principal balance.
As SSS aims to distribute its finite resources equitably, members who avail themselves of the CLAP will not be allowed to apply for future calamity loans until the CLAP is fully paid.
Finally, members need to keep in mind that loans have to be repaid as agreed upon.
Let us all continue praying until this pandemic is over.
Aurora C. Ignacio is SSS president and chief executive officer.
We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss.gov.ph for topics that you might want us to discuss.
13 comments
finacial assistant for the ofw seaferare member of sss
can get finnacial assistant for the ofw seaferare member of sss
Can an asymptomatic covid 19 positive claim for sickness benefits from SSS?
Aside from(CLAP) is there any other assistance can give from sss to the member.
Please clarify if the asymptomatic covid patient,unemployed can claim sss sickness benefit. If the,,how?
My husband is an ofw and Sss member his flight was cancelled because swab test result is asyntomatic(no symptoms) and he undergo 14days quarrantine,,Is there any assistance or benefits in this kind of situation?? We should book another flight and another expences again..
I was admitted last Feb. 2 2021 because I was diagnose with Covid 19. Feb 7,2021 i was being discharge and undergo quarantine until February 19,2021 and February 21 I also started my work again. I am a health care worker and a Medical technologist in one of the private hospital in General Santos City but I have no idea about this benefits even before. I am member of SSS. And I’m asking if I can still get assistance? Thank you so much.
I am affected covid 19 pandemic due to no schedule for vessel crew change. My question is can i avail sss financial assistance? I am sss member for almost 25 years
I’m asking if there is an assistance for the seafarer’s sss member who’s affected and diagnosed of (asymptomatic) covid 19.?
can i get the covid sickness benefits at sss.i been hospitalized from march 14 to 25 for covid and at the same time high blood pressure.and now im still on quarantine at home.can i file for covid at sss?
Just wanna know if my husband is qualified for sss sicleave he is asymptomatic for covid 19 start on march 29 2021 until now he is detected for covid 19 virus any benifits he will recieve from sss
I dont have work i am member of sss how sss help me about financial because of covid 19 .can sss help me for about financial asest.
I was hospitalized for 15 days, fr.aug. 3 to 18 this yr. I am working in a prvt.firm and sss member. Is there any sss assistance may i get being sss member.