Typhoon Odette, which brought total devastation in several areas in the provinces of Luzon, Visayas and Mindanao a week before Christmas, is really heartbreaking as a number of people have completely lost their homes and properties and even resulted to fatalities.
During this season, as in the previous years when calamities strike, SSS is always there to lend a helping hand to our kababayan, especially to our members and pensioners who were greatly affected by such massive destruction.
SSS will start offering its Calamity Assistance Package to members and pensioners affected by Typhoon Odette starting January 14, 2022, which will run until April 13, 2022. This program includes the Calamity Loan Assistance Program (CLAP), Three-Month Advance Pension for SS and EC Pensioners, and Direct House Repair and/or Improvement Loan for members who are residing in the areas affected by Typhoon Odette (MIMAPORA, Western Visayas, Central Visayas, Eastern Visayas, Northern Mindanao and CARAGA) as declared by the National Disaster Risk Reduction and Management Council (NDRRMC).
Calamity Loan Assistance Program
The Calamity Loan Assistance Program (CLAP) is for member-borrowers whose residence is in the areas affected by calamity, and in other areas to be declared under a State of Calamity by NDRRMC and for those who suffered losses or damages to their properties in the said calamity-stricken areas.
To avail of the program, the members:
1. Must be registered in the SSS web site (My.SSS facility) to facilitate filing of online application.
2. Must have at least 36 monthly contributions, six of which should be posted within the last 12 months prior to the month of filing of application.
3. Must be residents of the calamity declared areas and suffered damages/losses to their properties. A resident, for the purpose of CLAP, is one who has a home address or property at the calamity-stricken area.
4. Have not been granted any final benefit, i.e., permanent total disability or retirement.
5. Must not have an outstanding Loan Restructuring Program (LRP) or CLAP.
6. If employed, the employer must certify the CLAP application thru online My.SSS facility.
The loan amount shall be equivalent to one monthly salary credit (MSC) computed based on the average of the last 12 MSCs (rounded up to the nearest thousand) or the amount applied for, whichever is lower.
The payment terms and deadline are as follows:
1. The loan shall be payable within two years in 24 equal monthly installments.
2. The loan amortization shall start on the 2nd month following the date of the approval of the loan.
3. Payment deadline shall be on or before the last day of the month following the applicable month.
4. In case the payment deadline falls on a Saturday, Sunday or holiday, payment may be made on the next working day.
The service fee of 1 percent of loan amount is waived. The loan shall be charged an interest rate of 10 percent per annum until fully paid, computed on a diminishing principal balance, and shall be amortized over a period of 24 months. Pro-rated interest from the date of loan granting up to the end of the month prior to first amortization month shall be deducted from the loan proceeds.
Any excess in the amortization payment shall be applied to the outstanding principal balance of the loan. Amortization not remitted on due date shall bear a penalty of 1 percent per month. A delay of a fraction of a month shall be charged a full month penalty.
Three-month advance pension for SS and EC pensioners
This is available for existing SS retiree, disability and survivor pensioners, and EC disability and survivor pensioners whose residence is located in the calamity areas declared by the NDRRMC.
Eligible for this program are the following:
SS and EC retiree, permanent total disability, and survivor pensioners, who are living in calamity-stricken areas declared by the NDRRMC. SS and EC partial disability pensioners, who are living in calamity-stricken areas declared by the NDRRMC. They may apply for the advance pension for the remaining months of the partial disability pension but not to exceed the three-month period.
SS and EC pensioners who have availed themselves of an advance pension for the previous calamities and whose pensions are still suspended may avail themselves of the three-month advance pension for “Severe Typhoon Odette,” provided that the advance pension will not exceed three months at any time.
SS Retiree pensioners who have no existing loan under the Pension Loan Program (PLP) are qualified to apply for the three-month advance pension. The pensioner shall submit the properly accomplished Application due to Calamity/Disaster duly certified by the Barangay Chairman. In case Part II of the form is not accomplished, the pensioner shall submit a certification from the Department of Social Welfare and Development (DSWD) or NDRRMC that he/she is affected by the calamity.
Member-pensioners may file their Application for Assistance due to Calamity/Disaster starting January 14, 2022 until April 13, 2022 at any SS branches. Monthly pension shall automatically resume after the three-month period.
Direct Repair and/or Improvement Loan
The Direct House Repair and/or Improvement Loan Program is open for SSS members who are currently employed, self-employed, voluntary, and OFW members, whose residence is located in the disaster area and whose house was destroyed/damaged due to Typhoon Odette.
To qualify:
1. Applicant must be an SSS member;
2. Applicant must have a total of at least 24 monthly contributions, three of which are within the last 12-month period prior to the month of filing of the application;
3. Age of applicant is not more than 60 years old at the time of filing of application;
4. Applicant has not been previously granted a House Repair and/or Improvement Loan by the SSS;
5. Applicant has not been granted final SSS benefit nor was refunded SSS contributions; and
6. Applicant and his/her spouse (if applicable) must be up-to-date in the payment of all other existing Ioan/s with the SSS.
The maximum loanable amount is P1 million subject to repricing every five years.
The processing fee shall be waived. Late payments shall be charged a penalty of 1.5 percent of the amount due for every month of delay or a fraction thereof until updated or fully paid.
For loan amount of up to P450,000, interest rate is 8 percent per annum, while for loan amounts over P450,000 up to P1 million, interest rate is 9 percent per annum.
For the payment terms, the amortization period shall be in multiple of five years with a maximum term of 20 years, plus six months moratorium, but shall in no case exceed the economic life of the house/improvement, after repair and/or improvement are introduced, as determined by the SSS, and the difference between the age of the applicant and 65.
There shall be six months moratorium in monthly amortization and interest payments. The loan amortization shall commence on the 7th month and shall be payable in equal monthly amortization during the term of the loan.
The filing of application shall be as follows:
• For applicants in NCR—to be filed at MLD, SSS Main Office.
• For applicants outside NCR—to be filed at Housing and Acquired Asset Management Team/Section, as follows:
- San Pablo in Southern Luzon.
- Cebu in Central Visayas.
- Bacolod in Western Visayas.
- Davao in Southern Mindanao.
- Cagayan de Oro in Northern Mindanao.
- Zamboanga in Western Mindanao.
SSS will offer the CLAP for its members and the Three-month Advance Pension to its pensioners until April 13, 2022, while the Direct House Repair and Improvement Loan will be open to qualified members for one year until October 13, 2022.
The Philippines is prone to typhoons, earthquakes, and other natural calamities due to our geographical location. When disaster strikes and leaves the country devastated, we unite as one and offer any assistance we can extend. Whatever these may bring into our lives, we Filipinos will always rise from the trauma of such difficulties.
Stay healthy and safe!
Aurora C. Ignacio is SSS president and chief executive officer.
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