The Social Security System (SSS) announced today, June 13, 2024, that Filipinos working in Taiwan who were affected by the recent 7.4 magnitude earthquake can now apply for a calamity loan until August 20, 2024.
This SSS Calamity Loan Assistance Program (CLAP) is a first for the agency, extending financial aid to members residing or working outside the Philippines during a calamity.
"This program proves our commitment to assisting our members wherever they may be," said SSS President and CEO Rolando Ledesma Macasaet.
How to Apply:
- Apply online via My.SSS account (www.sss.gov.ph) between May 21 and August 20, 2024.
- Secure a Calamity Loan Reference Number (CLRN) from the SSS Taiwan Foreign Office in Neihu District, Taipei City before applying.
Eligibility:
- Must be an SSS member with an active My.SSS account.
- Have at least 36 monthly contributions, with 6 contributions within the past year.
- Be an Overseas Filipino Worker (OFW) SSS member.
- Were living, residing, or working in Taiwan during the earthquake.
- Be 65 years old or below upon application.
- Have no availed final benefits like permanent disability or retirement.
- Have no outstanding SSS short-term member loans or restructured loans.
Loan Details:
- Borrow up to one month's salary credit or a maximum of P20,000.
- Repayable in 2 years (24 equal monthly installments) with a 10% annual interest rate.
- One percent service fee waived.
- Loan proceeds credited to UMID-ATM Card or a PESONet participating bank account.
Loan Repayment:
- First amortization starts two months after loan approval. (e.g., May 22, 2024 approval means July 2024 first payment)
- Payment deadline is the last day of the month. Late payments incur a 1% monthly penalty.
For more information, visit your nearest SSS branch or contact their hotline.