If you are interested in understanding more about the SSS calamity loan for 2024, here are some key points to consider:
1. Is the SSS Calamity Loan for 2024 Available Now?
Yes, the SSS calamity loan for 2024 is currently available. There are two specific loans open to affected members:
- The calamity loan for those impacted by Typhoon Carina.
- The calamity loan for those affected by the recent magnitude 7.4 earthquake in Taiwan.
Please note that the deadline to apply for the SSS calamity loan is within three months from the SSS announcement date. Ensure you submit your application within this period to be eligible.
2. What is the Difference Between the SSS Salary Loan and the Calamity Loan?
The primary difference between the SSS salary loan and the calamity loan lies in their purposes:
- Calamity Loan: This loan is specifically designed for members affected by disasters. Therefore, only members residing in calamity-stricken areas qualify for this loan.
- Salary Loan: This loan is available to any SSS member who needs short-term financial assistance, regardless of whether there is a disaster or not.
The amount for a one-month salary loan is equivalent to the average of the last 12 Monthly Salary Credits (MSCs), rounded up to the nearest thousand, or the amount applied for, whichever is lower. Members can also avail of a two-month salary loan, which is twice the average of the last 12 MSCs, rounded to the next higher MSC, or the amount applied for, whichever is lower.
Both the calamity loan and the salary loan have an interest rate of 10% per annum until fully paid, with an amortization period of 24 months.
3. What is the SSS Calamity Loan Processing Time?
The SSS typically processes calamity loan applications within three to five days. It is advisable to keep your contact lines open to receive prompt updates regarding your loan status.
4. Will the SSS Calamity Loan Be Deducted from My Existing Salary Loan?
Yes, any outstanding balance from your existing salary loan will be deducted from the proceeds of your new calamity loan.
5. What is the Three-Month Advance Pension?
The Three-Month Advance Pension is another form of calamity assistance provided under the SSS Calamity Assistance Program (CAP). This program is intended for Social Security (SS) and Employees’ Compensation (EC) pensioners living in areas affected by the calamity. The amount disbursed is based on the monthly pension of the member.
6. How to Apply for the Three-Month Advance Pension?
To apply for the Three-Month Advance Pension, pensioners need to submit a fully completed application form (Application for Assistance Due to Calamity/Disaster) to any SSS branch office. The form should be certified by the Barangay Chairman. If the form is not certified, you must provide a certification from the Department of Social Welfare and Development (DSWD) or the National Disaster Risk Reduction and Management Council (NDRRMC) confirming you are affected by the calamity.
Once approved, you can claim the check containing the proceeds from the SSS branch where you filed your application.
By understanding these details, you can better navigate the process of applying for and utilizing the SSS calamity loan and other related assistance programs.
