Calamity loans from Social Security System. Pensioners and active members eligible: Dooc.

Calamity loans to help out.

PICS: Freeimages.com ans SSS website.

PICS: Freeimages.com ans SSS website.

* * * * * * * * * * * * * * * * * * * * *
The annihilation of Marawi City and its neighborhood is total; almost all the structures have suffered extensive damage. Eyewitnesses state that we will need a massive rehabilitation effort to resettle displaced residents.

To mitigate some of the suffering the Social Security System announced a relief package of P 74 million on Wednesday. The package will provide for calamity loans of members and pensioners in the cities of Marawi and Ormoc.

Emmanuel F. Dooc, President and Chief Executive of Social Security System explained the method of disbursement. All eligible members and pensioners can avail the loans immediately.
Active members of the system will only qualify up to P 16,000 under the Calamity Loan Assistance Program (CLAP). So also, will all the current pensioners.

However, the amount that they may receive will depend on their average monthly emoluments, Dooc clarified.
Moreover, these calamity loans are not connected to routine loans taken from salaries or pensions. The calamity loans are a separate loan contingent on calamity that citizens underwent.

Furthermore, Dooc clarified that existing borrowers who were in the process of repayment of loans taken earlier, are also eligible under the terms of these calamity loans.

Ormoc has about 5600 members that qualify under the rules for disbursement.
However, Marawi only has a few more than 1800 eligible members.

* * * * * * * * * * * * * * * * * * * * *
Umrao Singh
umraoz.wordpress.com
Written for: Lars-Magnus Carlsson.
www.thephilippinepride.com
Thursday, August 03, 2017

Comments

comments