Social Security System offers emergency loans for storm victims

The Social Security System (SSS) has announced that members affected by Tropical Storm Maymay and the enhanced Southwest Monsoon (Habagat) can access the existing Emergency Loan Program (ELP). The program offers loans of up to P20,000 to help address financial hardships caused by the recent calamities.

Under the program, which has been in effect since May 1, 2026, the required number of monthly contributions has been reduced from 36 to 18, provided the member has at least six posted contributions within the last 12 months. For self-employed, voluntary, non-working spouse, and land-based Overseas Filipino Worker (OFW) members, at least six monthly contributions under their current membership type are required before the month of application.

The loans carry an interest rate as low as 7 percent per annum and are payable over 30 months. To provide relief, SSS is implementing a six-month payment deferral, meaning members are not required to make monthly amortization payments during the first six months after loan approval, and no penalties will be imposed during this period. Regular monthly payments are scheduled to begin in the seventh month.