SSS lowers calamity loan interest rate to 7%, speeds up activation process

The Social Security System (SSS) has issued revised guidelines for calamity loans, reducing the interest rate to 7 percent from 10 percent and streamlining activation processes to assist members affected by natural disasters.

President Ferdinand Marcos Jr.'s announcement on May 1, 2025, prompted SSS to lower the annual interest rate for qualified applicants with good credit standing or no penalties within the last five years.

The revised guidelines also streamline the activation process of the Calamity Loan Program (CLP) from one month to seven working days after a state of calamity is declared, allowing immediate financial assistance.

SSS Branch Operations Sector and International Operations Group units will endorse declarations within two calendar days to expedite the program's implementation.

Robert Joseph De Claro, SSS President and CEO, stated that these revised guidelines aim to make calamity loans more accessible for members in need, providing emergency financial relief under liberalized terms.

The state pension fund is earmarking approximately P20 billion for the CLP this year, with nearly P10 billion disbursed in 2024 to over 560,000 affected members.