SSS Retirement Loan Renewal Applications Available Online
SSS President and CEO Aurora Ignacio said the online function for PLP has been added to said portal since September 2020 to provide an easier and safer channel for SSS retirees to benefit from the program. ready.
The SSS disbursed 787.27 million pesos in retirement loans to 17,585 retirees-pensioners from January to March, which represents a decrease of 43.8% and 44.1%, respectively. During the same period in 2020, PLP releases amounted to 1.4 billion pesos for 31,467 borrowers retiree-retirees.
“We have been working on developing an online channel for such pension loan applications. In September 2020, we started the initial implementation of this online service on our My.SSS member portal. At present, however, new retirees benefiting from the loan program must still submit their applications through our branches following the applicable service guidelines, ”she added.
SSS retiree-pensioners who meet the program eligibility requirements are qualified to use the PLP’s online application method. These include: Must be 85 years of age or younger at the end of the month of the loan term; no deduction (outstanding loan balance, overpayment of benefits, etc.) from their monthly pension and existing early pension under the SSS Calamity Assistance Package; Holds a unified multipurpose identification card registered as an ATM card or Union Bank of the Philippines Quick Card as disbursement accounts; and Receives a regular monthly pension for at least one month, and the pension status is “Active”. Excluded from the PLP are retirees-pensioners under the portability law and those under the care and custody of a guardian.
In addition, applicants who would use the online method must have a My.SSS account on the SSS website (www.sss.gov.ph) and a current and active mobile phone number registered with the SSS.