SSS releases over P18-M to ZamboSur pensioners

By Gideon C. Corgue

PAGADIAN CITY, January 3--- About P18.32 million has been released by the Social Security System (SSS), Pagadian branch of the Pension Loan Program (PLP) to 497 senior citizens in Pagadian City and Zamboanga del Sur.

In a recent media forum, Edwin Remoto, the branch head, announced that several SSS members who are 80 years old and below, have availed of the PLP in their office from January to October 2023.


“These pension loans have helped the retirees meet their daily expenses, alleviate financial concerns and provide them funds for business, and other projects,” Remoto said.

Remoto added that the total number of loan applicants who have availed of the PLP are only based on their record as of October 2023.

He further said that with the implementation of the online application, it will be difficult for them to monitor the number of applicants and the total amount availed by the applicants because they can no longer read the data base.

"The data we obtained is based on the loan applicants who personally submitted their application to our office. I believe that we could have monitored more loan applicants who availed if we could have read the data base from the central office," Remoto explained.

The SSS branch head added that even the record of those who have availed of the death benefit and funeral program, still cannot be monitored by their local branch because the application processing of the said loan program is online.

Remoto added that the PLP aims to help senior citizens that they no longer resort to lending institutions where the interest rate is high. Under the program, the interest rate is only 10% per annum, or the charge is .83% per month and will be deducted from the pensioner's principal balance.

"In the pension loan program, the agency will not take the cash card/UMID card of senior citizens compared to lending institutions. Besides, the processing of their application will only take five (5) days," Remoto concluded.

The SSS pensioners can apply for a loan online or at any SSS branch nationwide. (jcc/The Pagadian Times)

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