ACTIVE members of the Social Security System (SSS) who are victims of the earthquake in 2019 are encouraged to avail themselves of the P443 million worth Calamity Assistance Package.
SSS-Davao account officer and public information officer Greta Fe Quayle said the pension fund had started offering calamity loan and Direct House Repair and Improvement Loan for members, and advance three-month pension for pensioners since November 18, 2019.
Quayle said qualified members and pensioners are from earthquake-stricken areas, namely, the provinces of Davao del Sur and North Cotabato, Kidapawan City, and the municipalities of Bansalan and Matanao in Davao del Sur, and the municipalities of Makilala and Tulunan in Cotabato.
She said an estimated 54,000 members from these areas are qualified to avail themselves of the loan.
Qualified members and pensioners are those with home address or property in earthquake-stricken areas declared by the National Disaster Risk Reduction and Management Council under the state of calamity brought by the series of magnitude 6 earthquakes that struck the Southern part of Mindanao in October 2019.
Davao City is exempted, the official said, because the city had only incurred minor damage.
"Our basis is on the damage suffered by the area. The damage here in Davao City is not that big, as compared to other areas," Quayle said.
Qualified members must seek barangay certification stating the level of damage in their houses.
To avail of the calamity loan, Quayle said a member should have at least 36 monthly contributions, six of which should be paid within the 12-month period before the date of application. The loanable amount is equivalent to one month salary credit (MSC). This is computed based on the average of the last 12 MSC or the total amount of damage as certified by the member in the application form.
She added that the calamity loan is payable in two years in equal monthly installments with an annual interest rate of 10 percent and one percent monthly penalty for late payments.