With the current situation the world is at right now, we have adopted to the new norm. What this means for us is that most transactions are now being done online.
Previously, it’s for processes to become faster. However, that’s not what the case is today. Now, proper safety protocols are being followed in order to ensure the well being of everybody.
Recently, the Social Security System (SSS) has also adopted to the pandemic. They’re now allowing the filing of retirees’ pension loan program (PLP) online.
Calamity and Salary Loans Digitization
If you aren’t aware, about a month ago, the agency also allowed the filing of salary and calamity loans through their website. This time around, they’re letting pension loans to be processed there as well.
As per the SSS’ President and Chief Executive Officer, Aurora Ignacio; claimants can get their fair share online by accessing the E-Services Tab.
The new facility found under the E-Services tab of the My.SSS member portal at www.sss.gov.ph aims to provide retiree-pensioners with a safer, faster, and more convenient means of filing their pension loans.”
Continuous Digitization Efforts of the SSS
And on top of that she added that the ongoing transition of the SSS online will help everyone. We’re now helping the elderly get their pension so they need not to go elsewhere to claim it.
It is in our intent to keep them safe at all times. We’re investing not just in terms of where we are now, but also for the future.
Through the SSS’ continuous digitalization efforts, the PLP was made available online since last Sept. 15, 2020. Qualified retiree-pensioners can easily apply for the program without visiting our branches, which is either difficult or restricted, particularly for senior citizens, because of the Covid-19 (coronavirus disease 2019) situation.”
How is the Retirees’ Pension Loan Online Done?
Now, in case you’re wondering how it’s processed. It’s actually simple. To help you further, below is the guide to assist the processing of the retirees’ pension loan online.
First, you need to go to www.sss.gov.ph and sign up for an account if you still don’t have one.
You only need to know one of the following to register for an SSS online account:
- Your mobile number linked to your SSS profile;
- The UMID Card Number; or
- The Savings/Cash Card Number that you have linked to SSS.
Just fill out all the necessary details; input your active mobile phone and email then you’re good to go!
Sign in using your account now, and once you’re in the next page, you’ll be able to find at the top portion “E-SERVICES.” Hover your mouse and choose the option Apply for Pension Loan.
Choose the amount and term that you’re looking to apply for; then confirm the disbursement account.
Next step is that you have to agree to the terms and conditions. It’s relevant that you take a hint of what it is, then hit on Submit.
That would automatically send all details to SSS.
After you’ve done the process, you will get an email confirmation about the application. It should have the disclosure statement included; which you can go back to for future references.
Processing and crediting of proceeds take approximately five (5) to seven (7) working days from the time the application has been submitted.
Are You Qualified?
How do you know if you are qualified for the pension loan?
To now if you are qualified for the retiree’s pension loan online; you need to attain the following information:
- Must be at least 85 years of age; or below at the end date of his loan term;
- Must neither have an outstanding balance nor an existing advance pension under SSS’ Calamity Loan Package; and
- Should, at the very least, have received 1 month of pension and have their account listed as “active”
That’s everything you need to know if you are looking to apply for the retiree’s pension loan online. Avoid the hassle of going outside. Do it online now!
If you know someone qualified, or if you’re looking for a guide on how you can do so – it’s here! There’s no need for you to go elsewhere, you don’t have to go through the hassle of doing it physically.
Apply for your loan now and never go through the hassle of doing it physically! Keep yourself and others safe, and do it in the best ways you can!