The Social Security System (SSS) marked the start of the celebration for its 64th founding anniversary with the conduct of the first virtual Pensioners’ Day, benefiting over 2,000 pensioners nationwide. This was held in its 176 branches nationwide last August 25, 2021.
SSS president and chief executive officer Aurora Ignacio emphasized that the annual activity aims to recognize the valuable contribution of its pensioners during their productive years.
“We are grateful that many of our pensioners’ participated and enjoyed the activities. Although it was done virtually following various community quarantine protocols, SSS was able to provide its pensioners with meaningful service as we have done in previous Pensioners’ Day celebrations,” Ignacio said.
During the virtual gathering, SSS gave a brief discussion about the enhanced Pension Loan Program (PLP). SSS executive vice president for investments sector Rizaldy Capulong explained that the enhanced PLP was designed to meet the short-term financial needs of SSS retirement pensioners through an affordable loan program.
Launched in September 2018, PLP aims to provide immediate financial assistance to retirement pensioners who need financial assistance aside from their basic monthly pension (BMP). Under the program, qualified retirement pensioners can borrow up to PHP200,000, depending on the amount of their monthly pension. They can pay the pension loan in six, 12, or 24 months with a 10% interest rate per annum.
“We simplified the PLP application process to make it more convenient for all retirement pensioners. We also allowed them a higher loanable amount with longer payment terms while incurring a low-interest rate. This is to further encourage them to avail of the PLP instead of going to loan sharks that charge high-interest rates and uses their ATM cards as collateral,” Ignacio explained.
The Pensioners’ Day also featured a discussion about the health and wellness of pensioners since they are among the most vulnerable to COVID-19. Dr. Cheridine Oro Josef of the United Bayanihan Foundation, Inc. talked about the importance of vaccination for senior citizens because the immune system decrease as people gets older.
Moreover, pensioners were briefed on how to use various online platforms for their transactions, including the step-by-step guide on registering with My.SSS, how to access their personal records and SSS information using the said portal.
Ignacio took the opportunity to thank the pensioners for always supporting and believing in SSS. “We are thankful that our members and pensioners stood by us in these challenging times. SSS will always be its most reliable partner in life through meaningful benefits and various loan programs that they can turn to in times of contingencies,” she concluded.
For more information about the PLP and other programs, follow the SSS on Facebook and YouTube at “Philippine Social Security System,” Instagram at “mysssph,” and Twitter at “PHLSSS,” or join its Viber Community at “MYSSSPH Updates.”