SSS to introduce calamity loan for OFW members

Manila Bulletin

SSS is ready to support its OFW members affected by the Taiwan earthquake with the incoming Calamity Loan. Pension Fund President and Chief Executive Officer Rolando Ledesma Macasaet said that the loan guidelines will be announced on Monday.  READ: https://mb.com.ph/2024/4/4/sss-to-introduce-calamity-loan-for-ofw-members  Subscribe to the Manila Bulletin Online channel! - https://www.youtube.com/TheManilaBulletin  Visit our website at http://mb.com.ph Facebook: https://www.facebook.com/manilabulletin  Twitter: https://www.twitter.com/manila_bulletin Instagram: https://instagram.com/manilabulletin Tiktok: https://www.tiktok.com/@manilabulletin  #ManilaBulletinOnline #ManilaBulletin #LatestNews

Transcript

00:00 "What's the magnitude of the 7.2 magnitude in Taiwan?"

00:04 "You know, this is the first time calamity will occur. Because calamity launch of the SSS is only for the calamity in the Philippines.

00:12 That's why I told my colleagues in the SSS that we need to help our on-damages.

00:18 Because we have a lot of SSS members that are abroad. I really want to help them.

00:24 I understand that there are about 10,000 Filipinos working in Taiwan and we have a lot of them.

00:31 So for the first time, we will give calamity loan up to Php 20,000.

00:37 But I will remind you that I will release the guidelines, the latest one, on Monday.

00:47 I will release the guidelines and all of this will be applied online.

00:54 They will register their accounts here in the Philippines.

00:59 I'm sure all our OFWs have a bank here in the Philippines.

01:04 We will release the money here in the Philippines.

01:09 Because we cannot send the money to Taiwan. It will be more expensive.

01:18 Because they are already withdrawing from Taiwan by the way, using their ATM cards there.

01:25 But I will remind you that this is not a dole out.

01:34 We will encourage them when the time comes, when they settle down.

01:39 In the meantime, this loan is not the only thing we will give to the Filipinos.

01:47 Even if we don't know this, all OFWs, all SSS members worldwide, have Filipinos.

01:56 Like their relatives, if they have a death, funeral benefits, if they lost their job, unemployment insurance.

02:06 They have a lot of benefits in SSS.

02:09 That's why we encourage them to become a member.

02:12 They will also pay a premium.

02:16 So what they will do, we have a lot of collection agents in Taiwan.

02:22 Actually, probably there are about 5 collection agents in Taiwan.

02:27 The way they remit to us their payments for their premium,

02:32 that's how they remit their payments for their loans.

02:37 So it's easy. When I release the guidelines on Monday, they will see it there.

02:43 Thank you.

02:44 You're welcome.

02:45 [end]

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