SSS approves calamity relief for members in CDO, Iligan

The Social Security System (SSS) will allow its members in ‘Sendong’-devastated cities of Cagayan de Oro and Iligan to suspend their loan payments for six months without penalties as part of a package of calamity relief announced Thursday. There are about 122,000 SSS salary loan borrowers situated in Cagayan de Oro and Iligan. SSS president and chief executive officer Emilio S. De Quiros Jr. said SSS members with current salary loans could, instead of the six-month payments suspension, avail of an early renewal of their salary loans. The balance of their existing loan will be deducted from the proceeds of their renewal loan.   “Our priority areas are Cagayan de Oro and Iligan, which were the hardest hit by Sendong. Fortunately, our SSS offices there sustained only minimal typhoon damage and our employees will be ready to service our members in their time of great need,” de Quiros said.   The SSS will also automatically advance three months’ worth pensions (February to April 2012) for SSS pensioners in the two cities. The pension deposits will be credited to the pensioners’ bank accounts by January 2012. The SSS has 43,802 pensioners in the Northern Mindanao region. “Pensioners in other affected areas may apply for advanced pension and present a certification from the Barangay Chairman that they are residents of the calamity-stricken area,” the SSS said.   The SSS has about 1.6 million registered members in Northern Mindanao and has 845 housing loan accounts and 48 acquired asset accounts located in the calamity-stricken areas.  — ELR/KG, GMA News