Published March 12, 2021, 1:48 PM
State-run Social Security System (SSS) has released P33.4 billion in calamity loans and unemployment insurance benefits (UIB) last year in support of government efforts to mitigate the economic shock of the COVID-19 pandemic on wage earners.
In a report submitted to Finance Secretary and Social Security Commission Chairman Carlos G. Dominguez III, the pension fund said they released P31.69 billion in calamity loans for 2.12 million member-borrowers, and P1.71 billion in UIB for 136,000 claimants were disbursed in 2020.
Of the total calamity loans, SSS released P30.47 billion in salary loans for 1.28 million members, and extended pension loans totaling P3.4 billion to 74,799 borrowers last year.