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Employment News

Help Sought for Laid-Off Workers

Date Posted: Apr 20, 2009

Are you one of the unfortunate employees who suffered from mass lay-off by your company? The government wants to help you start all over again by helping you via Emergency Loans.

Social Security System (SSS) issued 500 million emergency loans that will serve as help for those workers who lost their jobs due to the forced termination done by most companies. This was one of the programs made by the government to help ease the burden of Filipinos who suffered from lay-offs.


To avail the emergency loan, a worker must be a member of SSS and was terminated from January 01, 2009 up to the present. The maximum allowable loan must be not more than 2 months. The amount of loan will be equivalent to the worker’s salary for the past six months but should be not more than 15,000.


For those who will avail the one-month loan, the employee should have contributed for 12 months. For those who will avail 2 month-loan, one should have contributed for 24 months in the SSS.


The loan is payable monthly for three years, with a grace period of one year following the date of the loan. SSS Secretary Romulo Neri says, “The loan carries 10% interest per annum, with the first year’s interest deducted in advance from the principal. The interest for the second and third years will be included in the monthly amortization”


If an employee fails to pay the amortization, Sec. Neri clarifies that a penalty increased of one percent per month will be made.


To be eligible to file for emergency loan, an employee must obtain these criteria:


  • Paid 12 months in contributions before they lost their jobs
  • Paid at least six monthly contributions for 2008
  • Updated loan amortization as of December 31, 2008
  • Must not have been previously granted refund of contributions, retirement or total permanent disability benefits
  • Must not have had fraudulent loan applications


For more information about the emergency loan, you may visit www.sss.gov.ph or visit main or regional SSS offices nationwide.


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