SSS Introduces Calamity Loan for OFW Members Affected by Taiwan Earthquake

In response to the recent 7.2 magnitude earthquake in Taiwan, the Social Security System (SSS) has announced that it will extend its calamity loan program to overseas Filipino workers (OFWs) affected by the disaster. This move marks the first time that the SSS will offer its loan scheme outside of the Philippines. The loan aims to provide social security assistance to active SS members residing in areas declared under a state of calamity by the National Disaster Risk Reduction and Management Council (NDRRMC).

sss calamity loan for ofws taiwan
Credits: PNA, SSS / Facebook

Loan Details and Application Process

The SSS president and chief executive officer, Rolando Ledesma Macasaet, revealed that active SSS members working in Taiwan will soon be able to avail themselves of the calamity loan program. The loan will disburse a maximum amount of P20,000, with repayment terms and interest rates similar to the existing local program. Macasaet announced that guidelines for the loan program will be released by Monday, April 8, and all applications will be submitted online.

Loan Disbursement and Dues

Macasaet clarified that the loan can only be disbursed in the Philippines and cannot be forwarded to Taiwan due to processing difficulties. As such, affected OFW members will need to coordinate with their families or representatives in the Philippines to receive the loan funds. Macasaet also emphasized the importance for active SSS-OFW members to settle their dues on time to be eligible for the calamity loan, as the borrowing program is not guaranteed by the social security system.

Disclaimer: The announcement of the calamity loan availability and application process will be made by the relevant authorities, such as the Social Security System (SSS) or other government agencies. The information provided here is based on available data and news reports as of the current date. 

Other Benefits for Affected Members

While the calamity loan aims to provide immediate financial assistance to OFWs affected by the Taiwan earthquake, Macasaet highlighted that active SS members can still avail themselves of other benefits provided by the agency. These include maternity, bereavement, and unemployment insurance, which are accessible to all OFWs worldwide.

Impact of the Taiwan Earthquake

Following the significant earthquake in Taiwan, the Department of Migrant Workers reported three Filipinos with minor injuries. This highlights the event’s impact, affecting around 9 OFWs with injuries from falling debris and stress-induced collapses.  The SSS’s calamity loan program offers crucial support to affected Filipinos. While details like the exact loan amount are still being finalized, the program aims to provide financial assistance to injured OFWs and broader support for the approximately 5,000 Filipinos impacted.

The Filipino community in Taiwan, numbering around 159,480 (including 150,666 OFWs), faces challenges, but thankfully, no fatalities or missing persons have been reported. The Philippines remains vigilant, lifting a tsunami warning for northern provinces and continuing to support its citizens abroad.

With the introduction of the calamity loan program for OFW members affected by the Taiwan earthquake, the SSS aims to provide crucial financial assistance during times of crisis. By expanding its loan scheme to overseas territories, the SSS demonstrates its commitment to supporting and protecting the welfare of its members, no matter where they are in the world.

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