SSS Pension Loan Program (PLP) for SSS Members

The Pension Loan Program (PLP) serves as a beacon of financial support for retirees in the Philippines. Launched by the Social Security System, the program offers retired members a safety net by providing accessible loans that cater to their immediate financial needs, such as medical expenses or emergencies, without the pressure of high-interest rates commonly found with private lenders.

Targeted at SSS retirement pensioners, the PLP not only presents a solution to short-term monetary challenges but also stands as a testament to the agency’s dedication to its members’ well-being. Pensioners can now apply online, enjoying the ease of access to credits of up to Php 200,000 at a modest interest rate of 10 percent per annum. This reinforces the agency’s resolve to uphold the financial stability and dignity of retirees, ensuring they have the resources to navigate their post-employment years comfortably.

Credits: SSS / Facebook

What is the PLP?

The PLP is a lending program initiated by the Social Security System in the Philippines. It’s designed to help retired members by providing a loan that can be used for their immediate financial needs, thus preventing the need to turn to high-interest credit sources.

Significance of the Program

The Pension Loan Program (PLP) is an essential financial scheme for retired members in the Philippines, allowing them to borrow up to P200,000 based on their basic monthly benefit plus an additional P1,000, with repayment terms between 3 to 12 months. Qualified pensioners under 80 years old, with no pension deductions and an active pension status, can benefit from this program, which has been a financial support since its launch in September 2018. Offering a manageable 10% annual interest rate without requiring ATM cards as collateral or charging processing fees, the PLP has disbursed over Php 1.4 billion in loans, aiding retirees in managing their post-retirement finances effectively and with dignity.

Legal Basis

The PLP is part of the mandate of the agency to provide social security protection to all income earners and their beneficiaries. The legal framework for these benefits is outlined in the Social Security Act of the Philippines.


  • Affordable Loans: Retired SSS pensioners can access low-interest credits through the PLP. These provide financial support during emergencies, medical expenses, or other urgent needs.
  • Flexible Loan Amounts: The amount is based on the basic monthly pension (BMP) plus an additional benefit of P1,000.00. Pensioners can choose from different amounts, ensuring flexibility to meet their specific requirements.
  • Reasonable Interest Rate: The PLP offers a low-interest rate of 10% per annum, calculated from the diminishing principal balance. This favorable rate helps pensioners manage their finances effectively.
  • No Collateral Requirement: Unlike traditional lenders, the SSS does not ask pensioners to surrender their ATM cards as collateral. This ensures that pensioners can access credits without risking their financial security.
  • Streamlined Process: By directly crediting allowances to partner banks like the Philippine National Bank (PNB), the PLP ensures faster turnaround times and convenience for pensioners.


To be eligible for the PLP, you must:

  • Must be a retirement pensioner of the Social Security System.
  • Age must not exceed 85 years at the end of the loan term.
  • Should not have any deductions from their monthly benefit due to outstanding credit balances or benefit overpayments payable to SSS.
  • Cannot have an existing advance pension under any SSS Calamity Assistance Package.
  • Must have been receiving a regular monthly allowance for at least one month, and the status of the pension should be “Active”.
  • For first-time borrowers, must apply online through the My.SSS portal.


  • An active My.SSS account for online application.
  • A basic monthly pension plus the PHP1,000 additional benefit.
  • Personal identification documents as required by the agency.
  • A loan application that does not exceed the maximum amount of PHP200,000.
  • Agreement to the credit terms with a 10 percent per annum interest rate.

Step-by-Step Guide on How to Benefit from the PLP

  1. Check your eligibility against the qualifications mentioned above.
  2. Visit any SSS branch with your valid IDs and other required documents.
  3. Decide on the loan amount and repayment term that suits your needs.
  4. Sign the necessary documents to process the loan.
  5. If eligible, receive your credit through the Cash Card, Quick Card, or UMID card enrolled as an ATM card.

Recent Updates

Record P5.95 billion in pension loans released in 2022

The Social Security System announced that it disbursed a record-breaking amount of P5.95 billion in pension loans in 2022, marking the highest annual disbursement since the program’s inception in 2018. The number of retiree-pensioners benefiting from the Pension Loan Program (PLP) also increased significantly, with a total of 127,920 retirees availing the program in 2022, an 85% increase from the previous year. The PLP offers low-interest rates and flexible installment payment terms to assist retirees with their immediate financial needs while ensuring a net take-home allowance of at least 47.25% of their monthly pensions. (GMA News Online)

SSS Pension Loan Now Available Online: A Convenient Option for Retiree-Pensioners

In a positive development for SSS retiree-members, their Pension Loan can now be processed online. Discover how to take advantage of this convenient option and apply for credit hassle-free.

Streamlined Pension Loan Process

The Social Security System has further simplified the pension loan application, promising prompt approvals upon submission. Qualified retirees can now easily apply for credit of up to Php 200,000 with low interest rates, ensuring swift financial support for their needs.

Mang Lauro’s Determination to Survive: Navigating Financial Challenges Amid Unemployment

For the past nine years, Mang Lauro has been finding ways to make a living as he remains unemployed. He expresses gratitude for being able to continue his Social Security System contributions, as it provides him with the means to purchase medication, pay for utilities, and survive day-to-day expenses. Despite the hardships, Mang Lauro remains determined to persevere and refuses to give up.

Enhanced Pension Loan Program

Introducing the Enhanced Pension Loan Program: A new program designed to provide financial assistance to SSS retiree-members. Discover how to avail of this program and its benefits.

SSS Offers Faster Loan Applications for 1st-Time Borrowers

Retirement pensioners who are first-time borrowers under the Social Security System Pension Loan Program (PLP) can now apply for loans online starting May 30. The agency recognizes the challenges faced by pensioners who previously had to visit the nearest branch for the first-time applications. Qualified retirement pensioners can apply for credit equivalent to three, six, nine, or 12 times their basic monthly allowance plus the PHP1,000 additional benefit, but not exceeding the maximum amount of PHP200,000. (PNA)

SSS Pension Loan Program: A Solution for Short-Term Financial Needs of Retirement Pensioners

Good news for SSS retirement pensioners! The Pension Loan Program is now available to address your short-term financial needs. With this program, retiree-beneficiaries can access the funds they need while enjoying the benefits of their retirement.

SSS Pension Loan Program: A Financial Solution for Retirees

In this informative episode of #UsapangSSS, we will explore the Pension Loan Program, a financial assistance scheme designed to support retirees. Discover how this program can provide retirees with the necessary funds to meet their financial needs and enjoy a comfortable retirement.



Are you an SSS pensioner wondering how to avail of the Pension Loan? This video provides step-by-step instructions on how to apply for the loan and answers common questions like eligibility criteria. Watch until the end to learn more and take advantage of this financial opportunity.



The Pension Loan Program is a beneficial scheme that ensures retired SSS members can access financial assistance without succumbing to the pitfalls of high-interest loans. It’s a scheme that underscores the commitment of the agency to support its members throughout their retirement. Check your eligibility, understand the requirements, and make a visit to your nearest SSS branch if you think the PLP can aid you in your financial planning post-retirement.

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