Government Offices in Lucena City: Social Security System

Posted on Oct 7, 2012

Did you know that the Social Security System building has already been moved?

Yes. From its former building at Enriquez Street, SSS, along with the office of the Bureau of Internal Revenue (BIR), can now be found at the Lucena Grand Central Terminal located along Diversion Road.

Before you head to the complex to do your business, though, we have another question for you:

Are you already familiar with the loans and benefits that SSS members can avail?

If not, here’s a quick guide of what’s in store for members like you:

• Member Loans

• Salary Loan – this is a loan intended for short-term credit needs.

• Emergency Loan – this is a loan granted to workers in the private sector who were separated from employment as a result of the currency crisis.

• Housing Loans

• Individual Housing Loan – is a lending program of the Social Security System (SSS) established to provide funds thru SSS-accredited participating financial institutions (PFIs).

• Housing Loan for Workers Organization Members – aims to provide socialized and low-cost housing to workers who are bonafide members of duly registered and accredited workers’ organizations.

• Housing Loan for OFWs – aims to provide socialized and low-cost housing to overseas Filipino workers.

• Housing Loan for Repairs and/or Improvement –  is a lending program of the Social Security System (SSS) available either directly from the SSS or thru its accredited participating financial institutions (PFIs).

• Pari-Passu – Pari-passu is a joint housing loan program of the Social Security System (SSS) and the SSS’ accredited participating financial institutions (PFIs) which enables a member to acquire his own house.

• Assumption of Mortgage – is a lending program of the Social Security System allowing a member in good standing to assume the updated principal balance of an existing SSS housing loan.

• Apartment and Dormitory – is a lending program of the Social Security System (SSS) that can be used to  construct dormitories, boarding and lodging houses, apartments and other residential buildings intended to be rented out.

• Corporate Housing Program – is designed to support the government’s low cost housing project by helping employers build housing facilities for their employees.

• Direct Housing Development Loan – aims to support developers for their development of land including the access road and house construction within the project site, working capital to the extent of 20% of project cost, and construction of housing units eligible for mortgage or take-out financing.

• Housing Development Loan– designed to support the social housing project of the government as well as to provide affordable and decent houses to all homeless SSS members.

•  Business Loans

• Social Development Loan – designed to provide long-term loan assistance for the development of facilities and establishments of institutions that provides quality education or other academic training programs and affordable medical or health care related services to the general population and to SSS members and their dependents.

• Business Development Loan – aims to provide financial assistance to the business sector for the purpose of increasing productivity and enhancing potential earnings through expansion, diversification and other business development projects.

• SULONG PROGRAM – designed to give small and medium enterprises (SMEs) greater access to short and long term funds.

Benefits

•  Social Security Benefits 

• Sickness Benefit – The sickness benefit is a daily cash allowance paid for the number of days a member is unable to work due to sickness or injury.

• Maternity Benefit – The maternity benefit is a daily cash allowance granted to a female member who was unable to work due to childbirth or miscarriage.

• Retirement Benefit – is a cash benefit either in monthly pension or lump sum paid to a member who can no longer work due to old age.

•  Disability Benefit – aims to ensure that the right cash benefit for disability is paid to truly deserving members. The amount of the monthly pension will be based on the member’s number of paid contributions and the years of membership.

Probably more than you thought, huh? We thought so, too. This is just a quick guide, though. For more information about the loans, benefits, and other services that SSS gives, you can visit their official website for more details.