The Social Security System (SSS) will launch a new microloan program to help members avoid predatory lenders, the Department of Finance (DOF) said.
Finance Secretary Frederick Go said the program will provide short-term, affordable loans with flexible repayment options to address members’ immediate cash needs.
Loans will range from P1,000 to P20,000 with interest rates of 8% per year and tenors of 15 to 90 days, based on each member’s average monthly salary credit.
Eligible members aged 18 to under 65 with at least 12 contributions can apply, including those with existing SSS loans within limits.
The program, developed in partnership with banks and financial institutions, is expected to pilot in the first half of 2026.
Source: PhilNews24 | January 3, 2026
DOF SAYS SSS PROGRAM SHIELDS MEMBERS FROM LOAN SHARKS
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