P149 million earned by SSS through housing fairs

SSS has sold a total of P149 million worth of acquired houses and lots last year at government-sponsored housing fairs as part of efforts to reduce the housing backlog in the country, a top official said.

SSS President and Chief Executive Officer Corazon de la Paz–Bernardo said 381 property assets were sold from January to July 2007, and the fund has been finalizing the sale of 135 units more with a combined worth of P56 million. More about this SSS news update

New SSS Overseas Payment Scheme

Social Security System (SSS) members working overseas can now remit and track their contribution payments through authorized Ventaja International Corporation (VIC) outlets in Taiwan, Hong Kong and Singapore, and soon in Saudi Arabia, Italy, Israel, United Arab Emirates, Qatar, Bahrain, Kuwait, United Kingdom and Greece. In photo are (clockwise, from top left) SSS executive vice-president for branch operations Horacio Templo, SSS vice-president for Members Assistance Center program... Read more about this press release.

SSS ID System is Only Available in San Juan and Main Branch

I just wonder why is it so that the only branches where you can apply for a SSS ID is in San Juan and Main branch? Why is it so? Instead of bringing in the service in full even to small branches and offices of the SSS it was the other way around.

If the machines were having problems or trouble why not have it repaired or else buy another one? Instead of providing free services to the people because they are needed, these services were hidden like in the recent calamity loan. The link in the website was removed two days after announcing that the said SSS calamity loan is now available for members.

Are the funds being re-channeled somewhere else? Well, if you are a member of the SSS expect worst services with the people in the government worse than their services.

Yes, as of now if you are looking to have a SSS ID, the only 2 remaining branches where you can apply for one is SSS San Juan and SSS Main Branch

SSS Calamity Loan - Interest Rate

After knowing you are qualified to avail of the SSS calamity loan and learning what loanable amount you can get out of this program by the Social Security System (SSS) in the Philippines, the next step is to know about the interest rate and how much you pay in extra for the whole duration of the program of SSS calamity loan.

According to the SSS - "A calamity loan is charged an interest of six percent a year, not deducted in advance. The interest shall be incorporated in the borrower's monthly amortization of the loan."

Knowing about these things is your best weapon against mistakes by the SSS of overcharging your or at least you know what to expect after you get the loan. Another important thing to know is the delinquency interest if in case you fail to pay on time for the whole duration of the calamity loan program. That will be mentioned in my next post so it would be easier to understand about it.

SSS Calamity Loan - Loanable Amount

After knowing if you are qualified to make or apply for SSS calamity loan, the next big step is to know how much loanable amount you can get out of this program by the Social Security System of the Philippines. Below is again a short guide to let you know how much is the loanable amount that a SSS member can get if he or she qualifies for it.

According to the official website of the SSS, below is the exact amount of calamity loan that you could possibly get provided that you are qualified and you have no outstanding previous loan balances.

• A member may avail of a calamity loan of P8,000.
• A member with an existing calamity loan may avail of another calamity loan, provided that his total calamity loan availment does not exceed P10,000. The outstanding balance of any earlier calamity loan will not be deducted from his new loan.