HONG KONG — Overseas Filipino workers here whose homes have been damaged or destroyed by Typhoon Lando in the Philippines may seek assistance from the Social Security System or Pag-IBIG for the repair or construction of their homes.
Those who are entitled for assistance are those who regularly remit their premiums to SSS and Pag-IBIG and those who live in an area declared under state of calamity in the Philippines.
Members of Pag-IBIG, or Home Development Mutual Fund, may tap a calamity loan of up to 80 percent of their total contribution provided they have paid contributions for at least two years.
The loan is payable within two years and has an annual interest of 5.4 percent. Spot cash or contribution to avail of calamity loan is not allowed.
"Three months after the calamity, dapat mag-file na ng loan application," said Raymond Francis Ramos, Member Services Officer- Hong Kong SAR of the International Operations Group of Pag-IBIG.
Requirements for the Pag-IBIG calamity loan are photocopies of passport, any Philippine-government issued ID, and receipts of the latest six month of payments of the member.
State pension fund SSS, meanwhile, issued a statement saying that it has approved the grant of a calamity relief package for SSS members and pensioners affected by Typhoon Lando.
The SSS calamity relief package consists of Salary Loan Early Renewal Program (SLERP), which allows members to renew their loans earlier than the prescribed date; the SSS Direct House Repair and Improvement Loan Program, which offers a lower interest rate of only six percent per annum; and three-month advance payment for members receiving pensions under SSS and Employees' Compensation Program.
Qualified SSS members and pensioners have until December 31, 2015 to apply for loans and advance pensions while deadline of application for the Direct House Repair and Improvement Loan is up to one year from issuance of its corresponding circular. —KBK, GMA News