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SSS Pensioner’s Loan Benefits

OFW GSIS SSS Pensioner Loan

OFW GSIS SSS Pensioner Loan

Surprising to know, the SSS pensioner’s loan benefit is not actually from the government. It comes and is offered by private lenders. The SSS pensioner loan may also be called as an ATM loan for the reason that the ATM card is the prime collateral for availing such. If you want to apply for this type of private loan, then you will have to either surrender to the lender, the ATM from which is used to claim monthly pension by the senior member or the pensioner.

Take note that another loan collateral for getting this type of loan approved is the passbook used for the loan. In this case, I believe will be the landbank or PNB bank passbook where the monthly pension is being deposited whose account name is the name of the pensioner himself / herself.

Although we all personally know that the Social Security System (SSS) in the Philippines offer other types of loans from housing to personal to provident loans, educational and more to their members, Today after learning this, I was speechless. This means that there is market for this type of loan for Pinoy senior citizens. This also means that there are people receiving a regular pension from the SSS who are having quick cash problems and that there are some of them that might be getting abused by these private lenders offering such loan.

In this however, I personally think that pensioners should take time before getting in this type of loan. Note that this loan is being offered to seniors aged 60 and above and are receiving a regular monthly pension which means that lenders in this market are getting much for this system. I just hope that it gets regulated as early as possible by the Philippine government. For the equivalent of this loan, you can also go find yourself a GSIS loan or OFW loan. Almost same requirements apply.

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5 Responses to “SSS Pensioner’s Loan Benefits”

  • eliseo hiangan says:

    can i know………my loan balance and updates my SSS.

  • nenita mallari says:

    Dear sir:

    A new UMID CARD was issued to me by Land Bank, Los Banos last April 24, 2012. Then i was suppose to get my pension by May 8, 2012, thru the new UMID card but there was none. I was told by the LBP manager that the said amount is still with the old card. How was it so, when the card was pilforated on April 24, with a balance of P200.00 only.

    The LBP informed me that I should have told them that I am a pensioner. Should there be a need to inform them? All info was indicated in the forms i filled up. Isnt the UMID card a “unified multipurpose card” where all that there is to it should be captured by it?

    I was told that i can withdraw my May 2012 pension with the Union Bank, during office hours, the nearest of which is a two hour trip from my office.

    I called the GSIS Laguna branch a number of times to seek advise on what i should do with the least effort on my part, but nobody answers the phone.

    Are these what we call client friendly service?

  • Geronimo Sicapore says:

    Dear Sr/Madam,
    i would like to inquire in behalf of my father in law who is an ss pensioner about how much he should be receiving,years before he retired his monthly contribution is already p500.and he would like to know if there was a mistake in computing his pension by your office,because as of today he is only receiving p2,500./monthly,i hope that you will be able to clear this matter,as i am also a member and for almost 12years now i have been paying p500.as my monthly contribution.

    Regards,
    Geronimo Sicapore

  • ANTONINA DE LEON DEMETRIA Viloria says:

    I am the younger sister of a former government employee at the Veterans’ Memorial
    Medical Center at Quezon City. I remember before he died after retiring, he told me
    that his pension benefit he advanced or invested to a real estate property/residence in Quezon City GSIS funding from his pension, and this property with a 10 year to purchase. I am worried about what happened. His children were all minor ages at that time, and I recalled that this information before he died is very important.

    KIndly assist me on this matter? I will be able to get more information from his children.

    Sincerely,
    Antonina de Leon Demetrio/a \viloria CPA
    ALD SERV ICENTER/Consulting.Accountant.
    Mail: P.O. Box 25161, Chicago, IL 60625-0161
    Note: I am at Chicago for three more weeks. I can communicate via email at may10nina#yahoo.com

    Thank you, my c.ph: 09286231401.local based LAN
    US bassed LAN 1-312-4392


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