This photo taken by Taiwan’s Central News Agency (CNA) on April 3, 2024, shows a damaged building in Hualien, after a major earthquake hit Taiwan’s east. A major 7.4-magnitude earthquake hit Taiwan on the morning of April 3, prompting tsunami warnings for the self-ruled island as well as parts of southern Japan and the Philippines. (Photo by CNA via Agence France-Presse)
MANILA, Philippines — Overseas Filipino workers (OFWs) in Taiwan who were affected by a powerful earthquake that struck the county last Wednesday may soon avail of calamity loans from the Social Security System (SSS), the agency’s spokesperson, Marissa Mapalo, said.
According to Mapalo, the requirements and guidelines for the calamity loan are still for approval of the SSS board, but the OFWs may register online as early as now.
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“Mabuti po para sa mga OFWs members natin na nasa Taiwan kailangan magregister na po sila ng kanilang my.sss account,” she
“It’s good for our OFWs members who are in Taiwan, they need to register their my.sss account,” Mapalo said in Filipino in an interview aired over Radyo 630 on Friday.
“After that they need to have an enrolled disbursement account because that’s where their loan will be disbursed.”
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While there were still no specific guidelines for the loan yet, Mapalo mentioned that the usual requirements of the SSS include 36 months of total SSS contributions and “fixed contribution within the 12-month period” from the time they apply.
When asked how long it would take for the application to be approved, Mapalo said that it would usually take three to seven days.
She added that the SSS may also apply a 10 percent per year interest rate on the loan, but it will still depend on the SSS board’s approval.