SSS Pension Loan Now Open for Surviving Spouse Pensioners

Good news for SSS retirees: the SSS pension loan program is expanding. Now, even surviving spouse pensioners can apply and borrow up to ₱150,000. This change aims to give financial support without forcing them into risky lenders. Let’s break down what’s new and how it works.

What’s New with the Loan Program

SSS announced the expansion of its existing pension loan program to include surviving spouse pensioners. Under the new rules, they can borrow up to ₱150,000. The loan term options range from 6 to 12 months, depending on how much they borrow. SSS will use their monthly pension to compute the loanable amount, making the process simpler.

Loan Details & Conditions

To qualify for this SSS pension loan, surviving spouses must have an active SSS number and a registered My.SSS account. They also need to have an enrolled disbursement account where their pension is credited. The interest rate is 10% per annum, calculated on a diminishing balance.

Protection Through Insurance

SSS ensures that the pension loan comes with Credit Life Insurance, which automatically clears the remaining balance if the borrower passes away before the loan is fully paid. Social Security System Manulife Philippines is the insurance partner, bringing added financial security.

READ: MySSS Card that doubles as a debit card

Why the Expansion Matters

Many surviving spouses live on fixed pension income and may face urgent financial needs. This SSS pension loan gives them a legit, regulated source of funds. It helps avoid borrowing from loan sharks or high-interest lenders. SSS aims to make social protection more inclusive and practical.

How to Apply

You can apply online through the My.SSS portal, making it accessible even from home. The applicant must log in, go to “Loans,” and select “Pension Loan.” Next, they choose the disbursement account and the loan amount terms (3, 6, 9, or 12 months). After agreeing to terms, they can submit the loan application for approval.

With the expanded SSS pension loan, surviving spouse pensioners now have a valuable financial tool for stability and support. By borrowing safely from SSS, they can avoid risky lenders and manage life’s needs with dignity. If you’re eligible, this loan could be life-changing — and SSS ensures it stays protected and fair.