This is to correct the salary loan amounts Social Security System members may take (“SSS extends loans to Yolanda victims,” Business, 11/12/13).
SSS members with at least 36 monthly contributions are eligible for the one-month salary loan of up to P15,000. The loanable amount is based on the member’s monthly salary credit (MSC), which is currently at a maximum of P15,000.
Members with at least 72 monthly contributions, on the other hand, can apply for a two-month salary loan equivalent to twice of their MSC. Since the highest MSC is P15,000, this would be a maximum loanable amount of P30,000.
—MARISSU G. BUGANTE,
vice president,
Public Affairs and Special Events Division,
Social Security System
MOST READ
LATEST STORIES