00:00President Ferdinand R. Marcus Jr. announced that starting July, the interest rates for the Social Security System, or SSS, salary and calamity loans will be reduced as part of the government's relief efforts for members.
00:12According to the palace, the interest rate for salary loans will be lowered from 10 percent to 8 percent, while calamity loan interest rates will drop to 7 percent.
00:22This move aims to ease the financial burden on SSS members, especially those affected by emergencies.
00:28In addition, the SSS is set to launch its expanded pension loan program in September, which will now include surviving spouse pensioners.
00:38Under the expanded program, the legal spouses of deceased pensioners may borrow up to 150,000 pesos, depending on eligibility.
