The Philippines Department of Finance announced that Finance Secretary and Social Security Commission Chair Frederick D. Go has provided strategic guidance to the Social Security System (SSS) on implementing a proposed micro-loan program aimed at expanding access to short-term credit for SSS members and reducing reliance on high-cost informal lending. Under the proposed framework, the SSS would partner with participating banks and financial institutions to deliver loans through their digital platforms. Key parameters include loan amounts ranging from PHP 1,000 to PHP 20,000 based on a member’s average monthly salary credit, repayment terms of 15 to 90 days, and an interest rate of 8% per annum or 0.67% per month. Eligibility would cover members aged 18 to under 65 with at least 12 paid monthly contributions and no pending or settled retirement, total disability, or death benefit claims, while members with existing SSS loans may still qualify subject to program limits. The SSS is finalizing program guidelines, systems integration, and bank partnerships, with a pilot rollout targeted in the first half of 2026.
Department of Finance (Philippines) 2026-01-02
Philippines Department of Finance outlines SSS Micro-Loan Program framework with PHP 1,000 to PHP 20,000 loans at 8% annual interest
The Philippines Department of Finance announced that Finance Secretary Frederick D. Go has guided the Social Security System (SSS) on a proposed micro-loan program to expand short-term credit access for members, with loans ranging from PHP 1,000 to PHP 20,000 at an 8% annual interest rate. The SSS plans to partner with banks for digital loan delivery, targeting a pilot rollout in the first half of 2026.