President Ferdinand “Bongbong” Marcos Jr. announced on Labor Day that beginning July 2025, the Social Security System (SSS) will lower interest rates on salary and calamity loans for qualified members.
Under the new policy, members with clean records—specifically those without penalty condonation in the past five years—will benefit from reduced interest rates: 8% for salary loans and 7% for calamity loans, down from the current 10%.
“This move not only provides financial relief but also rewards members with good credit standing,” Marcos said during the 123rd Labor Day celebration in Pasay City.
SSS President and CEO Robert Joseph De Claro added that the lower rates will increase the actual loan proceeds for eligible borrowers.
In addition, the government is set to roll out an expanded Pension Loan Program (PLP) for surviving spouses of deceased SSS pensioners, with loan limits of up to ₱150,000. This program, expected to launch in September 2025, will be backed by Credit Life Insurance to ensure full loan settlement in the event of the borrower’s death.
SSS is also exploring other initiatives, such as micro-credit programs and livelihood loans for members, particularly in the transport sector, as part of the broader government strategy to alleviate poverty.
These new benefits will be available to both local and overseas SSS members.