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Friday, March 29, 2024

SSS says pension releases reach P1b

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State-run Social Security System said pension loan releases reached the P1-billion mark, benefitting nearly 42,000 individuals since it implemented the Pension Loan Program in September 2018.

But SSS president and chief executive Aurora Ignacio said over the weekend while the program met its objective to provide immediate financial assistance to pensioners for their short-term and emergency needs, they should be vigilant and avoid transacting with “fixers” for their transactions, especially for the pension loan program.

“We are pleased to note that our pensioners are now relying on SSS for their immediate financial needs instead of going to loan sharks. But sad to say, there are people who take advantage of our pensioners during their times of need. This has to stop. And this will only stop if our pensioners will no longer entertain any deal with these individuals who exploit them,” she said.

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