Finance Secretary and Social Security Commission Chair Frederick Go has provided strategic guidance to the Social Security System (SSS) on a new micro-loan program aimed at expanding affordable access to short-term credit for members.
The initiative aligns with the directive of President Ferdinand Marcos Jr. to protect Filipinos from high-cost informal lending while providing financial support for urgent needs.
“Through the proposed SSS Micro-Loan Program, we are addressing the immediate cash needs of members by offering small, short-term loans at reasonable rates and with flexible repayment options,” Go said. “This program will help steer members away from loan sharks and other high-cost, predatory lending schemes, while promoting responsible borrowing.”
Under the proposed framework, the SSS will partner with participating banks and financial institutions to deliver the program through digital platforms.
Key features of the program include loan amounts ranging from P1,000 to P20,000, depending on a member’s average monthly salary credit. It offers flexible repayment terms from 15 to 90 days and an interest rate of 8 percent per year, or 0.67 percent per month.
The program will be open to eligible SSS members aged 18 to 64 who have at least 12 paid monthly contributions and no pending or settled retirement, disability, or death benefit claims. Members with existing SSS loans may still qualify, subject to program limits.
The SSS is currently finalizing guidelines, systems integration and partnerships, with a pilot rollout targeted for the first half of 2026.
“This micro-loan program reflects our continued commitment to strengthening social protection and advancing financial inclusion for all Filipinos,” Go said.
