In celebration of Labor Day, the Social Security System (SSS) announced a series of benefit enhancements for its members, including reduced interest rates for salary and calamity loans, expanded coverage under the Pension Loan Program (PLP), and plans for a new micro-credit loan facility.
President Ferdinand R. Marcos Jr. personally revealed the initiatives during his Labor Day message at the SMX Convention Center on Thursday, highlighting the government’s recognition of Filipino workers and its commitment to supporting their financial well-being.
SSS President and CEO Robert Joseph de Claro confirmed that beginning July 2025, the interest rate for salary loans will be reduced from 10% to 8%, while calamity loans will drop to 7% for qualified members—specifically those with good credit standing and no penalty condonation availments in the past five years.
Another major development is the expansion of the PLP to include surviving spouse pensioners. Targeted for rollout in September 2025, this extension could benefit over 1.2 million surviving spouses. Under the expanded program, they may avail of loans up to ₱150,000, covered by Credit Life Insurance, which ensures that outstanding loans will be fully settled in the event of the borrower’s death.
De Claro also shared that the SSS is working closely with partner financial institutions to develop a micro-credit loan facility for members needing short-term financing, with tenors ranging from 15 to 90 days.
“These enhancements are our way of celebrating Filipino workers — here and abroad — this Labor Day,” de Claro said. “We are also exploring livelihood loans and advancing digitalization efforts in partnership with the DICT, PhilHealth, and various industries.”
The SSS says all these programs are aligned with the Marcos administration’s push to uplift workers, modernize services, and fight poverty through inclusive financial support.
