A cash loan granted to retirement pensioners to assist with their immediate financial needs at a low interest rate.

Qualifying Conditions

All SSS Retirement Pensioners who meet the following conditions are qualified to apply for a Pension Loan:

  1. Must be eighty-five (85) years of age or below at the end of the month of loan term.

NOTE: The term of the loan plus the age of the pensioner at the time of application should not exceed eighty-five (85) years.

  1. Must have no deductions from his/her monthly pension (such as for outstanding loan balance, benefit overpayment payable to SSS, and the like).
  2. Must have no existing advance pension under the SSS Calamity Assistance Package.
  3. Must be receiving his/her regular monthly pension for at least one (1) month, and the status of pension is “active”.



  1. If the retiree pensioner availed of the eighteen (18) months advance pension, he/she must be receiving his/her regular monthly pension for at least one (1) month.
  2. SSS Retirement Pensioners under the Portability Law, and those under the care and custody of a guardian are excluded from this loan program.

Loan Details

Loanable Amount

The loan amount is based on the Basic Monthly Pension (BMP) plus the Php1,000.00 additional benefit. The pensioner-borrower may choose from the following loanable amounts, but not to exceed the maximum loan limit of Php200,000.00.

Loanable Amount Repayment Term
3 x (BMP + Php1,000.00 additional benefit) 6 months
6 x (BMP + Php1,000.00 additional benefit) 12 months
9 x (BMP + Php1,000.00 additional benefit) 24 months
12 x (BMP + Php1,000.00 additional benefit)


Interest Rate

The interest rate is 10% per annum, or 0.83% per month, and it is computed on a diminishing principal balance until fully paid.


Loan Processing Time

The pension loan shall be processed within the day of application. Applications received after 5:00 pm will be processed the next working day. The loan proceeds shall be credited to the Cash Card/UMID Card within three (3) working days from approval date of application. 



There is a minimal fee of Php25.00 for the Quick Card or Cash Card. The cost shall be shouldered by the pensioner-borrower and shall be deducted from the loan proceeds by the bank.


Monthly Amortization

The loan amortization shall be deducted from the monthly pension. The first amortization shall become due on the second month after the loan was granted. For example, if the loan was granted in May, the first amortization shall be deducted from the pension for July.



All pensioner-borrowers are covered by Credit Life Insurance (CLI), which ensures that the outstanding loan balance is fully paid in case of the untimely demise of the pensioner-borrower.

The 1% service fee usually charged by the SSS is now waived and shall be used instead to subsidize the pensioner-borrower’s CLI premium.

How to Apply


  1. Log in to your My.SSS Member Account.
  2. Click E-Services  > Loans > Apply for Pension Loan.
  3. Choose the disbursement account where you want to receive the proceeds of your Pension Loan. If you have not enrolled a disbursement account for the electronic disbursement of your Pension Loan, your application will be automatically rejected. If you have not yet chosen an account for your Pension Loan disbursement, the Submit button will remain disabled.
  4. Choose your preferred Pension Loan amount from the computations displayed on the screen by clicking the “Submit” button below each computation.
  5. Check all the details of your application, then tick the small box on the left side of the “Acknowledgment, Authorization and Agreement” box screen. This signifies that you agree with the amount of Pension Loan as stated in the Disclosure Statement, the deduction of your monthly loan amortization from your monthly pension and the Terms and Conditions of the Pension Loan Program.
  6. The Terms and Conditions of the Pension Loan Program shall be displayed. Click the “I have read and agree to the Terms and Conditions” button to proceed with the application.
  7. Click the Disclosure Statement and download or print a copy.
  8. Close the Disclosure Statement page to activate the Submit Pension Loan button. Then click “Submit Pension Loan”.
  9. A notification screen shall be displayed regarding the successful submission of your loan application.
  10. The same notification shall also be sent to your registered email address.
  11. You will receive the proceeds of your Pension Loan within three (3) working days through your Savings Account in the following order of priority:
    • Valid SSS UMID Card enrolled as ATM
    • Valid Pension Savings Account with a PESONet participating bank enrolled with the SSS
    • Valid UBP Quick Card savings account enrolled with the SSS.


Loan Renewal

The pensioner-borrower shall be allowed to renew the loan only after full payment of the current loan.