Qualifying Conditions

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


  1. A retiree-pensioner registered in the My.SSS facility in the SSS website.
  2. 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”.

Loan Details

Loanable Amount

The loan amount that may be availed is based on the Basic Monthly Pension (BMP) together with the Php1,000.00 additional benefit. The pensioner-borrower has the option to choose the loanable amount from any of the following, 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 loan shall incur an interest rate of 10% per annum until fully paid, computed on a diminishing principal balance, which shall become part of the monthly amortization.


Loan Proceeds and Processing Time

The loan proceeds shall be released through any of the following:

  1. Valid SSS UMID Card enrolled as ATM Card
  2. Valid UBP Quick Card
  3. Valid Pension Savings Account in SSS-accredited PESONet participating banks (upon implementation of PESONet Disbursement Facility)


The loan proceeds shall be credited to pensioner-borrowers account in five (5) working days.



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

The pensioner-borrower who wishes to renew their pension loan, must apply online through the SSS website:

  1. Log in to your My.SSS account.
  2. Under E-Services Tab, click Apply for Pension Loan.
  3. From the computations displayed, choose the desired pension loan amount, and click Submit.
  4. Check all the application details, then click the box on the lower left side of the Acknowledgment, Authorization and Agreement box screen. By clicking, you agree on the amount of pension loan stated on the Disclosure Statement, deduction of monthly amortization from your regular monthly pension, and Terms and Conditions of the Pension Loan Program.
  5. Click the Disclosure Agreement to download and/or print a copy of this.
  6. Close the Disclosure Agreement page to activate the Submit Pension Loan button, then click Submit Pension Loan.
  7. After submitting your application, you will receive an email notification in your registered email address containing the details of your pension loan application.  


Loan Renewal

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



  1. In case the monthly pension of the retiree pensioner is cancelled due to re-employment or resumption of self-employment under Section 12-B (c) of the Social Security Act of 2018, the retiree pensioner’s outstanding pension loan balance shall be converted into a regular salary loan. Hence, the existing policies and rules on salary loan shall apply. Moreover, the retiree pensioner shall have the option to pay the outstanding balance in full.
  2. In case the monthly pension of the pension-borrower is suspended due to non-compliance with the Annual Confirmation of Pensioners (ACOP), the outstanding balance of the pension loan shall be deducted upon resumption of the pension-borrower’s monthly pension, without any penalty charge.

A pensioner-borrower with a pending request for re-adjudication or adjustment of pension shall not be granted a pension loan. On the other hand, request for re-adjudication or adjustment of pensioner-borrower’s benefit shall be allowed only after the full payment of the availed pension loan.