THE government will lower interest rates for Social Security System (SSS) loans starting July 2025, President Ferdinand R. Marcos Jr. announced.
The President said the move is part of a broader push to strengthen worker protection and financial security.
It also aims to ease Filipinos’ financial burden and help reduce poverty.
President Marcos revealed during a Labor Day address that SSS members with good standing will see interest rates drop to 8% for salary loans and 7% for calamity loans, down from the current 10%.
“Nais nating tiyakin ang inyong kapakanan hindi lamang sa ngayon kungdi sa pangmatagalan,” Marcos said at an event honoring outstanding Filipino workers at the SMX Convention Center in Pasay City.
The government will also launch an expanded Pension Loan Program in September allowing surviving spouses of deceased pensioners to borrow up to P150,000.
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