Manila, May 1 -- State-run Social Security System (SSS) said it will reduce interest rates for salary and calamity loans, expand the pension loan to include surviving spouse pensioners programs, and implement a micro-credit loan facility through third-party providers.

The enhanced benefits of members, which are part of the government's move to recognize Filipino workers, was announced by President Ferdinand R. Marcos Jr. in his Labor Day message at the SMX Convention Center in Pasay City on Thursday.

In a separate statement, SSS said the reduced interest rate shall be for members who have no availment of penalty condonation in the five years or those who have good credit quality.

The target implementation of the reduced interest rates ...