The Social Security System is calling on its members with overdue loans to apply for the new loan condonation program, which will start on April 2, an SSS press release said.
The new loan condonation program allows members to settle the unpaid principal amount and corresponding interest of their loans without paying the entire amount of incurred penalties. The terms and requirements vary depending on the type of applicant availing the program, the press release said.
Beneficiaries of deceased borrowers filing their death claim applications, and borrowers filing total disability or retirement claims within the availment period, are also covered by the new amnesty.
The deadline for application is September 30, but beneficiaries of deceased borrowers with outstanding loans can apply until March 30, 2013.
The new amnesty program covers overdue salary, calamity, emergency, educational, study-now-pay-later, stock investment and privatization fund loans.
For more information and inquiries, members can call the SSS Hotline: 920-6446 to 55 or email the member_relations@sss.gov.ph, the press release said.*
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