Good news to all SSS (Social Security System) members who happen to have existing SSS Loans which has not been paid for over a year. The SSS launched the SSS Loan Restructuring Program (LRP)for SSS members with past due accounts. These loans include:
Calamity Loan
Salary Loan Early Renewal Program (SLERP)
Salary Loan
Emergency Loan
Educational Loan (old)
Study Now Pay Later Plan
Vocational / Technical Course Loans
Y2K Loans
Investments Incentive Loan
The following bullets describe the coverage for the Loan Restructuring Program:
All members with past due Calamity Loans or Salary Loan Early Renewal Program (SLERP)
Members-borrowers with past due short-term loans living or working in calamity/disaster stricken areas as declared by the National Disaster Risk Reduction and Management Council (NDRRMC) or in the case of Ondoy, by the National Government.
Covered short-term loan programs are as follows:
Salary Loan
Emergency Loan
Educational Loan
Study Now Pay Later Plan
Voc Tech Loans
Y2K Loans
Investments Incentive Loan
Updates: SSS returned the Loan Restructuring program from April 2, 2018 to October 1, 2018.
Recently, SSS announced that LRP with penalty condonation was extended for another six months or until April 1, 2019
The main objective of this program is to help relieve the burden of calamity-stricken workers, who face the difficulties in paying SSS loan after being affected by the various calamities that have devastated some parts of the country. The outstanding short-term loan must be past due for a period of at least 6 months of the first day of the restructuring period.
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How to avail condonation.thank you