SSS Member Short-Term Loan Penalty Forgiveness Program Ends May 14, 2022

social security system (SSS) President and CEO Michael G. Regino urges members with delinquent loans to avail themselves of the Short-Term Loan Penalty Relief Program (STMLPCP) or the Relief and Restructuring Program in Pandemic 5 (PRRP 5) before it ends on May 14, 2022.

As part of the pandemic relief and restructuring programs, PRRP 5 has been offered by SSS since November 15, 2021 to provide financial assistance to its members affected by the pandemic. Principal and interest on the outstanding loan can be settled either in a single full payment or in installments, while accrued penalties will be waived upon full payment of the restructured loan.

Included in the program are those with unpaid wages, calamity, salary loan advance renewal program (SLERP), emergency loans and loan restructured under the Loan Restructuring Program (LRP) implemented. work from 2016 to 2019.

“We want our members to regain their good reputation with SSS through this tolerance program which offers affordable and flexible payment terms. Also, they can easily submit their application online through their My.SSS account,” Regino said.

Further information on penalty tolerance, payment schemes and other terms and conditions can be accessed via this link https://bit.ly/3kB4Ao8.

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