SSS ST Member Loan Penalty Forgiveness Program Ends May 14

SOCIAL Security System (SSS) President and CEO Michael G. Regino urges members with delinquent loans to take advantage of the Short-Term Loan Penalty Waiver Program or the Assistance and Relief Program. Pandemic Restructuring 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 the SSS since November 15, 2021 to provide financial relief to its members affected by the pandemic, according to a statement from the SSS. 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, payday loan early renewal program, emergency loans and loan restructured under the loan restructuring program implemented 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 systems and other terms and conditions can be viewed via https://bit.ly/3kB4Ao8.

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