SSS Loan Penalty Condonation Program ends on September 30, 2009
The six-month availment period of the condonation program for delinquent borrowers will end on September 30, 2012. The SSS grants condonable penalties of 50 to 100 percent, depending on the borrower’s situation and mode of payment under the program.
Delinquent borrowers filing retirement or total disability claims within the availment period can apply for penalty condonation under Situation 3. Half of their loan penalties will be waived and the rest will be deducted from their retirement or disability claim.
De Quiros said the amnesty is also extended to beneficiaries of member-borrowers who died with unpaid loans (Situation 1-B) to enable dependents to receive the full amount of death benefits. They can file their application for condonation with their SSS death claim until March 13, 2013.
source : https://www.sss.gov.ph/sss/index2.jsp?secid=3124&cat=6&pg=null
Members who have online access to their SSS membership data can also apply to this program via online by logging in to https://www.sss.gov.ph/sss/Section_View
For more details please see slide show below.
The six-month availment period of the condonation program for delinquent borrowers will end on September 30, 2012. The SSS grants condonable penalties of 50 to 100 percent, depending on the borrower’s situation and mode of payment under the program.
The SSS offers 100 percent condonation of penalties to borrowers under Situation 1-A, or those whose employers failed to remit the loan amortizations deducted from members’ salaries. They can submit proof of employers’ unremitted loan payments such as pay slips or affidavits.
Borrowers with at least three paid amortizations and a minimum of three contributions within the last six months before the month of application, or contributions for the next three months, qualify under Situation 2, which condones 90 percent of penalties for full payment and 80 percent for installment payments of up to three years.
Members applying under Situation 2 no longer need to wait for posting of the required contribution and loan payments. They can simply present SSS receipts as proof of payments so that we can immediately process their application for condonation, clarified by SSS President and Chief Executive Officer Emilio de Quiros, Jr.
De Quiros said the amnesty is also extended to beneficiaries of member-borrowers who died with unpaid loans (Situation 1-B) to enable dependents to receive the full amount of death benefits. They can file their application for condonation with their SSS death claim until March 13, 2013.
source : https://www.sss.gov.ph/sss/index2.jsp?secid=3124&cat=6&pg=null
Members who have online access to their SSS membership data can also apply to this program via online by logging in to https://www.sss.gov.ph/sss/Section_View
For more details please see slide show below.
New SSS Member Loan Penalty Condonation Program for Individual Members Brochure from SSS Philippines
