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==[[Southern Leyte News]]== | ==[[Southern Leyte News]]== | ||
''' | '''SSS offers new loan penalty condonation for individual members''' | ||
*Source: http://pia.gov.ph/news/index.php?menu=2&webregion=R08&article= | *Source: http://pia.gov.ph/news/index.php?menu=2&webregion=R08&article=1301332141041 | ||
* | *Monday 19th of March 2012 | ||
:by | :by Marcelo M. Pedalino | ||
Southern Leyte, | MAASIN CITY, Southern Leyte, Mar. 19 (PIA) -- The Social Security System (SSS) has launched another program that seeks to waive the penalty arising from unpaid loans incurred by its delinquent individual members. | ||
Starting April 2 until September 30 this year, SSS, a government-owned-and-controlled corporation (GOCC) serving the pension and retirement needs, among others, of workers in the private sector, will be condoning penalties on loans of its members subject to four specific situations and certain conditions. | |||
For beneficiaries of deceased members, deadline for availment of the special program will be until March 13, 2013, said Porferio Salidaga Jr., head of Accounts Management of SSS-Maasin Branch, during the cable TV program “Action Center” Thursday. | |||
Last year, SSS also granted a loan condonation program for employers who were unable to remit the payments to the SSS, and many employers did make use of the opportunity, but this time the target recipients are the individual members themselves, Salidaga added. | |||
Dr. Jerome Paler, Medical Specialist II of SSS-Maasin who was also guest of the cable TV program, said that under their area of coverage some P 11 million delinquent accounts were collectible, and some P 5 million of this amount will be condoned under the new program. | |||
Paler advised those delinquent SSS borrowers to visit the SSS office beginning next month for details on this new initiative and fill-up an application form. | |||
According to SSS Circular 2012-005 posted in its website, those who can avail under situation 1a are members whose employers deducted loan amortization from their salaries/separation pay but did not remit said loan amortization to SSS. | |||
For situation 1b, this concerns beneficiaries of deceased members/borrowers with unpaid loans who shall file for death claim within the availment period. | |||
In situation 2, this covers delinquent member-borrowers who have paid at least three monthly amortization since loan takeout. | |||
Situation 3 is for delinquent member-borrowers who shall file for retirement or total disability claim during the availment period. | |||
The circular, however, stressed that as a requirement for situation 1a and situation 2, the three monthly contributions within the last six months must have been paid prior to the month of application for the condonation program. | |||
Salidaga also emphasized that what will be condoned are the overdue charges and penalties only, while the principal amount of the loan must still have to be repaid. (EOPT/MMP-PIA 8, Southern Leyte) | |||
==Photo Gallery of Southern Leyte, Philippines== | ==Photo Gallery of Southern Leyte, Philippines== |