Member-borrowers with past due short-term loans may apply for the Social Security System’s penalty condonation program via online using their My.SSS accounts until Feb. 14, 2022.
President and chief executive officer Aurora Ignacio said the short-term member loan penalty condonation program (STMLPCP) is part of the pandemic relief and restructuring programs being offered by SSS.
“We continue to respond to the needs of our members who were greatly affected during this pandemic. Through the STMLPCP. SSS offers conditional loan condonation by waiving their accumulated penalties once their loan principal and interest are fully paid,” she added.
Included in the program are those with outstanding salary, calamity, salary loan early renewal program (SLERP), emergency loans and restructured loan under the loan restructuring program implemented in 2016 to 2019.
“We encourage our member-borrowers to avail of our short-term member loan condonation program. With this program, they can update their loans and avoid further accumulation of penalties,” Ignacio said.
