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SSS rolls out new loan penalty condonation program

The Manila Times logo The Manila Times 07/10/2022 Tiziana Celine Piatos
n Social Security System (SSS) members mill about in an office in San Pedro, Laguna. The SSS announced that pensioners who are first-time borrowers may apply for a loan beginning May 30, 2022. PHOTO BY AARON RONQUILLO © Provided by The Manila Times n Social Security System (SSS) members mill about in an office in San Pedro, Laguna. The SSS announced that pensioners who are first-time borrowers may apply for a loan beginning May 30, 2022. PHOTO BY AARON RONQUILLO

THE Social Security System (SSS) announced a new loan penalty condonation program for qualified members, citing the impact of the Covid-19 pandemic.

In a statement obtained by The Manila Times on Friday, the state-run social insurance program said the program shall combine the principal and interest of a member's past-due short-term member loans into one consolidated loan.

At the same time, all unpaid penalties shall be consolidated and condoned upon full payment of the loan.

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