For those who have unpaid SSS loans whether recent or years ago SSS now offers Loan Restructuring Program (LRP) for members.
What is Loan Restructuring Program (LRP)
The Social Security System (SSS) has launched the Loan Restructuring Program (LRP) for members with past due calamity loans and other short-term member loans who reside or work in calamity areas as declared by the National Disaster Risk Reduction and Management Council (NDRRMC) or the national government.
SSS Assistant Vice President for Member Loans Department Boobie Angela A. Ocay said.
"The LRP is in response to the widespread clamor from individuals and organizations to alleviate the burden of calamity-stricken workers, who face difficulties in paying their SSS loans after suffering from natural and man-made disasters that have devastated our country in recent years".
The LRP covers:
a) short-term SSS loan programs including the Salary Loan
b) Salary Loan Early Renewal Program (SLERP)
c) Emergency Loan, Calamity Loan
d) Voc Tech Loan
e) Y2K Loan
f) Investments Incentive Loan
g) Study Now Pay Later Plan
h) and the previously-offered Educational Loan, which is different from the ongoing Educational Assistance (Educ-Assist) Loan Program.
Stock Investment, Privatization Fund and Educ-Assist loans are excluded from the LRP.
Who qualifies for the LRP of SSS?
The loan must be past due for at least six months and the member must be living or working in a declared calamity area as of the date of the disaster attested through an Affidavit of Residency.
Members granted any final benefit claim prior to the LRP availment period and those who committed fraud against the SSS are disqualified from the program.
What is Loan Restructuring Program (LRP)
The Social Security System (SSS) has launched the Loan Restructuring Program (LRP) for members with past due calamity loans and other short-term member loans who reside or work in calamity areas as declared by the National Disaster Risk Reduction and Management Council (NDRRMC) or the national government.
SSS Assistant Vice President for Member Loans Department Boobie Angela A. Ocay said.
"The LRP is in response to the widespread clamor from individuals and organizations to alleviate the burden of calamity-stricken workers, who face difficulties in paying their SSS loans after suffering from natural and man-made disasters that have devastated our country in recent years".
The LRP covers:
a) short-term SSS loan programs including the Salary Loan
b) Salary Loan Early Renewal Program (SLERP)
c) Emergency Loan, Calamity Loan
d) Voc Tech Loan
e) Y2K Loan
f) Investments Incentive Loan
g) Study Now Pay Later Plan
h) and the previously-offered Educational Loan, which is different from the ongoing Educational Assistance (Educ-Assist) Loan Program.
Stock Investment, Privatization Fund and Educ-Assist loans are excluded from the LRP.
Who qualifies for the LRP of SSS?
The loan must be past due for at least six months and the member must be living or working in a declared calamity area as of the date of the disaster attested through an Affidavit of Residency.
Members granted any final benefit claim prior to the LRP availment period and those who committed fraud against the SSS are disqualified from the program.
Image from SSS
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