According to Aurora C. Ignacio, president and chief executive officer of the SSS, the Short-term Member Loan Penalty Condonation Program (STMLPCP) is one of the SSS's Pandemic Relief and Restructuring Programs.
“We continue to respond to the requirements of our members, whose lives were significantly impacted by this pandemic. SSS provides conditional loan condonation by waiving accumulated penalties once loan principal and interest are fully paid through the STMLPCP. Ignacio remarked. ,'_com-medrectangle-3','ezslot_5',191,'0','0'_('div-gpt-ad-_com-medrectangle-3-0');
Those with outstanding Salary, Calamity, Salary Loan Early Renewal Program (SLERP), Emergency Loans, and Restructured Loans under the Loan Restructuring Program (LRP) implemented from 2016 to 2019 are included in the loan condonation program.
Members who meet the following criteria can apply for the program:
Members who have short-term loans that have been unpaid for at least six (6) months as of the first day of the condonation availment period; Members who have not received any final benefits, such as permanent total disability or retirement; Members who will file their final benefits application for permanent total disability or retirement, whose contingency date is on or before the last day of the condonation availment period; Heirs or beneficiaries of deceased member borrowers who will file the death benefit application, whose contingency date is And at the end of the installment term, member-borrowers who will pay off their consolidated loan in installments must be under 65 years old.
The short-term member loan condonation program is something we encourage our borrower members to take advantage of. Ignacio continued, ""They can update their loans with this program and avoid additional penalties."" 300,250], ""_com-medrectangle-4,"" ""ezslot_6,"" 192,"" ""0,"" ""0,"" ""_(""div-gpt-ad-_com-medrectangle-4-0""));
SSS Circular No. 2021-014 contains additional loan penalty condonation program terms and conditions.
Visit the uSSSap Tayo Portal or follow SSS on Facebook, YouTube, Twitter, Instagram, and Viber (MYSSSPH Updates) for updates on SSS programs and benefits.
Tags: System of Social Security (SSS)" - https://www.affordablecebu.com/