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<div><br/></div><div><br/></div><div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/20230706-SSS-branch-FSJ-0559.jpg" style="width:950px" class="fr-fic fr-dib"/><span class="fr-inner" style="text-align:left"><span id="isPasted" style="color:rgb(51, 51, 51);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:pre-wrap;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">Social Security System satellite office at Ali Mall in Quezon City on July 6, 2023. <em>ABS-CBN News/File</em></span><em> </em></span></span></span></div><p>MANILA -- The Social Security System (SSS) on Wednesday said it was consolidating the p<span id="isPasted" style="color:rgb(65, 65, 65);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">ast due short-term</span> loans for some of its members and waiving the penalties for these.</p><p>The SSS said that under its <span dir="ltr" id="isPasted">Consolidation of Past Due Short-Term Member Loans with Condonation of Penalty</span> (Conso Loan) program, it would <span dir="ltr" id="isPasted">combine the principal and interest of a member’s past-due short-term member loans into one consolidated loan, while all unpaid penalties would be consolidated and waived upon full payment of the loan.</span></p><div><span dir="ltr">Those who have unpaid <span dir="ltr" id="isPasted">salary, calamity, emergency, and restructured loans, including the Salary Loan Early Renewal Program (SLERP), may avail of the program, said <span dir="ltr" id="isPasted">SSS executive vice president for investments sector Rizaldy Capulong.</span></span></span></div><div><span dir="ltr"><span dir="ltr" id="isPasted"><span dir="ltr" id="isPasted"><span dir="ltr" id="isPasted">They must not have been granted any final benefit such as permanent total disability or retirement, and have not been disqualified due to fraud committed against the SSS.</span></span></span></span></div><div><span dir="ltr"><span dir="ltr"><span dir="ltr"><span dir="ltr">Capulong said they must also have an active My.SSS account.</span> </span></span></span></div><p><span dir="ltr"><span dir="ltr"></span></span>Members can <span dir="ltr" id="isPasted">pay their consolidated loan through a one-time payment within 30 days after receiving the approval notice, or they may pay through installment.</span></p><div><span dir="ltr" id="isPasted">Those who choose to pay in installments must <span dir="ltr" id="isPasted">pay a down payment equivalent to at least 10 percent of the consolidated loan within 30 days after receiving the approval notice. </span></span></div><div><span dir="ltr"><span dir="ltr">They can pay the remaining balance for up to 60 months. The length of the installment term depends on the amount of the unpaid loan.</span> </span></div><div><span dir="ltr">Paying for past due short-term loans means an SSS member regains his or her good standing and can take out new loans. </span></div><div><span dir="ltr" id="isPasted">More than half a million members have availed of the Conso Loan program as of December 2023, Capulong said. The SSS has <span dir="ltr" id="isPasted">condoned more than P7.3 billion in loan penalties.</span> </span></div><div><a href="https://news.abs-cbn.com/business/02/09/21/sss-salary-loan-vs-pag-ibig-multi-purpose-loan" rel="noopener noreferrer" target="_blank">SSS Salary Loan vs. Pag-IBIG Multi-Purpose Loan</a></div><div><span dir="ltr"><span dir="ltr" id="isPasted"></span></span><br/></div><div><br/></div>

<p>The SSS said it is consolidating the past due short-term loans for some of its members and waiving the penalties for these.</p>

The SSS said it is consolidating the past due short-term loans for some of its members and waiving the penalties for these.

SSS to consolidate, waive penalties on past-due loans

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SSS to consolidate, waive penalties on past-due loans

ABS-CBN News

Published March 06, 2024 01:09 PM PHT

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