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SSS reminds typhoon-affected members of deadline for loan restructuring in October

by Marje Pelayo   |   Posted on Wednesday, June 20th, 2018

 

TACLOBAN CITY, Philippines – State insurance Social Security System (SSS) reminds members who are among typhoon-affected residents in Tacloban City to avail of the calamity loan restructuring because the program is terminating in October this year.

SSS Tacloban Officer-In-Charge Dr. Lilibeth Cajucom said the restructuring is intended for members who availed calamity loan but are unable to pay their dues.

SSS opened the calamity loan program for victims of typhoons Yolanda, Ruby and Urduja.

“Ang maco-condone ay iyong penalty but they still have to pay for the principal and the interest and they can pay in installment,” explained Cajucom.

Cajucom added that delinquent accounts will have a maximum of five years repayment period depending on the principal amount and interest. She appealed to members to pay their loans accordingly and not to ignore their obligations with the agency.

“Lalaki nang lalaki lang ang interest plus penalty. Ang pag-collect niyan naman ay kapag mag-apply ka na for final claim, death or total disability…So kung ang claim mo ay lump sum lang tapos possible na magsobra pa ang babayaran mo, hahabulin ka pa talaga,” Cajucom warned.

Applicants are advised to bring complete documents such as ID, fully accomplished application form that can be downloaded from the SSS website. – Archyl Egano / Marje Pelayo

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SSS urges delinquent employers to settle unpaid premiums until Sept. 1

by Marje Pelayo   |   Posted on Thursday, June 27th, 2019

MANILA, Philippines – The Social Security System (SSS) reminds all delinquent employers to settle unpaid premiums of their employees as soon as possible.

The agency said delinquent employers are given the chance to settle delinquent contributions through the Contribution Penalty Condonation Program which runs only until September 1, 2019.

The penalty condonation for delinquent contributions, as provided by law, provides assistance to employers even household employers to comply with the SSS Act of 2018.

After the given period, employers who will continue to violate the SSS law will be fined with larger penalties or face imprisonment for ignoring their mandatory obligations under the SSS Law.

According to SSS President and CEO Aurora Ignacio, there are still more than 115,000 delinquent employers who should avail of the program for unpaid premiums based on the agency’s established collectibles.

Ignacio said, if all of the said delinquent employers would settle their unpaid obligations, more than 1.4 million employees would be able to maximize their benefits and privileges as members.

Interested employers are urged to submit their letters of intent to the nearest SSS branch as soon as possible.

Those who are willing to pay their contribution delinquency in full should wait for the branch approval.

Meanwhile, those who wish to settle through installment should submit a proposal to the SSS branch.

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SSS reminds members of new table of monthly contribution

by Maris Federez   |   Posted on Wednesday, April 3rd, 2019

The Social Security System (SSS) has issued a reminder to all members of the new table of contribution.

Through its Twitter account, the agency announced the new SSS Contribution Table that took effect on Monday (April 1) for the applicable month of April 2019.

The new system in payment of monthly contribution is presented in three tables: one is for those who are Employed, Self-Employed, Voluntary Members and Non-Working Spouse; for Household Employers and kasambahay; and for OFW Members.

Members with advance payments at the minimum monthly salary credit (MSC) of P1,000 shall settle underpayments amounting to P6.00 per month; otherwise, such advance payment shall be deemed as ineffective contributions. 

Meanwhile, OFW members with advanced payment at the minimum MSC of 5,000 shall settle underpayments at P30.00 per month.

On the other hand, those with advance payments at an MSC other than the minimum may opt to pay the corresponding increase in contributions to retain posting at the same MSC; otherwise, such advance payment shall be posted at the applicable lower MSC. – Maris Federez

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SSS relaxes rules on pension loan program

by Robie de Guzman   |   Posted on Friday, March 8th, 2019

QUEZON CITY, Philippines – State-run Social Security System (SSS) has eased the application process for the Pension Loan Program (PLP) to make it easier for its more than 1.2 million pensioners.

In a statement issued on March 4, SSS said a retiree-pensioner with an active pension status and with at least more than one month of posted regular pension can avail of the loan program.

“Previously, a retiree pensioner must be receiving his monthly pension for at least six months to qualify for the SSS pension loan. But through our new issuance, even if they are receiving their regular monthly pension for just a month only and it is already posted in the system, they are already qualified to avail of a pension loan,” the statement read.

The agency added that the new guidelines for the PLP application will allow interested loan applicants to use other government-issued identifications cards aside from the Social Security Card or Unified Multi-Purpose Identification (UMID) card as a form of identification document.

These include the alien certificate of registration issued by Bureau of Immigration, driver’s license issued by Land Transportation Office, firearm registration, license to own and process firearms, and Permit to Carry Firearms Outside of Residence from the Philippine National Police, National Bureau of Investigation (NBI) clearance, passport, postal identity card, seafarer’s identification and record book (seaman’s book); and voter’s ID card.

“In absence of a primary ID card or document, filer shall present, submit any two valid ID cards or documents, both with signature and at least one with photo,” the SSS said.

The agency said the pension loan is part of their programs that are aimed at meeting the pensioners’ short-term financial needs.

“We hope that our pensioners opt to avail of the SSS pension loan in times of emergency expenses. Aside from the low-interest rate, we also make sure that they will still receive a portion of their monthly pension so that not all of it goes to loan repayment which is happening now when they borrow from loan sharks,” the SSS said.

“The loanable amount may not be as huge as what others may be offering, but it sure does serve its purpose to assist them in their short-term financial needs such as emergency medical expenses,” the agency added.

The SSS pension loan program was offered to pensioners starting September 2018. This was launched in response to the clamor of senior citizens to put an end to the growing incidence of pensioners falling victims to loan institutions that charge steep interest rates, and to help them with their short-term needs like emergency medical expenses.

As of February 28, 2019, SSS has released P638.33 million in pension loans to qualified pensioners.

Of the 166 SSS branches receiving pension loan applications, Bacolod branch has approved the most number of PLP applications with 1,982, equivalent to more than P41.53 million. Diliman branch, on the other, released the highest amount of pension loans amounting to P41.80 million for the same period. – Robie de Guzman

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