SAN JOSE, Occidental Mindoro (PIA) – Members of the Social Security System (SSS) with unsettled loan payments can avail of its Consolidated Loan Program, waiving penalties for easier payment.

The Consolidated Loan Program which took effect in September 2022, is an affordable payment scheme of SSS for short-term member loans such as salary, calamity, or emergency loans that are past due.

“Yung mga…loan po, iko-consolidate sila para isahang payment na lang tapos mawe-wave po ‘yung penalties na na-incur (Short-term member loans of SSS members will be consolidated and their incurred penalties will be waived),” Rej Precilla of SSS Luzon South 2 Division explained during an interview in Kapihan sa PIA.

SSS loans incur a 1 percent penalty for every month of delayed payment. Precilla highlighted that the program will greatly benefit those who have loans availed in the early 2000s or later.

“May mga members tayo na 1990s pa or early 2000s ‘yung mga loan nila. Actually, sila po ang magbe-benefit dito sa program kasi ‘yung kanilang mga loans ay ‘yung mga sobrang laki na ng na-accumulate na penalties

(We have members who availed loans in the 1990s or early 2000s. They are the ones who will greatly benefit from the program as their loans have accumulated significant penalties.)

Precilla added that the program helps members to regain good standing and be able to maximize their long-term membership benefits like pension or death claim in the future.

 “Ang goal po ng programa ay matulungan ‘yung ating mga members na maunti-unti ‘yung pagbabayad ng kanilang loan…para sa pag-avail nila ng benefits in the future ay hindi naman maantala o mabawas pa ‘yung outstanding loan balance [nila] sa makukuha nilang benefits,”

(The goal of the program is to help the members settle their unpaid loans with ease to avoid having their unsettled loans deducted from their membership benefits), she said.

Members can avail of the program provided that they have past-due short-term member loan at the time of their application, and not been granted any final or long-term benefit such as permanent total disability or retirement benefit. 

Applicants should also have an active SSS portal, and not be disqualified due to fraud.  

Availment of the program can be done using the member’s SSS online portal, and have the option to settle their loans through installment or one-time payment through GCash, Maya, or bank transfer.

Precilla encouraged members who have inactive SSS online portals or are having difficulty accessing their online portal to visit the nearest SSS branch for assistance.

Kapihan sa PIA is a mixed-media program conducted by PIA Occidental Mindoro to help disseminate government programs to reach wide audiences. It is aired via radio and Facebook live on Wednesdays, from 8:30 to 9:30 AM. (DSG/PIA MIMAROPA – Occidental Mindoro)