The Social Security System (SSS) has launched a new penalty condonation program meant to help members settle their delinquent loans. READ:
SSS president and chief executive officer Michael Regino urged members with unpaid short-term loans to take advantage of the penalty condonation scheme.
“We continuously offer loan penalty condonation programs to help our members settle their loan balances without penalties and regain their good standing with the SSS,” Regino explained. Regino said members may pay their consolidated loan through a one-time payment within 30 calendar days after receiving the approval notice or they may also opt to pay through installment.
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