State-run Social Security System (SSS) has launched a new penalty condonation program that aims to aid its members in paying their past-due loans.
State-run Social Security System has launched a new penalty condonation program that aims to aid its members in paying their past-due loans.
“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 said. In addition, they must not have been disqualified due to fraud committed against the SSS and have an active My.SSS account.
The SSS chief added that the outstanding balance of the consolidated loan can also be deducted from the death benefit of the members’ beneficiaries or deduct it from the actual final benefit claims.
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