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The Social Security System (SSS) has earned about 1.3 billion pesos since the first three months of implementation of the Loan Restructuring Program (LRP), benefiting about 200,000 members who will benefit from all the benefits and privileges SSS President and CEO Emmanuel Dooc said that the LRP, which was available as of April 2, was already tolerating more than 3.35 billion penalties, from 200,960 in April to the end of June. When we launched the second LRP in April, we expected to attract 250,000 visitors, but to our surprise, we have already reached 200,000 in three months of LRP implementation and we still have close to three " DoP stated: [TRADUCTION]
"The purpose of LRP is to provide immense financial relief to our members by giving them the opportunity to clean up their loan records. I therefore encourage all borrowers members with short-term loans due to benefit from the program before October 1, "added Mr. Dooc
. The program covers all borrowing members who have outstanding loans such as the salary loan. , Emergency Loan, Student Loan (Former), Study Now Plan, Voc-Tech Loans, Y2K Loans and Investment Loans.
The borrower must reside or work in a disaster area declared by the National Council for Disaster Risk Reduction and Management (NDRRMC), or in the case of Ondoy, by the national government.
To be eligible, the loan must be in arrears for at least six months from the start of the second LRP implementation. The member must live or work in a declared disaster zone at the time of the disaster. Members who have applied for benefits before the PRL availability period and those who have committed SSS fraud are excluded from the program.
"This is to remind our members that they are no longer qualified to benefit from the second PRL they have already used the first LRP in 2016," noted Dooc.
To apply for a matching LRP of a penalty, borrower members must bring their application form, duly completed authorization letter if it is filed by an authorized representative and valid identity cards.
Dooc also reminded members that all SSS branches now accept scanned copies of the letter of authorization received by e-mail from representatives of the member-borrowers applying for the LRP
"Authorized representatives are required to submit the e-mail request of the borrowing member. -reduces two valid identity cards (ID) with photocopy and a clear copy of the email stating both the sender's and the recipient's e-mail address, "a declared Dooc. (PR)
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