SSS introduces loan condonation program for individual members. The Social Security System will waive penalties from unpaid loans by delinquent individual member- borrowers. In a press release penned by SSS- Catbalogan branch head Niceta Carretas, starting April 2 until September 3. SSS Circular Number 2. For the beneficiaries of deceased member- borrowers, deadline for availing the program is on March 1. The circular lists four specific situations in which a member borrower or beneficiaries can avail of the said program. Situation 1a covers member- borrowers whose employers deducted their loan amortizations from their salaries/separation pay but did not remit it to SSS. Meanwhile, situation 1b is for beneficiaries of deceased member- borrowers with unpaid loans, who will file for death claim benefits within the availment period. Situation 2 is for delinquent member- borrowers who have paid at least three monthly amortizations since loan take- out. Lastly, situation 3 is for delinquent member- borrowers who shall file for retirement or total disability claim during the availment period. The SSS circular also stressed that for situation 1a and situation 2, three monthly contributions must have been paid within the last six months before filing application for new condonation program. It also emphasized that the program only waives or condones overdue charges and penalties accrued, but the principal amount and interest must still be settled. SSS Condonation Program 2. Internet Philippines. Condonation, or condonance may be made when an accuser has previously forgiven or condoned (in some way or at some level supported) the act about which they are complaining. In some legal jurisdictions, and for certain. Whether you are a freelancer or not, it will benefit you to know that the Philippine Social Security Services or SSS Loan Condonation Program had been extended until March 31, 2013. So if you have an unpaid loan. Com. Google Advertisements. Last year, we have posted a special note featuring the SSS loan condonation program. Origin and Etymology of condonation. Medieval Latin condonatio remission, pardon, from Latin condonare to give away, absolve. Learn More about condonation. Britannica English: Translation of condonation for Arabic speakers. This year, 2. 01. I am giving light to all SSS members so that they may be able to learn more about the said program of the Social Security System in the Philippines and its benefits for loan payment as well as delinquent, unremitted loan amortizations of employees who are members of the SSS. Starting April 2, 2. SSS condonation program will open up to members and individual members. See video below. You can read our previous post above whist here is the answer to your question – what is SSS condonation program. In that link is wher you can find guidelines in your application to the program, who can avail, terms and conditions, how to avail as well as the circular order number where the law to this particular SSS benefit of members belong – CIRCULAR NO. Series of 2. 00. 8. SSS Loan Condonation Program Schedule 2. Do note that there is a schedule of availment for the condonation program benefit for SSS members as well as there are certain terms that must be met and requirements submitted. Make sure to go to the nearest SSS branch before you apply or to the least, make an inquiry. This will help you a lot in knowing the pre- requisites and terms of service. Subscribe to us using the box / form below for updates on this matter regarding your SSS loan and the condonation program 2. Happy New Year! Tags: condonation program, how to avail, payment terms, program mechanics, sss, sss loan, where to apply.
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