Sunday, May 15, 2016

SSS Loan Restructuring Program!

Good news! The Social Security System has launched the Loan Restructuring Program (LRP) for members with past due calamity loans and other short-term loans. To qualify, members live or work in calamity areas as declared by the National Disaster Risk Reduction and Management Council (NDRRMC) or the national government.

The LRP covers calamity loan borrowers in the 1990s following the Mt. Pinatubo eruption and 1990 earthquake, and members with past due short term loans in declared calamity areas after the onslaught of tropical storms and typhoons Ondoy in 2009; Sendong in 2011; Pedring, Quiel and Pablo in 2012; Labuyo, Maring, Santi, Yolanda and Agaton in 2013; Glenda, Mario, Ruby and Seniang in 2014; Lando and Nona in 2015. Also included are the Zamboanga armed conflict and the Bohol-Cebu earthquake which both occurred in 2013.
Apart from installment payments, the borrower can also opt to pay the outstanding principal and interest in full.. For both schemes, SSS shall waive all the loan penalties after the member has completed paying the restructured loan.
The LRP covers short-term SSS loan programs including the Salary Loan, Salary Loan Early Renewal Program (SLERP), Emergency Loan, Calamity Loan, Voc Tech Loan, Y2K Loan, Investments Incentive Loan, Study Now Pay Later Plan, and the previously-offered Educational Loan, which is different from the ongoing Educational Assistance (Educ-Assist) Loan Program. Stock Investment, Privatization Fund and Educ-Assist loans are excluded from the LRP.
To qualify, the loan must be past due for at least six months and the member must be living or working in a declared calamity area as of the date of the disaster attested through an Affidavit of Residency. Members granted any final benefit claim prior to the LRP availment period and those who committed fraud against the SSS are disqualified from the program.


The PVC-type Health Insurance Card (HIC) issued to PhilHealth members in the Formal Economy and Informal Sector on a voluntary basis at a cost of Php 90.00 is a duly recognized valid government-issued identification card which should be honored in all transactions requiring the verification of a person’s identity.
The same ID may also be presented in PhilHealth accredited providers in lieu of the Member’s Data Record (MDR) together with a properly accomplished Claim Form 1 (CF-1) during benefit availment. However, Informal Sector members are still required to present a proof of payment to avail of benefits.
All concerned government agencies, as well as PhilHealth accredited collecting agents, are requested to recognize and include the said HIC in their list of honored IDs.