At least 109 branches of the Social Security System (SSS) will be open every Saturday for the whole of September to process applications for the loan restructuring program (LRP) of the pension fund’s members.
Boobie Angela Ocay, SSS assistant vice president in charge of the Member Loans Department, on Wednesday said the project that will start on September 3 is part of the 59th anniversary celebration of the SSS.
The 109 branches nationwide will attend to the fund’s members from 8 a.m. to 5 p.m.
The SSS leadership decided to open on Saturdays this September because, according to Ocay, “We understand that most of our members cannot visit the SSS offices during weekdays given their working schedule, so in celebration of our anniversary month, 109 branches will be open on all Saturdays of September to accept LRP applications.”
She said the LRP is open to members with past due loans for at least six months as of April 28, 2016 when the program was launched.
Qualified applicants are those who reside or work in a calamity area as declared by the National Disaster Risk Reduction and Management Council or the national government, Ocay said.
She explained that under the LRP, penalties are condoned as soon as the outstanding principal and interest on the loan are paid.
In the National Capital Region (NCR or Metro Manila), 43 branches will be open to process the LRP applications.
In Luzon, 31 branches will open, and in Central Visayas and Western Visayas, 14 branches. Mindanao will open 19 branches.
Ocay said members residing or working abroad may also apply for loan restructuring.
“Foreign offices shall put up a special lane to accept and process members’ applications as well as to answer their inquiries related to posting of LRP repayments,” she added.
The SSS has 21 foreign offices.
“Members should bring all the requirements such as identification cards, duly accomplished application form and affidavit of residency to ensure the smooth processing of applications. These forms are downloadable from our website,” Ocay said.
As the SSS relaxes its rules on the LRP, she advised members to “be diligent in their payments whether they are in full or installment.”
“The LRP has a conditional waiver on penalties. Penalties shall only be condoned after full payment of the LRP balance. If [the loan]becomes past due again under restructuring, the penalty will not be condoned,” Ocay said.