SSS Loan Restructuring Program 2021 will commence up to three months starting November 15, 2021.
The Social Security System (SSS) issued the Circular No. 2021-014 entitled “Pandemic Relief and Restructuring Program 5 – Short-Term Member Loan Penalty Condonation Program (STMLPCP)”
Eligibility Requirements for SSS Loan Restructuring Program 2021
1. All member-borrowers with past due* short-term member loan/s whether or not the original or previously restructured term has already expired.
- Salary Loan
- Calamity Loan
- Salary Loan Early Renewal Program (SLERP)
- Emergency Loan; and
- Restructured Loans under the Loan Restructuring Program (LRP) implemented in 2016 to 2019.
*Past due shall mean that the loan is delinquent for a period of at least six (6) months as of the first day of the condonation period.
Read Also: How to Avail the SSS Unemployment Benefit
2. The member-borrower who:
- Are under sixty-five (65) years old at the end of the installment term (for installment payment),
- Have not been granted any final benefit, i.e. permanent total disability or retirement; and
- Have not been disqualified due to fraud committed against the SSS
3. Member-borrowers who will file their final benefits application for permanent total disability or retirement, whose contingency date is on or before the last day of the availment period of the condonation program. Said final benefit claim must be filed within the availment period.
4. Heirs or beneficiaries of deceased member borrowers who will file the death benefit application, whose contingency date is on or before the last day of the availment period of the condonation program. Said death claim must be filed within the availment period.
Guide in Application for SSS Loan Restructuring Program
How to Apply Online
According to SSS Official Facebook Page, the SSS Loan Condonation can be filed online using the My.SSS Member Online Account of qualified member-applicant.