stateun Social Security System (SSS) earned about P1.31 billion from the first three months of implementation of the Loan Restructuring Program (LRP) with penalty condonation, benefitting about 200,000 members who will be able to enjoy full benefits and privileges once they have settled their loan under LRP.
SSS President and Chief Executive Officer Emmanuel F. Dooc said the LRP, which was offered starting April 2, already condoned more than P3.35 billion worth of penalties from 200,960 availees in April to end-June period.
“When we launched the second LRP in April, we expected to attract 250,000 recipients but to our surprise, we’ve already reached the 200,000-mark in just three months of LRP implementation and we still have nearly three months to accept more LRP applications,” Dooc said.
”LRP is serving its purpose of providing immense financial relief to our members by giving them the opportunity to clean up their loan records. So I’m encouraging all member-borrowers with past-due short-term loans to avail of the program on or before October 1,” Dooc added.
The program covers all member-borrowers who have past due loans such as Salary Loan, Emergency Loan, Educational Loan (old), Study Now Pay Later Plan, Voc-Tech Loans, Y2K Loans and Investments Incentive Loan. (PIA-!0)
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