How can I get my SSS penalty for condonation?

  1. Step 1: Login to Your My.SSS Account.
  2. Step 2: Apply for Loan Penalty Condonation.
  3. Step 3: Select Your Preferred Payment Term.
  4. Step 4: Review and Submit Your Application. Consolidated Loan (One-Time Payment or 50% Downpayment) Restructured Loan (50% Installment)
  5. Step 5: Your Loan Condonation Application Has Been Approved.

Is there any SSS condonation program for 2022?

Social Security System (SSS) President and Chief Executive Officer Michael G. Regino urges members with past-due loans to avail of the Short-Term Member Loan Penalty Condonation Program (STMLPCP) or Pandemic Relief and Restructuring Program 5 (PRRP 5) before it ends on May 14, 2022.

Is condonation in SSS available?

Social Security System (SSS) President and CEO Michael G. Regino today reminded delinquent employers that the deadline for application for its Pandemic Relief and Restructuring Program 2 (PRRP 2), a social security contribution penalty condonation program for business and household employers, will be on May 19, 2022.

Is there any SSS condonation program for 2021?

As a pandemic relief measure for SSS members, those with qualified loans were allowed to avail of the Short-Term Member Loan Penalty Condonation Program between Nov. 15, 2021 and Feb. 14, 2022. Member-borrowers therefore have just a few days to meet the condonation deadline.

What is SSS loan condonation program?

The short-term member loan penalty condonation program will consolidate the total amount of a borrower’s outstanding principal and interest accumulated from past due loans. Settlement can either be a one-time full payment or through installments.

How much is the penalty for late SSS contribution?

Unpaid SSS contributions and penalty for late payments thereon of three percent (3%) per month. Obey the SS Law and its rules and regulations.

Who is eligible for SSS condonation?

As a rule, all SSS member-borrowers with past due short-term loans for at least (6) months as of the first day of condonation period are eligible to apply for STMLPCP. Short-term member loans shall include the following: Salary loan. Calamity loan.

How does SSS condonation work?

Can I fully pay my SSS loan?

Can I pay my SSS loan in full? Yes. To pay your remaining loan balance in full, log in to the SSS member portal and click “RTPL PRN” on the main menu.

What is SSS condonation means?

Through the STMLPCP,SSS offers conditional loan condonation by waiving their accumulated penalties once their loan principal and interest are fully paid.” Ignacio said.

What is SSS loan penalty condonation 2021?

To provide assistance to its affected members and pensioners, the SSS have introduced a new condonation and restructuring loan program called Short-Term Member Loan Penalty Condonation Program (STMLPCP) that will allow members with unpaid SSS loans to settle their outstanding balance under a restructured repayment term …