GUIDE: How to Pay Past Due SSS Loans the Easy Way

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PHOTO BY Wikimedia Commons/Judgefloro

( The Social Security System has introduced a new program that aims to make payments of past due loans easier for its members as Filipinos continue to grapple with the fallout from the COVID-19 pandemic.

The new penalty condonation program was launched on October 4 to help members pay short-term SSS loans that are past the due date.

Under this program, SSS will combine the principal and interest of a member’s past-due short-term loan into one consolidated loan while all unpaid penalties will be consolidated and condoned upon full payment of the consolidated loan.

“We want to collect the past-due loans from our members. However, we also recognize that the pandemic has greatly affected the livelihood of many of them," SSS president and chief executive officer Michael Region in a statement.

"Hence, we designed this consolidated program to help them settle their loan obligations by condoning the penalties and offering flexible payment terms,” he added.


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Who are qualified to avail this program?

Members who may avail this program are those with outstanding salary loans including those under the Salary Loan Early Renewal Program, calamity loans, emergency loans and restructured loan.

To qualify for the program, members should meet the following requirements:

  • have a past-due short-term member loan at the time of their application;
  • have not been granted any final benefit such as permanent total disability or retirement;
  • have not been disqualified due to fraud committed against the SSS; and  
  • have an active My.SSS account.

Interested members can file their application for the program through their My.SSS account.

How can members pay their SSS loans under the program?

Members may pay their consolidated loan through a one-time payment within 30 calendar days upon the receipt of an approval notice. Alternatively, they may also opt to pay through installment.

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Those who availed the installment scheme should pay a downpayment equivalent to at least 10% of the consolidated loan within 30 calendar days after receiving the approval notice. The remaining balance can be paid in up to 60 months, depending on the amount.

What if you still failed to settle your unpaid SSS loan?

SSS will deduct the outstanding balance of the consolidated loan from the member's short term benefits, such as sickness, maternity, or partial disability benefit claims, and final benefits, such permanent total disability, death, retirement claims, as authorized by the Social Security Commission.

The outstanding balance may also be deducted from the death benefit of the members’ beneficiaries or from the actual final benefit claims.  

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