Monday, 24th November 2014

Click Icon to Share this post

Share

By: Elsa S. Subong

THE SOCIAL Security System has opened its six-month Loan Penalty Condonation Program, starting April 2, for delinquent borrowers to settle their overdue loans.

SSS President and Chief Executive Officer Emilio de Quiros, Jr. said the program offers delinquent borrowers discounted penalties of 50 to 100 percent and ensure their settlement to the full amount of SSS benefits in the future.

De Quiros and some top SSS officials were in Iloilo Thursday for a press briefing and for consultation meetings with employers, pensioners and workers’ groups to gather feedback on the condonation program.

He said there were over a thousand members in Western Visayas with a combined loan delinquency of about P17 million have applied so far.

“We hope other borrowers will file their applications before the program ends on September 30,” De Quiros said.

The program covers delinquent borrowers whose employers failed to remit their loan payments to SSS; beneficiaries of members who dies with unpaid loans; those with at least three paid amortizations; and, members filing retirement or total disability claims within the availment period.

The SSS CEO said members have the option to pay in full or settle in monthly installments of up to 36 months, while beneficiaries of deceased delinquent borrowers can apply for the condonation program until March 31, 2013.

Meanwhile, the SSS has released a total of P132.89 million for salary loans of some 10,200 members in Western Visayas.

De Quiros, said the amount was disbursed during the first quarter of the year, a five percent increase from its P126.89 million loan release for the same period in 2011.

He said salary loans are granted as a privilege of actively-paying SSS members, so they are encouraged to ensure regular payment of contributions to become eligible for salary loans.

Members with a minimum of 36 contributions and at least six premiums within the 12-month period prior to application qualify for a one-month salary loan payable in 24 equal monthly installments, and those with 72, are eligible for a two-month loan.

SSS has 2.15 million members under its Western Visayas Division, which supervises SSS branches in the cities of Bacolod, Bago, Bais, Dumaguete, Kabankalan, Sagay, San Carlos, Victorias, Iloilo and Roxas and in the towns of Kalibo, Aklan and San Jose, Antique.

Opinion new Banner
Click image for full view
City public markets need an anti-corruption system

November 24,2014 12:59 AM

By: Wenceslao E. Mateo Jr.

AFTR two fact-finding hearings on the alleged market anomalies and irregularities at the Iloilo Terminal Market, it is clear that these occurred because of a management and collection system that is highly vulnerable to corrupt activities.

Read more...
NVC phenomenon

November 24,2014 12:58 AM

By: Modesto P. Sao-noy

LAST November 8, I wrote briefly on the Negrense Volunteers for Change as part of my belief that under the leadership of Governor Alfredo Marañon, Jr. change for the better is inevitable.

Read more...
Our Islamic past did us proud

November 24,2014 12:56 AM

By: Perfecto R. Yasay, Jr.

THE widespread influence of Islam throughout the Philippines predates the arrival of the Spaniards by at least 200 years. And yet the imposition of Christianity by a colonial power with a predatory appetite for gold and natural resources swiftly destroyed the various Muslim communities that dotted the large expanse of the archipelago from Luzon, Visayas and Mindanao.  Read more...

Hong Kong media forum

November 24,2014 12:54 AM

By: Jesus "Jess" Dureza

LAST November 15 on my way home from Hong Kong, I was worried while airborne at 38,000 feet on board PAL’s PR307 that I would miss my connecting flight from Manila to Davao to catch up with an event I did not want to miss.  Read more...

The Year of the Poor

November 24,2014 12:50 AM

By: Fr. Roy Cimagala

THE Church, through our bishops, has declared 2015 the Year of the Poor. It’s part of grand 9-year plan of new evangelization in preparation of the celebration of the fifth centenary of the Christianization of the Philippines in 2021. Read more...

Negros News New Banner
Sports News New Banner
Business News New Banner
Community Events new Banner
About Us New banner
Foreign Exchange New Banner
order Newspaper New Banner
Order newspaper
interval banner