Sunday, January 15, 2012

SSS Condonation Program

The SSS Condonation Program isn't applicable to me, yet. However, I think that I need to put it here in my blog for my future reference and for those who might come across this blog.

The Social Security System (SSS) said employees, self-employed workers and voluntary members with overdue loans can settle their unpaid principal and interest without paying the full amount of penalties under a new amnesty program that would start on April 2.

Read more about from the SSS Website or download a pdf copy here.

I haven't reach the required number of monthly contributions so I am not yet qualified for any kind of loan from SSS. But I need to be aware of things that can benefit me as an employee in the near future.

The SSS Condonation Program is enabled by R.A 9903. This site provided a good explanation about the said law & program.

For those with existing SSS loans, it is your right to inquire if your employer is really remitting the deductions made on your salary. And for those who want to avail of the condonation program, it is best to inquire directly at the SSS branch nearest you.

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