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Friday, September 02, 2005
SSS recovers P211M from payments
The Social Security System (SSS) has recovered more than P211 million in back payments from delinquent short-term loans, which were collected under a one-year amnesty program that will end on Sept. 30, a top official said yesterday.
SSS President and Chief Executive Officer Corazon de la Paz said that as of June 30, more than 72,000 members nationwide paid their loan balances with the institution.
“SSS is pleased with the response of our members to the amnesty program,” De la Paz said. “We hope more members would avail (themselves) of the condonation as we approach the last stages of the program.”
The amnesty program allows members to settle their liabilities without paying penalities. Under the program, penalties on delinquent salary, calamity, emergency, educational, study-now-pay-later, vocational/technical, student and Y2K loans were written off.
The program also allows members to make a one-time payment to settle their obligations or to pay on installment basis. (From PR)
(September 2, 2005 issue)
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