Manila, Philippines – Amid the economic challenges faced by the country, Social Security System (SSS) is exploring options that is aimed at providing fianncial relief to its members.
SSS President and Chief Executive Officer Robert Joseph M. de Claro acknowledges the economic difficulties in this trying times, prompting the company to search ways and measures that may provide immediate relief for its members.
Among the programs being studied is the possible implementation of loan moratorium, as well as a condonation program for contribution penalties.
Loan moratorium shall impose temporary pause or suspension in the repayment period, without halting the loan.
Meanwhile, the condonation program shall offer temporary relief by reducing penalty for members who had delayed payments for their contributions.
SSS evaluates related options including granting extension in payment deadliness for employers and individual paying members’ contributions.
De Claro likewise assured SSS’ active pursuit of digital initiatives to provide easier and quicker processes and services.—Mia Layaguin, Eurotv News