SlideShare une entreprise Scribd logo
1  sur  5
Télécharger pour lire hors ligne
 

     NEW SSS MEMBER LOAN PENALTY CONDONATION 
         PROGRAM FOR INDIVIDUAL MEMBERS 
                     FREQUENTLY ASKED QUESTIONS 

                                                                                                                 
1.    Can a member apply for the program thru the web? 
      Ans:  Yes, the member must do the following: 
      1.1           Register in the SSS website (www.sss.gov.ph) 
      1.2           To register, click “Register Now.” 
      1.3           Select “Member.” 
      1.4         Upon successful registration, Application for Member Loan  Condonation Program is  
                     found in the “Transactions Menu.” 
       
2.    Can a member send a representative to file an application in his behalf? 
      Ans:    Yes,  a  space  for  authorized  representative  is  provided  for  in  the  Application  Form, 
      subject to requirements for identification. 
       
3.    Can  a  member‐applicant  wait  for  the  approval  of  the  application  for  condonation  at  the 
      counter? 
      Ans:  Yes, he may request for the outright issuance of the Notice of Approval at the counter as 
      it requires signature of  the authorized signatory.  Otherwise, the Notice of Approval will be 
      available for pick‐up at the SSS branch where the application was submitted. 
       
4.    If the employee has an authorized representative, does the member‐borrower still has to sign 
      the application, especially if the member‐borrower is abroad? 
      Ans:    If  proof  that  member‐borrower  is  sick  or  employed  abroad,  the  member’s  signature 
      need not be required. 
       
5.    For  members  affected  by  Sendong,  will  there  be  separate  applications  for  Condonation  and 
      Salary Loan Early Renewal Program (SLERP) to avail of the condonation? 
      Ans:  Yes, the tagging of the condonation application must be done first prior to processing of 
      SLERP. 
        
6.    Is the computation of the penalty available in the Program? 
      Ans:    Yes,  the  penalty  amount  will  be  available  and  can  be  viewed  from  the  On‐line  Inquiry 
      System at the counter or thru the web. 
       
7.    Is  one  pay  slip  enough  to  prove  that  the  Employer  deducted  loan  amortization  from  the 
      borrower? 
       
 
       
      Ans:    Yes,  one  month’s  pay  slip  showing  the  deduction  issued  by  the  certifying  employer 
      within the amortization period satisfies the requirement under Situation 1a. 
                  
8.    Will the Program under Situation 1a accept a pay slip/envelope showing deduction made even 
      after the amortization period of the loan? 
      Ans:   Yes, for as long as it refers to the unpaid loan and issued by the certifying employer. 
       
9.    Will  the  Program  allow  an  employee  whose  employer  did  not  deduct  the  outstanding  loan 
      obligation  from  his  separation/retirement  benefits  which  is  required  under  the  SSS  Salary 
      Loan Program? 
      Ans:  No.  The separated/retired employee was aware that his salary loan balance was not 
      deducted from his benefits.  He should have continued paying his loan on his own. 
       
10.   Can  a  member‐borrower  whose  Employer  availed  of  the  Employer  Condonation  but 
      subsequently defaulted in the installment payment avail of the SSS Condonation Program for 
      Individual Members? 
      Ans:  Yes, he is qualified if the account is delinquent for 3 or more months as of 01 April 2012.  
      The balance of condonable penalty under the ER condonation program shall be reverted back 
      to his account. 
       
11.   Will an employee who is included in the Employer’s Condonation Pprogram and is separated 
      from the employer, be allowed to avail of the Individual Condonation Program? 
      Ans:  Yes, if he is delinquent as of 01 April 2012. 
       
12.   What  if  the  employer  is  no  longer  existing  today  per  counter  verification  but  stated  in  the 
      affidavit submitted by the borrower? 
      Ans:  If the certifying employer did not remit amount deducted and ceased operations upon 
      checking, the employee may still qualify under Situation 1a for as long as the deductions were 
      made within the amortization period of the loan. 
       
13.   If an employee is insisting that he did not avail of any SSS salary loan and yet he has a record 
      of  loan  delinquency,  can  he  just  avail  under  Situation    1a    so  as  to  be  able  to  meet  the 
      availment period and later ask for refund? 
      Ans:    Not  under  Situation  1a  but  under  Situation  2,  subject  to  eligibility  requirements  on 
      contributions and loan amortization. 
       
14.   Since  Situation  1a  provides  for  100%  penalty  condonation,  most  of  the  member‐borrowers 
      would  want  to  avail  under  this  situation.    Isn’t  it  proper  for  SSS  to  go  after  the  delinquent 
      employer instead and collect from the employer? 
      Ans:    The  SSS  under  the  law  is  mandated  to  run  after  the  delinquent  employers.    However, 
      since the availment period is only 6 months, the member borrower is advised to avail of the 
      Program and any excess payment (assuming the employer will pay) shall be refunded to the 
      employee upon request. 
       
15.   Will SSS still go after the employer if the loan has been paid by the member‐borrower under 
      the Program? 
 
       
      Ans:  Yes, the SSS will use the affidavit executed by the member for further verification and/or 
      file appropriate case against the employer. 
       
16.   Can  we  allow  partial  payments  within  one  (1)  month  for  Situations  1a  and  2  under  the 
      installment plan? 
      Ans:    Yes,  but  the  payments  must  be  made  before  the  due  date.    Otherwise,  penalties  will 
      accrue and any subsequent payment will be applied to penalty, interest and principal, in that 
      order. 
       
17.   Is condonation automatic for beneficiaries who will apply for death claim within the availment 
      period? 
      Ans:  No, the applicant shall fill up application form for condonation and this shall be attached 
      to his death claim application. 
       
18.   If  an  employee  has  more  than  one  loan  account,  that  is,  salary,  calamity  or  emergency  and 
      only  one  loan  account  has  3  amortization  payments,  will  the  other  loans  qualify  under  the 
      Program? 
      Ans:  No,  only  the  loan  account  with  3  amortization  payments  shall  qualify  under  the 
      Program. 
       
19.   Why do we require that the 3 monthly amortization be posted to qualify a member‐applicant 
      under Situation 2? 
      Ans.  The  3  monthly  amortization  should  be  posted  to  enable  SSS  to  issue  an  updated 
      statement of account of the member‐applicant which shall be the basis for the computation of 
      condonable penalty and amount due. 
       
20.   During  the  1st  year  of  the  loan,  member‐borrower  is  still  employed.      However,  on  the  2nd 
      year, borrower was separated from employment.  What situation can the borrower qualify? 
      Ans:    If  member‐borrower  was  deducted  loan  amortization  in  the  1st  year  but  was  not 
      remitted by  employer,  he will qualify for Situation 1a;  only  one copy of pay‐slip is required.  
      However, if no deductions were made from payroll, he may avail under Situation 2, subject to 
      qualifying conditions. 
       
21.   If  borrower  will  pay  the  required  3  monthly  contributions  for  Jan.,  Feb.  and  March  2012  on 
      April  20  (deadline  for  contribution  payment),  when  can  he  file  his  application  for 
      condonation? 
      Ans:    On  or  after  April  21  until  July  2012  assuming  no  subsequent  contributions  are  paid.  
      However, the member should be encouraged to continue paying his contributions and avail of 
      other SSS benefits in times of contingency. 
       
22.   In  Situation  2,  if  the  remaining  balance  in  principal  and  interest  is  less  than  1  month 
      amortization, is the borrower still required to pay the 3 monthly amortization to avail of the 
      Program? 
      Ans:  Not anymore.  The borrower is qualified to avail of the Program as he has already paid 
      about 23 monthly loan amortization. 
       
 
       
23.   Can the borrower pay any amount in the Monthly Salary Credit (MSC) in order to qualify for 
      condonation? 
      Ans:  If the premium paid is the 1st payment as a voluntary member, the member may choose 
      any  amount  in  the  MSC.    Otherwise,  the  change  in  MSC  may  be  one  or  two  salary  brackets 
      higher or lower than the previous MSC. 
       
24.   Where  will  the  3  monthly  amortization  be  applied  if  member‐borrower  pays  prior    to 
      application for condonation? 
      Ans:  Any loan payments shall be applied to penalties, interest and to the principal of the loan, 
      in that order. 
25.   What is the maximum term of installment? 
      Ans: 3 years but the maturity date of the installment plan shall not exceed age 65. 
       
26.   Are post dated checks required for installment payments?  
      Ans:  No.  Post dated checks are not required in the Condonation Program. 
       
27.   Why does a borrower have to wait for the two/three‐year period before he can renew a loan 
      after availing himself of the Condonation Program? 
      Ans:    Since  SSS  is  foregoing  penalties,  SSS  is  imposing  sanctions  to  member‐borrowers  who 
      were remiss in the payment of loan obligation. 
       
28.   If  mode  of  payment  is  on  installment  basis  and  the  borrower  defaults  in  the  payment  per 
      schedule, what sanctions shall be imposed upon the member? 
      Ans:   Default in the  payment  of monthly installment by at least 2 months shall result in the 
      following: 
      •  Termination of the  approved installment plan; 
      •  Re‐imposition of balance of the condonable penalties; 
      •  Entire loan becomes due and demandable bearing the same interest rate of 3% per annum.    
          Total loan obligation can be deducted from the member’s future benefits; 
      •  Permanent suspension of member’s loan privileges. 
       
29.   Will  a  member  be  allowed  to  pay  in  full  after  12  months  even  if  his  installment  term  is  36 
      months?  Will there be a rebate on interest and when is the renewal date? 
      Ans:  Yes.  The member may fully pay anytime during the installment period based on the 
      outstanding  principal  balance  at  the  time  of  payment.    There  is  no  rebate  of  interest  as 
      interest  computation  is  based  on  diminishing  principal  balance.  Also,  a  member  may  renew 
      his loan 3 years from date of full payment. 
       
30.   If a member has completed the required 120 monthly contributions for retirement, but lacks 
      the  required  3  monthly  contributions  for  the  last  6  months  and  has  the  required  3  monthly 
      amortization prior to application, will he qualify under Situation 2 of the Program? 
      Ans:  No, unless he pays the required 3 monthly contributions for the last six months.  But 
      the member should be aware of the effect of updating his contributions since his pension will 
      start accruing after the last posted contribution. 
       
       
 
       
31.   If a member/beneficiary files a DDR claim, will he still file an application for the Condonation 
      Program? 
      Ans:    Yes,  the  application  for  condonation  shall  be  filed  simultaneous  with  the  filing  of  DDR 
      claim. 
32.   If a member is due for retirement in February 2012, can he postpone filing of application for 
      retirement in order to avail of the Program? 
      Ans:  Yes.  The program covers members whose applications for retirement will be filed from 
      02 April 2012 to 30 September 2012, regardless of date of contingency. 
       
33.   If DDR application is refiled after the availment period due to compliance by the member of 
      certain requirements, is he qualified to avail of  the Program since his initial filing was  made 
      during the availment period? 
      Ans:  No,  because  the  filing  date  in  DDR  database  will  be  automatically  replaced  by  the 
      refiling date.  The member should be advised to comply with the DDR requirements and re‐
      submit the application within the availment peiod. 
       
34.   Will the Program allow a member to avail and deduct partial payments from his  pensions? 
      Ans:  No, the total outstanding loan balance is deducted in full from the retirement benefit. 
       
35.   Can a member‐borrower file retirement even if the installment is still in effect? 
      Ans:  Yes, but remaining penalties will be deducted from the retirement claim.  This is true to 
      member‐borrowers whose installment plan will mature after age 60 but prior to age 65 and 
      opts to retire. 
       
36.   Will  a  member  who  is  about  to  retire  or  about  to  file  a  total  disability  claim  qualify  under 
      Situation  1a  since  his  employer  deducted  loan  amortization  from  his  pay/salary  but  did  not 
      remit to SSS? 
      Ans:  Yes.  He shall file an application for condonation first, and pay the required amount due 
      prior to filing of retirement so that the penalties to be waived is 100%.  Otherwise, only 50% 
      of the penalties is waived and the balance to be deducted from the benefits.    
       
37.   Can a member who availed of the Program under Situation 2 still avail of the 50% condonation 
      under Situation 3 when he files his DDR claim? 
      Ans.  Not anymore as his loan is considered fully paid under Situation 2. 
       
38.   Will  members  who  have  no  prior  knowledge  of  the  Program  and  learn  about  it  beyond  the 
      availment period be allowed to request for reconsideration to avail of the Program? 
      Ans:  No, because the availment period of the program has already expired 
       
39.   Can  the  employees  who  will  avail  of  the  condonation  authorize  the  employer  to  deduct  the 
      installment payments? 
      Ans:    Yes,  however,  the  remittance  should  be  separate  from  the  regularly  paying  member‐
      employees  and  SS  Form  ML‐1  (Monthly  –  Salary/Calamity/Educational/Emergency/Stock 
      Investment Loan Payment Return) shall be used. 
       
                                                                                                Revised: March 21, 2012 

Contenu connexe

Tendances

Lease BG/SBLC HSBC London Price (6+2)
Lease BG/SBLC HSBC London Price (6+2)Lease BG/SBLC HSBC London Price (6+2)
Lease BG/SBLC HSBC London Price (6+2)SGT K. K. Group
 
CDA SPMS Rating Scale
CDA SPMS Rating ScaleCDA SPMS Rating Scale
CDA SPMS Rating Scalejo bitonio
 
Presentation on advance tax
Presentation on advance taxPresentation on advance tax
Presentation on advance taxPooja Gupta
 
California anti slapp law (statute 425-16(e)(1-4)
California anti slapp law (statute 425-16(e)(1-4)California anti slapp law (statute 425-16(e)(1-4)
California anti slapp law (statute 425-16(e)(1-4)VogelDenise
 
File opening and control of files procedure
File opening and control of files procedureFile opening and control of files procedure
File opening and control of files procedureVal Antoff
 
extrajudicial with waiver
extrajudicial with waiverextrajudicial with waiver
extrajudicial with waiverAttyAlbertAzura
 
Maintenance of service book and leave account.bose
Maintenance of service book and leave account.boseMaintenance of service book and leave account.bose
Maintenance of service book and leave account.boseShankar Bose Sbose1958
 
Staff handbook proposal
Staff handbook proposalStaff handbook proposal
Staff handbook proposalomobolade
 
Eat core bundle rule 3(10) hearing
Eat core bundle rule 3(10) hearingEat core bundle rule 3(10) hearing
Eat core bundle rule 3(10) hearingDouglas GARDINER
 
Handing over notes in the service
Handing over notes in the serviceHanding over notes in the service
Handing over notes in the serviceOnike Rahaman
 
MyInfo User Journey-Sample(joint)
MyInfo User Journey-Sample(joint)MyInfo User Journey-Sample(joint)
MyInfo User Journey-Sample(joint)Huang Junqi
 
TDS Under section 194IA & 194A
TDS Under section 194IA & 194ATDS Under section 194IA & 194A
TDS Under section 194IA & 194AAdmin SBS
 
Assessment Under section 143
Assessment Under section 143Assessment Under section 143
Assessment Under section 143Pallav Dodrajka
 
Cheque Book Request Letter Format
Cheque Book Request Letter FormatCheque Book Request Letter Format
Cheque Book Request Letter FormatYour HR World
 
Division memorandum no. 24, s. 2020
Division memorandum no. 24, s. 2020Division memorandum no. 24, s. 2020
Division memorandum no. 24, s. 2020FrontonOronan
 

Tendances (20)

Lease BG/SBLC HSBC London Price (6+2)
Lease BG/SBLC HSBC London Price (6+2)Lease BG/SBLC HSBC London Price (6+2)
Lease BG/SBLC HSBC London Price (6+2)
 
CDA SPMS Rating Scale
CDA SPMS Rating ScaleCDA SPMS Rating Scale
CDA SPMS Rating Scale
 
Presentation on advance tax
Presentation on advance taxPresentation on advance tax
Presentation on advance tax
 
F-1 OPT, H1B & CAP GAP: All About It
F-1 OPT, H1B & CAP GAP: All About ItF-1 OPT, H1B & CAP GAP: All About It
F-1 OPT, H1B & CAP GAP: All About It
 
Pf presentation
Pf presentationPf presentation
Pf presentation
 
California anti slapp law (statute 425-16(e)(1-4)
California anti slapp law (statute 425-16(e)(1-4)California anti slapp law (statute 425-16(e)(1-4)
California anti slapp law (statute 425-16(e)(1-4)
 
File opening and control of files procedure
File opening and control of files procedureFile opening and control of files procedure
File opening and control of files procedure
 
extrajudicial with waiver
extrajudicial with waiverextrajudicial with waiver
extrajudicial with waiver
 
Maintenance of service book and leave account.bose
Maintenance of service book and leave account.boseMaintenance of service book and leave account.bose
Maintenance of service book and leave account.bose
 
SBLC Monetization OpuFund-Malaysia
SBLC Monetization OpuFund-MalaysiaSBLC Monetization OpuFund-Malaysia
SBLC Monetization OpuFund-Malaysia
 
Staff handbook proposal
Staff handbook proposalStaff handbook proposal
Staff handbook proposal
 
Eat core bundle rule 3(10) hearing
Eat core bundle rule 3(10) hearingEat core bundle rule 3(10) hearing
Eat core bundle rule 3(10) hearing
 
Handing over notes in the service
Handing over notes in the serviceHanding over notes in the service
Handing over notes in the service
 
MyInfo User Journey-Sample(joint)
MyInfo User Journey-Sample(joint)MyInfo User Journey-Sample(joint)
MyInfo User Journey-Sample(joint)
 
TDS Under section 194IA & 194A
TDS Under section 194IA & 194ATDS Under section 194IA & 194A
TDS Under section 194IA & 194A
 
Eps95 update102008
Eps95 update102008Eps95 update102008
Eps95 update102008
 
Assessment Under section 143
Assessment Under section 143Assessment Under section 143
Assessment Under section 143
 
Cheque Book Request Letter Format
Cheque Book Request Letter FormatCheque Book Request Letter Format
Cheque Book Request Letter Format
 
Procedures assesment
Procedures assesmentProcedures assesment
Procedures assesment
 
Division memorandum no. 24, s. 2020
Division memorandum no. 24, s. 2020Division memorandum no. 24, s. 2020
Division memorandum no. 24, s. 2020
 

En vedette

2012 Condonation Program
2012 Condonation Program2012 Condonation Program
2012 Condonation ProgramSSS Philippines
 
List of SSS acquired properties for sale
List of SSS acquired properties for saleList of SSS acquired properties for sale
List of SSS acquired properties for saleSSS Philippines
 
SSS Advisory on RTS (Return-to-Sender) UMID Cards
SSS Advisory on RTS (Return-to-Sender) UMID CardsSSS Advisory on RTS (Return-to-Sender) UMID Cards
SSS Advisory on RTS (Return-to-Sender) UMID CardsSSS Philippines
 
SSS Circular No. 2011_003
SSS Circular No. 2011_003SSS Circular No. 2011_003
SSS Circular No. 2011_003SSS Philippines
 
SSS Web site Registration FAQs
SSS Web site Registration FAQsSSS Web site Registration FAQs
SSS Web site Registration FAQsSSS Philippines
 
Problem Statement 06 BENEFICIARY - Who exactly will benefit from the proposal
Problem Statement 06 BENEFICIARY - Who exactly will benefit from the proposalProblem Statement 06 BENEFICIARY - Who exactly will benefit from the proposal
Problem Statement 06 BENEFICIARY - Who exactly will benefit from the proposalJaime Alfredo Cabrera
 
Huawei S5700 Basic Configuration Command
Huawei S5700 Basic Configuration CommandHuawei S5700 Basic Configuration Command
Huawei S5700 Basic Configuration CommandHuanetwork
 

En vedette (14)

SSS Condonation Program
SSS Condonation ProgramSSS Condonation Program
SSS Condonation Program
 
Ang ra 9507
Ang ra 9507Ang ra 9507
Ang ra 9507
 
2012 Condonation Program
2012 Condonation Program2012 Condonation Program
2012 Condonation Program
 
List of SSS acquired properties for sale
List of SSS acquired properties for saleList of SSS acquired properties for sale
List of SSS acquired properties for sale
 
SSS Advisory on RTS (Return-to-Sender) UMID Cards
SSS Advisory on RTS (Return-to-Sender) UMID CardsSSS Advisory on RTS (Return-to-Sender) UMID Cards
SSS Advisory on RTS (Return-to-Sender) UMID Cards
 
Cir2013 001
Cir2013 001Cir2013 001
Cir2013 001
 
SSS Circular 2013-010
SSS Circular 2013-010SSS Circular 2013-010
SSS Circular 2013-010
 
SSS Circular 2013-015
SSS Circular 2013-015SSS Circular 2013-015
SSS Circular 2013-015
 
SSS Circular No. 2011_003
SSS Circular No. 2011_003SSS Circular No. 2011_003
SSS Circular No. 2011_003
 
Registration form it
Registration form itRegistration form it
Registration form it
 
SSS Web site Registration FAQs
SSS Web site Registration FAQsSSS Web site Registration FAQs
SSS Web site Registration FAQs
 
Problem Statement 06 BENEFICIARY - Who exactly will benefit from the proposal
Problem Statement 06 BENEFICIARY - Who exactly will benefit from the proposalProblem Statement 06 BENEFICIARY - Who exactly will benefit from the proposal
Problem Statement 06 BENEFICIARY - Who exactly will benefit from the proposal
 
Huawei S5700 Basic Configuration Command
Huawei S5700 Basic Configuration CommandHuawei S5700 Basic Configuration Command
Huawei S5700 Basic Configuration Command
 
SSS Benefits
SSS BenefitsSSS Benefits
SSS Benefits
 

Similaire à FAQs on the Penalty Condonation Program

Mandate Form For Payment Of LICI Premium By ECS
Mandate Form For Payment Of LICI Premium By ECSMandate Form For Payment Of LICI Premium By ECS
Mandate Form For Payment Of LICI Premium By ECSIndialic .in
 
Presentation PF&ESI.ppt
Presentation PF&ESI.pptPresentation PF&ESI.ppt
Presentation PF&ESI.pptsuresh874919
 
04-18-20 - Managing Your Paycheck Protection Program Loan
04-18-20 - Managing Your Paycheck Protection Program Loan04-18-20 - Managing Your Paycheck Protection Program Loan
04-18-20 - Managing Your Paycheck Protection Program LoanJenniferKelley47
 
Making the Most of PPP Loans
Making the Most of PPP LoansMaking the Most of PPP Loans
Making the Most of PPP LoansErin Hawk
 
Coop loan guidelines
Coop loan guidelinesCoop loan guidelines
Coop loan guidelinesJay de Jorge
 
PERAA MPL Revised Form
PERAA MPL Revised FormPERAA MPL Revised Form
PERAA MPL Revised FormFhc Rojo
 
Pag ibig - hdmf application form aug 09 092809
Pag ibig - hdmf application form aug 09 092809Pag ibig - hdmf application form aug 09 092809
Pag ibig - hdmf application form aug 09 092809simplejd
 
CGTMSE by MR. SAROJ K SWAIN
CGTMSE by MR. SAROJ K SWAINCGTMSE by MR. SAROJ K SWAIN
CGTMSE by MR. SAROJ K SWAINSarojSwain18
 
Pag ibig multi-purpose application form
Pag ibig multi-purpose application formPag ibig multi-purpose application form
Pag ibig multi-purpose application formalainquintos
 
DIFC Employee Workplace Savings Plan.pdf
DIFC Employee Workplace Savings Plan.pdfDIFC Employee Workplace Savings Plan.pdf
DIFC Employee Workplace Savings Plan.pdfFiyona Nourin
 
Student Loan Forgiveness Program
Student Loan Forgiveness ProgramStudent Loan Forgiveness Program
Student Loan Forgiveness ProgramStudent Debt Center
 
Final Settlement Calculations in UAE.pdf
Final Settlement Calculations in UAE.pdfFinal Settlement Calculations in UAE.pdf
Final Settlement Calculations in UAE.pdfFiyona Nourin
 
Frequently Asked Questions on SBI Lower Tier II Bonds
Frequently Asked Questions on SBI Lower Tier II BondsFrequently Asked Questions on SBI Lower Tier II Bonds
Frequently Asked Questions on SBI Lower Tier II BondsFullerton Securities
 

Similaire à FAQs on the Penalty Condonation Program (20)

PF AND ESIC
PF AND ESICPF AND ESIC
PF AND ESIC
 
PF AND ESIC
PF AND ESICPF AND ESIC
PF AND ESIC
 
PM suraksha bima yojna
PM suraksha bima  yojnaPM suraksha bima  yojna
PM suraksha bima yojna
 
Mandate Form For Payment Of LICI Premium By ECS
Mandate Form For Payment Of LICI Premium By ECSMandate Form For Payment Of LICI Premium By ECS
Mandate Form For Payment Of LICI Premium By ECS
 
Presentation PF&ESI.ppt
Presentation PF&ESI.pptPresentation PF&ESI.ppt
Presentation PF&ESI.ppt
 
04-18-20 - Managing Your Paycheck Protection Program Loan
04-18-20 - Managing Your Paycheck Protection Program Loan04-18-20 - Managing Your Paycheck Protection Program Loan
04-18-20 - Managing Your Paycheck Protection Program Loan
 
Making the Most of PPP Loans
Making the Most of PPP LoansMaking the Most of PPP Loans
Making the Most of PPP Loans
 
MTB Deposit Scheme Products
MTB Deposit Scheme ProductsMTB Deposit Scheme Products
MTB Deposit Scheme Products
 
5 Provident Fund
5 Provident Fund5 Provident Fund
5 Provident Fund
 
Coop loan guidelines
Coop loan guidelinesCoop loan guidelines
Coop loan guidelines
 
PERAA MPL Revised Form
PERAA MPL Revised FormPERAA MPL Revised Form
PERAA MPL Revised Form
 
Pag ibig - hdmf application form aug 09 092809
Pag ibig - hdmf application form aug 09 092809Pag ibig - hdmf application form aug 09 092809
Pag ibig - hdmf application form aug 09 092809
 
CGTMSE by MR. SAROJ K SWAIN
CGTMSE by MR. SAROJ K SWAINCGTMSE by MR. SAROJ K SWAIN
CGTMSE by MR. SAROJ K SWAIN
 
Pag ibig multi-purpose application form
Pag ibig multi-purpose application formPag ibig multi-purpose application form
Pag ibig multi-purpose application form
 
DIFC Employee Workplace Savings Plan.pdf
DIFC Employee Workplace Savings Plan.pdfDIFC Employee Workplace Savings Plan.pdf
DIFC Employee Workplace Savings Plan.pdf
 
Student Loan Forgiveness Program
Student Loan Forgiveness ProgramStudent Loan Forgiveness Program
Student Loan Forgiveness Program
 
Loan presentation 2021 .pptx
Loan presentation 2021 .pptxLoan presentation 2021 .pptx
Loan presentation 2021 .pptx
 
Final Settlement Calculations in UAE.pdf
Final Settlement Calculations in UAE.pdfFinal Settlement Calculations in UAE.pdf
Final Settlement Calculations in UAE.pdf
 
Frequently Asked Questions on SBI Lower Tier II Bonds
Frequently Asked Questions on SBI Lower Tier II BondsFrequently Asked Questions on SBI Lower Tier II Bonds
Frequently Asked Questions on SBI Lower Tier II Bonds
 
Pm jeevan jyoti bima
Pm jeevan jyoti bimaPm jeevan jyoti bima
Pm jeevan jyoti bima
 

Plus de SSS Philippines

Implemeting rules (No Gift Policy)
Implemeting rules (No Gift Policy)Implemeting rules (No Gift Policy)
Implemeting rules (No Gift Policy)SSS Philippines
 
SSS Branches with Data Capture Service (as of April 2014)
SSS Branches with Data Capture Service (as of April 2014)SSS Branches with Data Capture Service (as of April 2014)
SSS Branches with Data Capture Service (as of April 2014)SSS Philippines
 
SSS Advisory on RTS (Return-to-Sender) UMID Cards
SSS Advisory on RTS (Return-to-Sender) UMID CardsSSS Advisory on RTS (Return-to-Sender) UMID Cards
SSS Advisory on RTS (Return-to-Sender) UMID CardsSSS Philippines
 
The New SSS Contribution Schedule
The New SSS Contribution ScheduleThe New SSS Contribution Schedule
The New SSS Contribution ScheduleSSS Philippines
 
SSS Briefing and On site Services for OFWs
SSS Briefing and On site Services for OFWsSSS Briefing and On site Services for OFWs
SSS Briefing and On site Services for OFWsSSS Philippines
 
SSS Kasambahay Registration Procedures
SSS Kasambahay Registration ProceduresSSS Kasambahay Registration Procedures
SSS Kasambahay Registration ProceduresSSS Philippines
 
List of SSS Branches with ID Enrollment Facilities
List of SSS Branches with ID Enrollment FacilitiesList of SSS Branches with ID Enrollment Facilities
List of SSS Branches with ID Enrollment FacilitiesSSS Philippines
 
Status of 2012 Plans and Programs
Status of 2012 Plans and ProgramsStatus of 2012 Plans and Programs
Status of 2012 Plans and ProgramsSSS Philippines
 
2012 Corporate Operating Budget
2012 Corporate Operating Budget2012 Corporate Operating Budget
2012 Corporate Operating BudgetSSS Philippines
 
Malacanang Palace: Executive Order No. 97
Malacanang Palace: Executive Order No. 97Malacanang Palace: Executive Order No. 97
Malacanang Palace: Executive Order No. 97SSS Philippines
 

Plus de SSS Philippines (20)

SSS Payment Deadline
SSS Payment DeadlineSSS Payment Deadline
SSS Payment Deadline
 
Sss Payment deadline
Sss Payment deadlineSss Payment deadline
Sss Payment deadline
 
Sss Payment Deadline
Sss Payment DeadlineSss Payment Deadline
Sss Payment Deadline
 
Implemeting rules (No Gift Policy)
Implemeting rules (No Gift Policy)Implemeting rules (No Gift Policy)
Implemeting rules (No Gift Policy)
 
SSS Branches with Data Capture Service (as of April 2014)
SSS Branches with Data Capture Service (as of April 2014)SSS Branches with Data Capture Service (as of April 2014)
SSS Branches with Data Capture Service (as of April 2014)
 
SSS Citizens Charter
SSS Citizens CharterSSS Citizens Charter
SSS Citizens Charter
 
SSS Circular 2013-014
SSS Circular 2013-014SSS Circular 2013-014
SSS Circular 2013-014
 
SSS Circular 2013-013
 SSS Circular 2013-013 SSS Circular 2013-013
SSS Circular 2013-013
 
SSS Advisory on RTS (Return-to-Sender) UMID Cards
SSS Advisory on RTS (Return-to-Sender) UMID CardsSSS Advisory on RTS (Return-to-Sender) UMID Cards
SSS Advisory on RTS (Return-to-Sender) UMID Cards
 
The New SSS Contribution Schedule
The New SSS Contribution ScheduleThe New SSS Contribution Schedule
The New SSS Contribution Schedule
 
SSS Circular 2013-009
SSS Circular 2013-009SSS Circular 2013-009
SSS Circular 2013-009
 
SSS Briefing and On site Services for OFWs
SSS Briefing and On site Services for OFWsSSS Briefing and On site Services for OFWs
SSS Briefing and On site Services for OFWs
 
SSS Circular 2013 008
SSS Circular 2013 008SSS Circular 2013 008
SSS Circular 2013 008
 
SSS Kasambahay Registration Procedures
SSS Kasambahay Registration ProceduresSSS Kasambahay Registration Procedures
SSS Kasambahay Registration Procedures
 
List of SSS Branches with ID Enrollment Facilities
List of SSS Branches with ID Enrollment FacilitiesList of SSS Branches with ID Enrollment Facilities
List of SSS Branches with ID Enrollment Facilities
 
Circular 2013-001
Circular 2013-001Circular 2013-001
Circular 2013-001
 
Status of 2012 Plans and Programs
Status of 2012 Plans and ProgramsStatus of 2012 Plans and Programs
Status of 2012 Plans and Programs
 
2012 Corporate Operating Budget
2012 Corporate Operating Budget2012 Corporate Operating Budget
2012 Corporate Operating Budget
 
Malacanang Palace: Executive Order No. 97
Malacanang Palace: Executive Order No. 97Malacanang Palace: Executive Order No. 97
Malacanang Palace: Executive Order No. 97
 
Circular 2012-016
Circular 2012-016Circular 2012-016
Circular 2012-016
 

Dernier

Pakistan Propaganda Needs Effective Rebuttal.
Pakistan Propaganda Needs Effective Rebuttal.Pakistan Propaganda Needs Effective Rebuttal.
Pakistan Propaganda Needs Effective Rebuttal.Nilendra Kumar
 
A young black boy that lives in the ghetto
A young black boy that lives in the ghettoA young black boy that lives in the ghetto
A young black boy that lives in the ghettoterryhords56
 
10032024_First India Newspaper Jaipur.pdf
10032024_First India Newspaper Jaipur.pdf10032024_First India Newspaper Jaipur.pdf
10032024_First India Newspaper Jaipur.pdfFIRST INDIA
 
Dep.Baptista.Jr - Termo de depoimento
Dep.Baptista.Jr - Termo de depoimentoDep.Baptista.Jr - Termo de depoimento
Dep.Baptista.Jr - Termo de depoimentoEditora 247
 
Dep. Freire Gomes - Termo de depoimento.
Dep. Freire Gomes - Termo de depoimento.Dep. Freire Gomes - Termo de depoimento.
Dep. Freire Gomes - Termo de depoimento.Editora 247
 
Industrial Air Pollution studying Bhopal Gas Tragedy and Its impact in ecolog...
Industrial Air Pollution studying Bhopal Gas Tragedy and Its impact in ecolog...Industrial Air Pollution studying Bhopal Gas Tragedy and Its impact in ecolog...
Industrial Air Pollution studying Bhopal Gas Tragedy and Its impact in ecolog...Hem Chand
 
Understanding of Post-Event Press Release .pdf
Understanding of Post-Event Press Release .pdfUnderstanding of Post-Event Press Release .pdf
Understanding of Post-Event Press Release .pdfprnewswireagency
 
Court Denies Rust Request for an Injunction to stay on the ballot
Court Denies Rust Request for an Injunction to stay on the ballotCourt Denies Rust Request for an Injunction to stay on the ballot
Court Denies Rust Request for an Injunction to stay on the ballotAbdul-Hakim Shabazz
 

Dernier (9)

Pakistan Propaganda Needs Effective Rebuttal.
Pakistan Propaganda Needs Effective Rebuttal.Pakistan Propaganda Needs Effective Rebuttal.
Pakistan Propaganda Needs Effective Rebuttal.
 
A young black boy that lives in the ghetto
A young black boy that lives in the ghettoA young black boy that lives in the ghetto
A young black boy that lives in the ghetto
 
10032024_First India Newspaper Jaipur.pdf
10032024_First India Newspaper Jaipur.pdf10032024_First India Newspaper Jaipur.pdf
10032024_First India Newspaper Jaipur.pdf
 
Dep.Baptista.Jr - Termo de depoimento
Dep.Baptista.Jr - Termo de depoimentoDep.Baptista.Jr - Termo de depoimento
Dep.Baptista.Jr - Termo de depoimento
 
Dep. Freire Gomes - Termo de depoimento.
Dep. Freire Gomes - Termo de depoimento.Dep. Freire Gomes - Termo de depoimento.
Dep. Freire Gomes - Termo de depoimento.
 
Industrial Air Pollution studying Bhopal Gas Tragedy and Its impact in ecolog...
Industrial Air Pollution studying Bhopal Gas Tragedy and Its impact in ecolog...Industrial Air Pollution studying Bhopal Gas Tragedy and Its impact in ecolog...
Industrial Air Pollution studying Bhopal Gas Tragedy and Its impact in ecolog...
 
Understanding of Post-Event Press Release .pdf
Understanding of Post-Event Press Release .pdfUnderstanding of Post-Event Press Release .pdf
Understanding of Post-Event Press Release .pdf
 
Why democracy dies in Trumpian boredom (by Edward Luce)
Why democracy dies in Trumpian boredom (by Edward Luce)Why democracy dies in Trumpian boredom (by Edward Luce)
Why democracy dies in Trumpian boredom (by Edward Luce)
 
Court Denies Rust Request for an Injunction to stay on the ballot
Court Denies Rust Request for an Injunction to stay on the ballotCourt Denies Rust Request for an Injunction to stay on the ballot
Court Denies Rust Request for an Injunction to stay on the ballot
 

FAQs on the Penalty Condonation Program

  • 1.   NEW SSS MEMBER LOAN PENALTY CONDONATION  PROGRAM FOR INDIVIDUAL MEMBERS  FREQUENTLY ASKED QUESTIONS    1. Can a member apply for the program thru the web?  Ans:  Yes, the member must do the following:  1.1  Register in the SSS website (www.sss.gov.ph)  1.2  To register, click “Register Now.”  1.3  Select “Member.”  1.4         Upon successful registration, Application for Member Loan  Condonation Program is                  found in the “Transactions Menu.”    2. Can a member send a representative to file an application in his behalf?  Ans:    Yes,  a  space  for  authorized  representative  is  provided  for  in  the  Application  Form,  subject to requirements for identification.    3. Can  a  member‐applicant  wait  for  the  approval  of  the  application  for  condonation  at  the  counter?  Ans:  Yes, he may request for the outright issuance of the Notice of Approval at the counter as  it requires signature of  the authorized signatory.  Otherwise, the Notice of Approval will be  available for pick‐up at the SSS branch where the application was submitted.    4. If the employee has an authorized representative, does the member‐borrower still has to sign  the application, especially if the member‐borrower is abroad?  Ans:    If  proof  that  member‐borrower  is  sick  or  employed  abroad,  the  member’s  signature  need not be required.    5. For  members  affected  by  Sendong,  will  there  be  separate  applications  for  Condonation  and  Salary Loan Early Renewal Program (SLERP) to avail of the condonation?  Ans:  Yes, the tagging of the condonation application must be done first prior to processing of  SLERP.     6. Is the computation of the penalty available in the Program?  Ans:    Yes,  the  penalty  amount  will  be  available  and  can  be  viewed  from  the  On‐line  Inquiry  System at the counter or thru the web.    7. Is  one  pay  slip  enough  to  prove  that  the  Employer  deducted  loan  amortization  from  the  borrower?   
  • 2.     Ans:    Yes,  one  month’s  pay  slip  showing  the  deduction  issued  by  the  certifying  employer  within the amortization period satisfies the requirement under Situation 1a.               8. Will the Program under Situation 1a accept a pay slip/envelope showing deduction made even  after the amortization period of the loan?  Ans:   Yes, for as long as it refers to the unpaid loan and issued by the certifying employer.    9. Will  the  Program  allow  an  employee  whose  employer  did  not  deduct  the  outstanding  loan  obligation  from  his  separation/retirement  benefits  which  is  required  under  the  SSS  Salary  Loan Program?  Ans:  No.  The separated/retired employee was aware that his salary loan balance was not  deducted from his benefits.  He should have continued paying his loan on his own.    10. Can  a  member‐borrower  whose  Employer  availed  of  the  Employer  Condonation  but  subsequently defaulted in the installment payment avail of the SSS Condonation Program for  Individual Members?  Ans:  Yes, he is qualified if the account is delinquent for 3 or more months as of 01 April 2012.   The balance of condonable penalty under the ER condonation program shall be reverted back  to his account.    11. Will an employee who is included in the Employer’s Condonation Pprogram and is separated  from the employer, be allowed to avail of the Individual Condonation Program?  Ans:  Yes, if he is delinquent as of 01 April 2012.    12. What  if  the  employer  is  no  longer  existing  today  per  counter  verification  but  stated  in  the  affidavit submitted by the borrower?  Ans:  If the certifying employer did not remit amount deducted and ceased operations upon  checking, the employee may still qualify under Situation 1a for as long as the deductions were  made within the amortization period of the loan.    13. If an employee is insisting that he did not avail of any SSS salary loan and yet he has a record  of  loan  delinquency,  can  he  just  avail  under  Situation    1a    so  as  to  be  able  to  meet  the  availment period and later ask for refund?  Ans:    Not  under  Situation  1a  but  under  Situation  2,  subject  to  eligibility  requirements  on  contributions and loan amortization.    14. Since  Situation  1a  provides  for  100%  penalty  condonation,  most  of  the  member‐borrowers  would  want  to  avail  under  this  situation.    Isn’t  it  proper  for  SSS  to  go  after  the  delinquent  employer instead and collect from the employer?  Ans:    The  SSS  under  the  law  is  mandated  to  run  after  the  delinquent  employers.    However,  since the availment period is only 6 months, the member borrower is advised to avail of the  Program and any excess payment (assuming the employer will pay) shall be refunded to the  employee upon request.    15. Will SSS still go after the employer if the loan has been paid by the member‐borrower under  the Program? 
  • 3.     Ans:  Yes, the SSS will use the affidavit executed by the member for further verification and/or  file appropriate case against the employer.    16. Can  we  allow  partial  payments  within  one  (1)  month  for  Situations  1a  and  2  under  the  installment plan?  Ans:    Yes,  but  the  payments  must  be  made  before  the  due  date.    Otherwise,  penalties  will  accrue and any subsequent payment will be applied to penalty, interest and principal, in that  order.    17. Is condonation automatic for beneficiaries who will apply for death claim within the availment  period?  Ans:  No, the applicant shall fill up application form for condonation and this shall be attached  to his death claim application.    18. If  an  employee  has  more  than  one  loan  account,  that  is,  salary,  calamity  or  emergency  and  only  one  loan  account  has  3  amortization  payments,  will  the  other  loans  qualify  under  the  Program?  Ans:  No,  only  the  loan  account  with  3  amortization  payments  shall  qualify  under  the  Program.    19. Why do we require that the 3 monthly amortization be posted to qualify a member‐applicant  under Situation 2?  Ans.  The  3  monthly  amortization  should  be  posted  to  enable  SSS  to  issue  an  updated  statement of account of the member‐applicant which shall be the basis for the computation of  condonable penalty and amount due.    20. During  the  1st  year  of  the  loan,  member‐borrower  is  still  employed.      However,  on  the  2nd  year, borrower was separated from employment.  What situation can the borrower qualify?  Ans:    If  member‐borrower  was  deducted  loan  amortization  in  the  1st  year  but  was  not  remitted by  employer,  he will qualify for Situation 1a;  only  one copy of pay‐slip is required.   However, if no deductions were made from payroll, he may avail under Situation 2, subject to  qualifying conditions.    21. If  borrower  will  pay  the  required  3  monthly  contributions  for  Jan.,  Feb.  and  March  2012  on  April  20  (deadline  for  contribution  payment),  when  can  he  file  his  application  for  condonation?  Ans:    On  or  after  April  21  until  July  2012  assuming  no  subsequent  contributions  are  paid.   However, the member should be encouraged to continue paying his contributions and avail of  other SSS benefits in times of contingency.    22. In  Situation  2,  if  the  remaining  balance  in  principal  and  interest  is  less  than  1  month  amortization, is the borrower still required to pay the 3 monthly amortization to avail of the  Program?  Ans:  Not anymore.  The borrower is qualified to avail of the Program as he has already paid  about 23 monthly loan amortization.   
  • 4.     23. Can the borrower pay any amount in the Monthly Salary Credit (MSC) in order to qualify for  condonation?  Ans:  If the premium paid is the 1st payment as a voluntary member, the member may choose  any  amount  in  the  MSC.    Otherwise,  the  change  in  MSC  may  be  one  or  two  salary  brackets  higher or lower than the previous MSC.    24. Where  will  the  3  monthly  amortization  be  applied  if  member‐borrower  pays  prior    to  application for condonation?  Ans:  Any loan payments shall be applied to penalties, interest and to the principal of the loan,  in that order.  25. What is the maximum term of installment?  Ans: 3 years but the maturity date of the installment plan shall not exceed age 65.    26. Are post dated checks required for installment payments?   Ans:  No.  Post dated checks are not required in the Condonation Program.    27. Why does a borrower have to wait for the two/three‐year period before he can renew a loan  after availing himself of the Condonation Program?  Ans:    Since  SSS  is  foregoing  penalties,  SSS  is  imposing  sanctions  to  member‐borrowers  who  were remiss in the payment of loan obligation.    28. If  mode  of  payment  is  on  installment  basis  and  the  borrower  defaults  in  the  payment  per  schedule, what sanctions shall be imposed upon the member?  Ans:   Default in the  payment  of monthly installment by at least 2 months shall result in the  following:  •  Termination of the  approved installment plan;  •  Re‐imposition of balance of the condonable penalties;  •  Entire loan becomes due and demandable bearing the same interest rate of 3% per annum.         Total loan obligation can be deducted from the member’s future benefits;  •  Permanent suspension of member’s loan privileges.    29. Will  a  member  be  allowed  to  pay  in  full  after  12  months  even  if  his  installment  term  is  36  months?  Will there be a rebate on interest and when is the renewal date?  Ans:  Yes.  The member may fully pay anytime during the installment period based on the  outstanding  principal  balance  at  the  time  of  payment.    There  is  no  rebate  of  interest  as  interest  computation  is  based  on  diminishing  principal  balance.  Also,  a  member  may  renew  his loan 3 years from date of full payment.    30. If a member has completed the required 120 monthly contributions for retirement, but lacks  the  required  3  monthly  contributions  for  the  last  6  months  and  has  the  required  3  monthly  amortization prior to application, will he qualify under Situation 2 of the Program?  Ans:  No, unless he pays the required 3 monthly contributions for the last six months.  But  the member should be aware of the effect of updating his contributions since his pension will  start accruing after the last posted contribution.     
  • 5.     31. If a member/beneficiary files a DDR claim, will he still file an application for the Condonation  Program?  Ans:    Yes,  the  application  for  condonation  shall  be  filed  simultaneous  with  the  filing  of  DDR  claim.  32. If a member is due for retirement in February 2012, can he postpone filing of application for  retirement in order to avail of the Program?  Ans:  Yes.  The program covers members whose applications for retirement will be filed from  02 April 2012 to 30 September 2012, regardless of date of contingency.    33. If DDR application is refiled after the availment period due to compliance by the member of  certain requirements, is he qualified to avail of  the Program since his initial filing was  made  during the availment period?  Ans:  No,  because  the  filing  date  in  DDR  database  will  be  automatically  replaced  by  the  refiling date.  The member should be advised to comply with the DDR requirements and re‐ submit the application within the availment peiod.    34. Will the Program allow a member to avail and deduct partial payments from his  pensions?  Ans:  No, the total outstanding loan balance is deducted in full from the retirement benefit.    35. Can a member‐borrower file retirement even if the installment is still in effect?  Ans:  Yes, but remaining penalties will be deducted from the retirement claim.  This is true to  member‐borrowers whose installment plan will mature after age 60 but prior to age 65 and  opts to retire.    36. Will  a  member  who  is  about  to  retire  or  about  to  file  a  total  disability  claim  qualify  under  Situation  1a  since  his  employer  deducted  loan  amortization  from  his  pay/salary  but  did  not  remit to SSS?  Ans:  Yes.  He shall file an application for condonation first, and pay the required amount due  prior to filing of retirement so that the penalties to be waived is 100%.  Otherwise, only 50%  of the penalties is waived and the balance to be deducted from the benefits.       37. Can a member who availed of the Program under Situation 2 still avail of the 50% condonation  under Situation 3 when he files his DDR claim?  Ans.  Not anymore as his loan is considered fully paid under Situation 2.    38. Will  members  who  have  no  prior  knowledge  of  the  Program  and  learn  about  it  beyond  the  availment period be allowed to request for reconsideration to avail of the Program?  Ans:  No, because the availment period of the program has already expired    39. Can  the  employees  who  will  avail  of  the  condonation  authorize  the  employer  to  deduct  the  installment payments?  Ans:    Yes,  however,  the  remittance  should  be  separate  from  the  regularly  paying  member‐ employees  and  SS  Form  ML‐1  (Monthly  –  Salary/Calamity/Educational/Emergency/Stock  Investment Loan Payment Return) shall be used.                                Revised: March 21, 2012