The Social Security System (SSS) has announced the new batch of loan condonation program or the loan restructuring program (LRP) in August, whereas the members with delinquent status in paying their previous loan in a period of more than 6 months will be allowed to settle their accounts without paying any penalty. Overseas Filipino workers (OFWs) in the United Arab Emirates (UAE) who currently has current unpaid loans are urged to apply for the LRP until October 1 and further extended until April 1, 2019.
SSS continues to encourage its members, including OFWs, to apply for loan restructuring program with penalty condonation especially OFWs who have short-term member loans including calamity, salary, educational, and emergency loans.
Under the program, members will no longer pay the additional penalties for the unsettled loans. Members only need to pay for the annual interest and the principal loan.
Payments can be done in whole or on a monthly installment provided that the payment terms will not exceed 5 years.
OFWs can apply for LRP in two ways:
1. If you are currently in the UAE, you can visit the SSS office located at the Philippine Consulate in Dubai and the Philippine Embassy in Abu Dhabi.
2. OFWs can also delegate their application to their authorized representative. Give them an authorization letter to process the application through the SSS office in the Philippines.
You can download the application form at the SSS official website.