Sunday, September 20, 2020

SSS Loan Condonation Benefits Over 17K Workers In Bicol

SSS Loan Condonation Benefits Over 17K Workers In Bicol


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Some 17,210 employees in Bicol benefited from the Contribution Penalty Condonation Program (CPCP) of the Social Security System (SSS), which was availed by a total of 2,531 employers in the region.

Jeanette Torallo-Mapa, SSS-Bicol communications officer, in an interview on Friday said the condonation program is based on Republic Act 11199, the Social Security System Act of 2018.

She said they collected PHP63-million worth of contributions from the full and initial payments of employers who availed of the CPCP.

Mapa added that based on SSS data, a total of PHP93 million was condoned of penalty from the PHP194 million worth of delinquencies of 2,531 employers.

“After posting their contributions, they (employees) are now active members who can enjoy the seven benefits being offered by SSS and they can also avail short-term loan privileges as soon as their employers have fully remitted their contributions,” Mapa said.

The CPCP, was offered to delinquent employers following the effectivity of RA 11199 on March 6, 2019.

Active and paying SSS members may avail of sickness, maternity, unemployment, disability, retirement, funeral, and death/survivor benefits. (PNA)

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