The Social Security System (SSS) is set to implement its penalty condonation program for short-term member loans later this month, as well as contribution penalty condonation programs.
The SSS has posted multiple circulars on its website yesterday regarding these condonation programs.
Circular 2022-022 has laid out to all members the guidelines on the consolidation loan program with condonation of penalty, which will begin on September 30, 2022.
Included in the program are all past due social security (SS) short-term member loans such as salary loan including the salary loan early renewal program, calamity loan, emergency loan, restructured loan and other short-term member loans as may be determined by SSS.
To qualify, members must have loan accounts that are past due as of the time of the consolidated loan application; have not been granted any final benefit such as permanent total disability or retirement; have not been disqualified due to fraud committed against the SSS; and must have an active My.SSS account.
Members may pay in full or installment.
Meanwhile, Circular No. 2022-021 is addressed to all business employers as it focuses on contribution penalty condonation, delinquency management and restructuring program.
The program covers all SS contribution delinquency from the actual date of operations of an employer up to the month of receipt of the application for the program.
“All single proprietorships, corporations, partnerships, cooperatives and associations who are delinquent in the payment of SS contributions and/or penalties whose financial positions demonstrate a clear inability to pay the assessed delinquency arising from economic crisis, serious business losses or financial reverses, or resulting from natural calamity, or man-made disaster without fault on their part may apply under this program,” the pension fund said.
Lastly, Circular No. 2022-020 is for all household employers, as it lays out guidelines on contribution penalty condonation and restructuring program.
SSS said all household employers who are delinquent or have not remitted all contributions and/or penalties from actual date of employment of the househelp or kasambahay reported to SSS prior to the effectivity of the circular up to the month of receipt of the application for condonation are covered by the said set of guidelines.
“As a continuing condonation program, delinquencies incurred for kasambahays employed after the effectivity of this circular are also covered under this program. All household employers who are delinquent in the payment of SS contributions and/or penalties whose financial positions demonstrate a clear inability to pay the assessed delinquency arising from economic crisis, financial reverses, or resulting from pandemic natural calamity, or man-made disaster without fault on the part of the household employers may apply for condonation under this program,” the SSS said.
