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PIA Press Release
2007/09/08

Feature: Good news for delinquent SSS housing loan borrowers

By Rose B. Palacio

Davao City (8 September) -- Social Security System (SSS) members with housing loans and who failed to regularly pay their monthly housing dues will be happy to note that the Arroyo administration has approved the extension program for SSS housing condonation loan for another six months.

SSS manager Manny Tagalog said the SSS Mindanao region is awaiting the implementing rules and regulations (IRR) so they can effectively implement the President's order.

President Gloria Macapagal-Arroyo announced the loan condonation extension in her message during the 50th SSS anniversary celebration held at SSS main office along East avenue, Quezon City. Present during the celebration includes: SSS president Corazon dela Paz, SSS chairman Thelmo Cunanan, and former SSS administrator Jose Cuisia.

President Macapagal-Arroyo said the extension of SSS condonation program for another six months is a social payback to the Filipino people.

As part of the anniversary present to the Filipino workers, the President said SSS also increased the members' pensions twice in the last 12 months ten percent in September last year and another ten percent last month.

The President also encouraged the SSS to expand its membership to include the mandatory coverage of OFWs, especially seafarers, the plan to amend its Charter, and institutionalize actuarial standards and formulas, among other proposals.

The President, likewise thanked SSS for recently providing the P-billion special window for micro, small and medium enterprises which, she said, are the biggest job generators in the country. (PIA XI) [top]

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