SSS warns pensioners...

guidelines for PLP application, other government-issued identification cards aside from the Social Security card (SS card) or Unified Multi-Purpose Identification (UMID) card may now be used as a form of identification.

In the absence of a primary ID card/ document, the applicant shall present and submit any two valid ID cards bearing a signature and a photo of the applicant.

At end-March, SSS pension loan releases reached million to more than 32,872 retiree pensioners.

Among the 166 branches receiving PLP applications, Bacolod branch approved the most number of PLP applications at 2,240 and released more than

million.

Diliman branch, on the other, released the highest amount of pension loans amounting to million to more than 1,861 pensioners for the said period.

The top three branches with the most number of approved PLP applications were Victorias branch in Bacolod; Cebu branch; and Bago branch.

PLP was launched in September last year in celebration of the 61st anniversary of the pension fund and was intended to be offered to retiree pensioners for a period of one year only.

But now, PLP has become a permanent loan facility of SSS under Republic Act 11199 or the Social Security Act of 2019 which took effect last March 2019.

With only 10 percent interest per annum, PLP offers lower interest rate compared with high-interest loan offerings of some financial institutions. (CSL)