SSS amnesty program benefits 6T members

THE Social Security System (SSS) Central Visayas office has reported that about 6,000 members have availed themselves of the amnesty program and paid their loans in full or installment basis.

The earnings for the first seven months of the year for Cebu Province reached P1.3 billion, which does not include collection from large accounts that have been transferred to the head office.

Helen Solito, SSS assistant Central Visayas Division vice president, said the equivalent amount is P70 million of collectibles.

“Other members fail to tell their new employers that they have existing loans,” she said.

She encouraged members to pay their loans in full so there would be no deductions at the time they enjoy their retirement benefits.

The SSS has condoned the penalties for more than 80,000 members nationwide amounting to P590.79 million under the program that ends in one month.

Changes In a teleconference, SSS President Emilio de Quiros Jr. said there were some changes in the process of accepting members into the amnesty program.

“In the past, we just allowed people to have loan condonation without effort. Now it is very difficult to avail of the loan condonation program,” he said.

He said members who have paid for at least three months of the loan is among the criteria.

SSS celebrated its 55th anniversary last week with the theme “Sa SSS, Kabuhayang Pinagsikapan, Seguridad Maaasahan.”

Earnings Solito said the earnings for Bohol Province were P132.7 million; Leyte Province, P273 million; and Samar Province, P74 million.

The average increase in income per year is between seven percent and eight percent.

Investments for the first half of the year increased by 21 percent to P18.33 billion from P15.20 billion in the same period last year.

“We took advantage of stock market opportunities that helped boost our equity earnings by 48 percent to a six-month total of P10.54 billion,” said De Quiros.

“This includes P7.82 billion in realized gains from active trading, which was 85 percent higher than P4.23 billion in the first half of last year,” he added.