SSS accepts scanned LOA for Loan Restructuring Program Application

The state-run Social Security System (SSS) announced that all its branches nationwide now accept scanned copies of Letter of Authority (LOA) received through e-mail by representatives of a member-borrowers applying for the Loan Restructuring Program with penalty condonation.

SSS President and Chief Executive Officer Emmanuel F. Dooc said the requirements for LRP applications to be filed through authorized representatives are the email request of the member borrower, scanned copy of the LOA, scanned copy of two valid identifications cards of the member borrower, and photocopies of two valid IDs of the authorized representative.

The SSS Chief also reminded authorized representatives to print a clear copy of the e-mail showing both the sender's and recipient's email addresses.

"The updated mechanism will likely benefit our OFW-members the most. It is our way to help them clean their obligations with SSS even if they are working abroad. As of December 2017, our OFWmembers registration stood at 1.35 million,” Dooc said.

Dooc said authorized representatives may accomplish the LRP application form, sign in “Conforme” portion of the Statement of Loan Balances for LRP and Disclosure Statement, sign the promissory note, receive the Notice of Approval, and pay the restructured loan based on the agreed term, on behalf of the member-borrower.

Qualified SSS member-borrowers may apply for LRP until October 1, 2018 only.