Republic of the Philippines

soclAL sEcuRlrv sysTEM

East Ave., Diliman, Quezon City
Tel. Nos. (632) 920-6401. (632) 920-6446
E-mail: member_relations@sss.gov.ph . Web site: http:/,J'www.sss.gov.ph

CIRCULAR NO. ? 0 2 0 007

TO ALL SSS MEMBERS

SUBJECT MORATORIUM ON SHORT-TERM LOAN PAYMENTS OF SSS

MEMBERS AFFECTED BY CORONAVIRUS DISEASE 2019
SITUATloN (COVID-19) FOR APPLICABLE MONTHS OF
FEBRUARY TO APRIL 2020
\
Pursuant to Social Security Commission (SSC) Resolution No. 205-s.2020 dated
25 March 2020 approving the recommendation to provide assistance for SSS members
affected by the coronavirus disease 2019 (COVID-19) situation, the Guidelines on
Moratorium on Short-Term Loans are hereby issued:

A. COVERAGE OF THE PROGRAM

Members with Salary Loan, Calamity Loan, Emergency Loan, Restructured

Loan under the Loan Restructuring Program (LRP) and Educational
Assistance Loan (EAL) in the entire Philippines affected by the strict community
quarantine to manage the COVID-19 situation as declared under Proclamation
No. 929 by the President of the Philippines dated 16 March 2020 declaring a
State of Calamity throughout the Philippines due to COVID-19.

a. ELIGIBILITY

1. Members must be residents of the Philippines. To determine the

residency, SSS will refer to the addresses of loan borrowers (places of
residence and work) as recorded in the SSS Membership database as of
16 March 2020.

2. The Salary Loan, Calamity Loan, and Emergency Loan must be granted
from 01 January 2018 to 16 March 2020.

3. The LRP and EAL must be currently amortizing. Currently amortizing

means that the LRP or EAL's last amortization month is not earlier than
February 2020.

4. Members must have not been granted any final benefit, i.e. total permanent
disability or retirement.
 C. PERIOD COVERED

Moratorium will be for the applicable months of February to April 2020, without
interest and penalties. The loan payment term is therefore extended by a
maximum of three months.

D. OTHER CONDITIONS

1. Qualified members will be electronically identified based on the eligibility

qualifications described in Sections A and a. Thus, affected members are
automatically covered by the moratorium and need not file a request or
application to SSS.

2. For employed member-borrowers, the employerwill immediately caus.e the

temporary stoppage of salary deduction upon effectivity of this program.

` 3. The employer, without need of notice from sss, will resume loan deduction
after the end of the moratorium period or for the applicable month of May
2020, which will be due for remittance on or before 30 June 2020.

4. Any remittance made during the moratorium period will be applied to the
outstanding balance of the loan following the order of priority in application
of payments (i.e. penalties first if loan is past due, interest, and principal).

For inquiries, members are advised to log on to www.sss.aov.ph or call at

(02) 8920-6446 to 55 for assistance.

Please be guided accordingly.

hlAR 3 0 2$20
Date

(Policies ~ Loans Granting)

Prepared by: Member Loans Department

Moratorium on Short-Term Loan Payments of SSS Members Affected by Coronavirus Disease 2019
Situation (COVID-19) for Applicable Months of February to April 2020

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