SSS Loan Condonation Program ends on April 27 (Apply Now!)

Update: The SSS Loan Restructuring Program is available again from April 2 to October 1, 2018. Click the links below for more details.

The Philippine Social Security System has been encouraging SSS members who have past due loans to apply for SSS Loan Restructuring Program (LRP).

Also known as SSS Loan Condonation, this program started last year April 28, 2016 and will end on April 27, 2017 or 20 days from now.

LRP aims to help members pay their loans by deducting the penalty from their actual loan balance, hence only paying the primary loan amount and interest.

Here’s an example…

My aunt loaned Php 18,485.58 from SSS in June 2005 and she hadn’t paid it until she heard about SSS Condonation Program last year.

She went to the SSS office and applied for SSS LRP and only then she found out that her loan has already ballooned to Php 67,528.78 including the principal amount, interest and penalty.

After the SSS officer made some computations to her loan applying LRP, her loan balance went down to Php 35,985.42.

This was a huge savings for my aunt who will be retiring one year from now and it would have not been possible without the SSS Loan Restructuring program.

Who are eligible to apply for SSS LRP?

There a few eligibility requirements but these are the three that are really important:

  1. SSS members who have loans that are past due for a period of at least 6 months as of the first day of restructuring period (April 28, 2016).
  2. SSS members who are living or working OR have lived or worked in calamity/ disaster declared areas as of disaster date or as of application date. Don’t worry too much about this because in the list of areas affected by calamities or disasters in the Philippines that was released by the Social Security System, almost all areas in the country are included.
  3. SSS member must be under 65 years old at the end of the installment term.


How to Apply for SSS Loan Restructuring?

  1. Download and print a copy of SSS LRP Form and Affidavit of Residency or just go to the SSS office personally to get a copy.
  2. Fill out the SSS LRP Form with the required information and go to the nearest notary public office and have the Affidavit of Residency notarized which will cost around P100 to P200.
  3. Prepare and submit the following documents to the nearest SSS office:
    • 2 valid IDs
    • Completely filled-out SSS LRP Form
    • Notarized Affidavit of Residency

If you’re abroad or you can’t personally go to the SSS office to apply for LRP, you can assign a representative to submit the following documents on your behalf.

  1. Affidavit of Residency for Foreign Office
  2. Original Copy of Special Power of Attorney(SPA)
  3. Photocopy of 2 valid IDs each of the member-borrower and the representative. At least 1 of these valid IDs with photo and both valid IDs with signature should be present and must be original.

Once you’re at the SSS office, the SSS officer will explain to you the terms and conditions of SSS Loan Restructuring program, he will make the necessary computations and will you show you how much you’re going to pay and how long based on the arrangement that you’ve agreed upon.

See, it’s not that complicated to apply for SSS LRP. If you have any questions, just ask the SSS officer or read this article for more detailed information about SSS Loan Condonation Program.

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  1. jaime argonia says

    Mam ito bang restructuring program nyo po ba ay nga loan ng po ang babayaran hndi na po kasama Interes

  2. Mam ask ko lang po wala na bang extended ng restructing loan ng sss ngayun ko pa nalaman kasi

  3. Mam extented pa ba and sss restructuring program?

  4. Good day man,
    Hanggang ngaun po ba pede pa may apply ng SSS condonation?

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