TARLAC CITY (PIA) — The Social Security System (SSS) highlights its Conso Loan program or the Consolidated Loan with Penalty Condonation as a key initiative to help delinquent members settle their loan obligations through full penalty condonation.
SSS Luzon Central 1 Division Vice President Vilma Agapito said the program aims to assist workers whose penalties have significantly increased due to prolonged non-payment.
She explained that penalties accumulate at two percent monthly, causing loan balances to rise sharply and making repayment difficult for many members.
“Lumalaki ang penalty dahil may dalawang porsyentong singil kada buwan nade-delay ang bayad, at kapag matagal nang delinquent ang account, nagpatong-patong ito at minsan umaabot pa ng mahigit P200,000, kaya malaking tulong ang Consoloan dahil tatanggalin ang penalty at ang babayaran na lang ay principal at interest. (Penalties increase because delayed payments incur a two-percent monthly charge. When an account stays delinquent, these penalties stack up and can exceed P200,000. Under the Consolidated Loan program, penalties are removed, and the members pay only the remaining principal and interest),” she furthered.
She added that the Conso Loan Program is especially helpful for members nearing retirement because removing penalties ensures that deductions will not reduce their future claims.
Agapito noted that applications are processed exclusively through the My.SSS portal, where members can check contributions, verify payment records, and view updated loan balances.
She said eligibility requires at least six months of delinquency and applies to both salary loans and calamity loans.
Agapito encouraged SSS members to continue paying contributions regularly, particularly self-employed, voluntary members, and overseas Filipino workers.
She reminded self-employed and voluntary members to settle their October, November, and December contributions on or before the end of December, noting that queues are usually long on the last day.
“OFWs have a later deadline, but we advise self-employed and voluntary members to avoid last-day payments because it is already a peak period and queues will be long,” she added.
She emphasized the availability of multiple payment channels, including online platforms such as GCash, Maya, SM, and other bayad centers, and urged members to pay early to avoid missed deadlines.
Agapito also noted that individual payors may pay quarterly and that missing the deadline creates a permanent gap in their record that can no longer be corrected.
By easing financial strain and promoting efficient loan settlement, the Consolidated Loan program is expected to strengthen member compliance and support a more stable and responsive social protection system for Filipino workers across the region. (CLJD/MCAL, PIA Region 3–Tarlac)
