The Social Security System has extended by another six months the amnesty program it launched in October 2004 to help members settle their delinquent salary loans and other short-term debts to the agency.

Officer-in-charge Horacio Templo of SSS in Oriental Negros said President Gloria Macapagal-Arroyo approved the recommendation of the Social Security Commission to extend the amnesty period to June 30 this year, following clamors for extension from members who failed to meet the deadline last year. The program allows members to pay their loans without penalties and to choose to make a one-time payment or on installment.

He said that unlike the total write-off for one-time payment, the installment payment will result in proportionate write-off of penalties.

The amnesty program covers salary, calamity, emergency, educational, study-now-pay-later plan, vocational/technical, student and Y2K loans.

SSS short-term loans carry a penalty of one percent a month.

Templo said the amnesty program has allowed the SSS to clean its books and boost its investment earnings and the members' response "has been encouraging."

"SSS is pleased with the patronage and support of the members; we are able to give those who missed the amnesty last year a chance to settle their obligations," he added.

The SSS recovered more than P896 million in back payments from delinquent loans during the one-year amnesty program that ended on October 30 last year.*RA

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