More than 6,000 delinquent members of the Social Security System availed of the housing loan amnesty program within the six months of its implementation.
Edgar Solilapsi, SSS senior vice president for investments, said 6,434 members were given amnesty. This has enabled the agency to collect P268 million in back payments from delinquent housing loans.
Solilapsi said the number is expected to rise because of plans to extend the program.
The program was implemented December last year. This was supposed to run only for six months. But during the agency’s anniversary celebration, President Arroyo ordered that the amnesty program be extended.
Also, Solilapsi said that about 350 members have written SSS requesting for an extension of the amnesty period.
About P570 million in payments are expected to be collected and penalties worth millions will be condoned in the planned extension, he said.
SSS has been one of the major sources of funds for housing loans for private sector employees.
It has about 22,000 delinquent members who availed of housing loans. Officials expect that at least 30 percent of them will update their accounts under the extended amnesty period. — Ferliza C. Contratista/MEEV