SSS will enforce mandatory use of PRN for short-term loan repayments
THE Social Security System (SSS) has announced that the mandatory use of the Payment Reference Number (PRN) for short-term loan payments has been moved to May 1 from its April 1 schedule.
SSS President and CEO Aurora Ignacio said management approved the one-month extension to give members and employers more time to create their My.SSS accounts, update their contact details and review their loan information.
“We wanted to make sure that our stakeholders are ready to comply with our upcoming procedural and system changes so that they too can benefit from this program and realize its importance,” said Ignacio.
As part of Real-Time Loan Processing (RTPL), individual members (Filipino freelancers, volunteers and foreigners) and employers will use the system-generated PRN to facilitate immediate and correct posting of loan payments on their records. correspondents. Short-term loans covered under RTPL implementation are salary loans, disaster loans, emergency loans and restructured loans.
“Individual members and employers can print a copy or capture a screenshot of the PRN loan account statement with the corresponding barcode, accessible through the“ RTPL PRN ”module of their My.SSS accounts can be found on the SSS website (www. sss.gov.ph). They can also present the SMS received from SSS indicating the PRN for the loan payment, ”Ignacio said.
Members and employers can also change the amount to be paid in said statement via their My.SSS accounts. However, employers are required to submit an Electronic Loan Collection List (e-LCL), which can be downloaded from SSS accounts to be edited offline prior to submission. The complete RTPL implementation process flow can be accessed through this link: https://bit.ly/3u5NQIr.
Beneficiaries must present their PRN at SSS branches with the automatic teller machine system (ATS) or any other collection partner compliant with RTPL. For the full list of RTPL compatible partners, go to the link https://bit.ly/3cCGXs3.
“This is to reiterate that from May 1, RTPL compliant SSS collection partners will only accept loan payments with PRN to avoid possible system errors. Members and employers will receive an email or SMS notification confirming their loan payment and successful publication, ”Ignacio concluded.
For more information, follow the SSS on Facebook and YouTube on “Philippine Social Security System”, Instagram on “mysssph”, Twitter on “PHLSSS” or join the SSS Viber community on “MYSSSPH Updates”. (RP)