Delinquent SSS loan borrowers can now breathe a sigh of relief because the Social Security System (SSS) is extending their consolidation and condonation program beginning May 1, 2008 up to April 30, 2009.

To date, the Social Security System has P25.8 billion delinquent short-term loans in its books whose bulk it hopes to recover through consolidation and condonation program.

This loan recovery program extension is a great chance to pay past due loan accounts from housing, salary, stock investment or other short-term loans with the SSS without any penalty.

Many members who borrowed from the fund have neglected payment, resulting in significant reduction in their benefits to their own disadvantage. To avail the great benefits, delinquent members should try to settle their accounts now so that when they become retire-able, they and their beneficiaries will not lose three-four-five years of their pension benefits.

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