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Keeping members updated: SSS launches text alerts for loan payments

The Social Security System (SSS) has begun informing members about overdue payments on their short-term loans, such as salary and calamity loans, through text messages.

This new initiative, launched recently, aims to help borrowers keep track of their payments and eventually renew their loans once any outstanding balances are settled.

Pedro T. Baoy, SVP for the Lending and Asset Management Group at SSS, emphasized the significance of these SMS notifications.

“SSS will now regularly send these messages to its loan borrowers, ensuring they receive timely reminders if they miss payments or have loans outstanding after maturity,” Baoy said.

He encouraged members to monitor their My.SSS accounts to ensure their loans are fully paid to avoid penalties.

Baby clarified that members who consistently make their monthly loan payments on time will not receive these notifications.

Starting last month, SSS has been sending these payment reminders to ensure borrowers are aware of their monthly loan due dates.

“We send loan billing statements to our member-borrowers via their registered email address. However, unlike emails, which are often overlooked, most members keep their mobile phones with them at all times, making text alerts an effective way to remind them,” Baoy explained.

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