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SSS Implements Mandatory Use Of PRN For Loan Payments Starting July 1 journal.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from journal.com.ph Daily Mail and Mail on Sunday newspapers.
February 06, 2021 COMPUTER-GENERATED payment reference numbers (PRNs) will be required for short-term loan payments starting April 1, 2021, state fund Social Security System (SSS) said.
Billing months to be covered by this system will be from March 2021 and onwards.
The PRN, a system-generated number corresponding to an individual member’s loan billing statement (self-employed, voluntary, Overseas Filipino Worker) or employer, helps facilitate the immediate and correct posting of loan payments to their matching loan accounts.
SSS President and Chief Executive Officer Aurora C. Ignacio said the SSS started to implement the use of PRNs for short-term member loan payments last year as part of the fund’s Real-Time Processing of Loans (RTPL) program. Transactions covered by the system include salary, calamity, emergency, and restructured loans.