Mandatory use of PRN for SSS loan payments starts May 1

MANILA, Philippines — The Social Security System (SSS) is imposing the mandatory use of payment reference number (PRN) for short-term loan payments beginning May 1.

In a statement, the state-run pension fund said the management approved the one-month extension from April 1 to give members and employers more time to create their My.SSS accounts, update contact information, 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 can also benefit from this program and realize its importance,” said SSS president and CEO Aurora Ignacio.

Under the Real-Time Processing of Loans (RTPL), individual members (self-employed, voluntary, and overseas Filipino workers) and employers will use the system-generated PRN to facilitate the immediate and correct posting of loan payments on their corresponding records.

Short-term loans covered by the RTPL implementation are salary, calamity, emergency, and restructured loans.

Individual members and employers can either print out a copy or capture a screenshot of the PRN Loans Statement of Account with the corresponding barcode, accessed through the “RTPL PRN” module of their My.SSS accounts.

They may also present the SMS received from SSS indicating the PRN for loan payment.

However, employers are required to submit an electronic-Loan Collection List (e-LCL), which can be downloaded from the SSS accounts for offline editing before submission.