SSS Implements Mandatory Use of Payment Reference Numbers for Housing Loan Payments

The Social Security System (SSS) announced that all housing loan mortgagors or borrowers must present a Payment Reference Number (PRN) for their loan payments beginning this month. This transition to Real-Time Processing of Loans (RTPL) aims to enhance the convenience of housing loan borrowers.

“The PRN for loans is a system-generated number corresponding to a loan billing statement of the individual loans by the borrower, which contains certain characters to distinguish the housing loan from other SSS loan programs,” said SSS President and Chief Executive Officer Rolando Ledesma Macasaet.

This change will enable the real-time posting of housing loan payments to individual loan accounts, ensuring a seamless and efficient process. Borrowers with outstanding loan obligations in the Direct Individual Housing Loan Program and the Direct Housing Loans for Overseas Filipino Workers (OFWs), Workers’ Organization Members, and Trade Union Members (TUM) should have a PRN whenever they pay their loan payments.

Keeping Contact Details Up-to-Date

SSS Senior Vice President for Lending and Asset Management Group Pedro T. Baoy emphasized the importance of borrowers keeping their contact details with the SSS up-to-date. “This will ensure they receive the PRN they need for every housing loan payment transaction, contributing to a smooth and timely payment process,” Baoy said.

Borrowers can obtain the PRN every 10th day of the month, with the PRN for June 2024 generated last June 10. Once the PRN expires, the borrower needs to get a new PRN that contains the past due and current amounts, as an expired PRN will no longer be accepted for payment.

Payment Options

Mortgagors can pay their monthly housing loan amortizations over the counter at SSS branch offices with tellering services or through SSS-accredited collecting partners such as Union Bank of the Philippines, Philippine National Bank, Bayad Center, and SM Mart, Inc. SSS will notify them through their registered email address and mobile number to confirm their payment and its posting on their accounts.

As of December 2023, SSS has 3,744 mortgagors with housing loan collectibles amounting to P6.83 billion. The implementation of Payment Reference Numbers aims to streamline the payment process and ensure timely payments for all housing loan borrowers.

For more information, please visit the SSS website at www.sss.gov.ph or contact the SSS Housing and Acquired Assets Management Department, SSS Investments Accounting Department, or SSS Member Loans Department at the SSS Main Office in Quezon City.