The office of Undersecretary (OUF) for Finance submitted a report to the DepEd Secretary on loan payment relief measures offered to DepEd personnel by Private Lending Institutions (PLIs) accredited under the agency’s Automatic Payroll Deduction System (APDS).
Pursuant to Section 4(aa) of Republic Act No. 11469, otherwise known as the “Bayanihan to Heal as One Act” and its Implementing Rules and Regulations (IRR) issued by the Department of Finance, lenders are directed to grant a 30-day grace period or extension of period for payment of all loans, falling due within the Enhanced Community Quarantine (ECQ) period, without interest on interest, charges and fees.
Last April 7, 2020, the OUF had a virtual meeting with the PLIs to discuss matters relevant to the implementation of the grace period.
The PLIs are unanimous in saying that they will comply with the directive on loan payment relief. As the DepEd Provident Fund, GSIS, LandBank of the Philippines and Pag-IBIG Fund offered more than a month loan payment deferral period, it is possible that some PLIs may also be willing to adopt a similar program.
Hence, a communication was made thru a General Letter sent to these PLIs, requesting them to select which of the following loan relief options they have for DepEd employees:
•Option 1 - Minimum Relief based on Bayanihan Law and the DOF-issued IRR. (The DepEd will not remit loan deductions for the payroll month of April 2020 to your entity, but instead the said amount will be refunded to the concerned DepEd employees. No deductions will be effected during the ECQ period. The termination date of the loan amortizations, in effect, will be automatically extended in our payroll program for one month or based on the duration of the ECQ period.)
•Option 2 - Expanded Relief based GSIS and DepEd Provident Fund.
(The DepEd will not remit loan deductions for the payroll month of April 2020 to your entity but instead, the said amount will be refunded to the concerned DepEd employees. No deduction will be effected in May and June. The termination of their loan amortizations, in effect, will be automatically extended in our payroll program for three (3) months.)
For your information and guidance of all concerned, we attach copies of the following:
1. Result of the communication made with the PLIs, as shown in attached ADVISORY, regarding the preferred loan relief option to be offered to DepEd borrowers, as of April 15, 2020; and
2. OFFICIAL LIST of PLIs accredited in DepEd Automatic Payroll Deduction System (APDS):
Option 1 - Minimum Relief based on Bayanihan Law and the DOF-
issued IRR (85 PLIs)
Option 2 - Expanded Relief based GSIS and DepEd Provident Fund (2 PLIs)
No response yet = 74 PLIs (but considered to automatically avail of Option 1)
TOTAL No. of PLIs = 161 accredited PLIs accommodated in the APDS
Source: DepEd Usec. Annalyn M. Sevilla FB Page
Advisory to all PLIs under the DepEd's Automatic Payroll Deduction System Program
Reviewed by Teachers Click
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April 21, 2020
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Reviewed by Teachers Click
on
April 21, 2020
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giid evening, ask lang po, if wala ba sa list na bank, wala na po bang pag asa na marefund at walang deduction for May and June? agribusiness rural bank po kasi ako naka salary loan.
ReplyDeletemaraming salamat po.
giid evening, ask lang po, if wala ba sa list na bank, wala na po bang pag asa na marefund at walang deduction for May and June? agribusiness rural bank po kasi ako naka salary loan.
ReplyDeletemaraming salamat po.