The validity of the Social Security System (SSS) issued Land Bank of the Philippines checks generated from July to December 2020 will be extended up to 180 days from the date of issuance, the pension fund announced on Tuesday.
This was after the LandBank granted on October 12 the agency's request to extend the validity of the checks which was initially 90 days or at least three months only.
In a statement, SSS President and CEO Aurora Ignacio said the initiative aims to provide its members with more time to encash their benefit and loan checks that they might have received later than the usual delivery time due to the current health situation.
According to Ignacio, the extension is also considering various community quarantine restrictions implemented to reduce the transmission of COVID-19.
The state-run pension fund said that the LandBank had already requested its member banks to accommodate the said checks.
Earlier this year, the LandBank has also approved to extend the validity of SSS-issued checks generated from February to June 2020 to six months from their issue date.