Good news from DepEd on loan payments

To our valued DepEd Provident Fund Members:

This is to announce that, in compliance with the Implementing Rules and Regulations (IRR) of Section 4(aa) of Republic Act No. 11469, also known as "Bayanihan to Heal as One Act", Secretary Leonor Magtolis Briones has approved DepEd Provident Fund (PF) National Board of Trustees' Resolution No. 02, s. 2020 which pertains to the implementation of the measures specified below to help the DepEd borrowers who are in financial distress due to the COVID-19 pandemic:

1. DepEd shall impose a three-month moratorium on payment of loans, from April to June 2020;

2. For April 2020, PF loan amortization already deducted from the salaries of the DepEd borrowers will be refunded through special payroll and will be credited to their respective ATM payroll accounts;

3. No PF loan amortizations will be deducted from the salaries of the concerned DepEd borrowers for the payroll months of May and June 2020;

4. Loan payments will be extended for three (3) months;

5. During the moratorium period, DepEd borrowers will not be charged accrued interest and penalty;

6. Loan payment moratorium shall be automatically extended upon extension of ECQ b the President.

Rest assured that the DepEd Provident Fund will always have the best interest of DepEd personnel in mind especially in this time of crisis.

ANNALYN M. SEVILLA

Undersecretary

Chairperson, DepEd Provident Fund National Board of Trustees

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