9.10.2013

Effect of SSS Salary Loan on Maternity Benefit

By KD
Question:

Can I claim my SSS maternity benefit even if I have an outstanding salary loan?

Answer:

Yes, you can file your claim for your SSS maternity benefit.  Your claim will be processed as long as you are qualified and your documents are complete.

However, if your salary loan is delinquent, your total loan balance will be deducted from your SSS maternity benefit. If your delinquent loan balance is bigger than your maternity benefit, then your cheque amount will be zero.  If this happens, console yourself by saying "At least, I have paid off a big portion of my salary loan."

If your loan is current and your payments are on time, you will get your SSS maternity benefit in full, without deductions.

Source: 
SSS Member Loan Application Form

I. DEDUCTION OF UNPAID LOAN FROM BENEFITS

In case of default, the arrearages/unpaid loan shall be deducted from the benefits claimed by the member, whichever comes first, as follows:
For self-employed/voluntary member, deduction shall be from short-term benefits (Sickness/Maternity/Partial Disability).

3 comments:

  1. can i do a loan restructuring for a loan made in 2012?

    ReplyDelete
  2. I have no more existing loan
    But I want to reloan this time before giving birth in may.will there be an effect on my maternity benefit?

    ReplyDelete
  3. Cool..!! This is really lovely.. Thanks

    ReplyDelete