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Manila Bulletin devider Philippines devider National devider GSIS to open emergency loan program for 'Florita' hit members, pensioners

GSIS to open emergency loan program for 'Florita' hit members, pensioners

Published Aug 24, 2022 06:55 pm

The Government Service Insurance System (GSIS) announced on Wednesday, Aug. 24, that it will open its emergency loan program for members and pensioners affected by severe tropical storm Florita.

Government Service Insurance System (GSIS) logo / Facebook

Old-age pensioners, disability pensioners, and active members residing or working in the affected communities may avail of the loan after those areas have been declared under a state of calamity.

The agency also noted that members who have existing emergency loan balances may borrow up to P40,000 to pay off their existing balance and still receive a maximum net amount of P20,000.

"Those without existing emergency loan may apply for Php20,000. Pensioners may likewise apply for a Php20,000 loan," said GSIS.

Qualified for the loan are "members who are in active service and not on leave of absence without pay; have at least three months of paid premiums within the last six months; have no pending administrative or criminal case; and have a net take-home pay of not lower than Php5,000 after all required monthly obligations have been deducted," GSIS stated.

Aside from the emergency loan, GSIS members may also apply for Multi-purpose Loan (MPL) Plus which has a loan ceiling of up to P5 million while pensioners can borrow up to six months' worth of their pension under the enhanced Pension Loan program or up to P500,000, GSIS President and General Manager Wick Veloso said.

Veloso added that GSIS will provide financial assistance worth P400,000 each to six schools in Northern Luzon under its Adopt-a-School Program in partnership with the Department of Education.

"This is out of the 25 schools that GSIS will adopt nationwide this year as part of its corporate social responsibility program. Since 2014, GSIS has already adopted 85 schools across the country," Veloso added.

The assistance package includes technological and assistive learning device support as well as infrastructure and furniture aid.

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