State-run Government Service Insurance System (GSIS) will open its emergency loan program to assist members and pensioners affected by severe tropical storm “Florita.”

In a statement, Jose Arnulfo “Wick” Veloso, GSIS president and general manager, said that affected members and pensioners who have no existing emergency loan may apply for P20,000.

GSIS members who have existing emergency loan balance may borrow up to P40,000 to pay off their previous emergency loan balance and shall receive a maximum net amount of P20,000, Veloso said.

However, he said that active members residing or working in affected areas as well as old-age and disability pensioners based in the same areas may only apply for the loan after the areas have been declared under a state of calamity.

Qualified to apply 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; and have no pending administrative or criminal case.

Borrowers should also have a net take-home pay of not lower than P5,000 after all required monthly obligations have been deducted.

"Aside from emergency loan, our members may avail of the Multi-purpose Loan (MPL) Plus, which has a loan ceiling of up to P5 million. Pensioners, on the other hand, may borrow up to six-months’ worth of their pension under our enhanced Pension Loan program or up to P500,000." Veloso said.

The pension fund chief added that GSIS will provide financial assistance of P400,000 each to six schools in North Luzon as part of its Adopt-a-School Program in partnership with the Department of Education.

The package of assistance includes support for technology and assistive learning devices, infrastructure and furniture.

“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 pointed out.