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Manila Bulletin devider Business devider GSIS mandates MPL Flex agreement for gov't agencies

GSIS mandates MPL Flex agreement for gov't agencies

Published Sep 7, 2023 07:25 am

At A Glance

  • The Government Service Insurance System (GSIS) requires all government agencies to participate in its program that offers higher credit limits, longer repayment periods, and simplified application requirements.<br>GSIS issued Memorandum Circular No. 048, instructing government agencies to enter into a memorandum of agreement (MOA) for the Multi-Purpose Loan Flex Program (MPL FLEX).<br>Constitutional bodies, bureaus, national government agencies, local government units (LGUs), government-owned corporations, and state universities are among the entities required to comply with GSIS' directive.

State-run Government Service Insurance System (GSIS) has made it mandatory for all government agencies to join its program which offers increased credit limits, extended repayment periods, and simplified application requirements.

This directive was issued through GSIS Memorandum Circular No. 048, stipulating that government agencies must enter into a memorandum of agreement (MOA) for the Multi-Purpose Loan Flex Program (MPL FLEX).

Consequently, constitutional bodies, bureaus, national government agencies, local government units (LGUs), government-owned corporations, and state universities have been included in the list of entities mandated to comply with GSIS' order.

The pension fund’s new circular has also outlined a set of commitments in relation to the MPL Flex guidelines.

Based on the new circular, government agencies are required to prioritize repayment of loans to GSIS over any other lending institutions.

Furthermore, these agencies have been instructed to remit the collected loan balances from member-borrowers to GSIS by the 10th day of the following calendar month after the deadline.

Additionally, the memorandum stated that when an employee is separating from the service, the agency is required to temporarily suspend their benefits in order to address any outstanding GSIS loan obligations.

The MPL Flex loan is a program that offers a longer and more flexible payment period to members of the GSIS.

The term could range from one year to 15 years, allowing newly employed government persons—such as those who have served even for one month—to apply for this benefit.

MPL Flex has been targeted to launch in October 2023.

To be an eligible constituent of the MPL Flex, the GSIS member must be active under the permanent regular, non-career regular, or even special members, as tagged in their member’s service profiles.

According to the statement, qualified members must pay at least a month of premium contribution within the last 6 months of applying, or at least pay a month during the service period. Said contributions include personal and government shares of the applicant.

Active constituents must not: be on their leave of absence during their application, have a criminal record (unless they’re light offenses), have a default account in the GSIS Financial Assistance Loan (GFAL), and be suspended in their agency status.

After all the deductions in the necessary monthly obligations, the member’s resulting net take-home pay must not be lower than the amount required under the General Appropriations Act (GAA). The act covers the yearly operating requirements of the government.

The MPL Flex application can be done through the GSIS Wireless Automated System Kisok (GW@PS), GSIS Touch mobile app, GSIS office’s over-the-counter (OTC), and other acceptable alternative ways of applying. (Gabriell Christel Galang)

Related Tags

Government Service Insurance System (GSIS) GSIS MPL GSIS MEMBERS
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