State pension fund Government Service Insurance System (GSIS) President and General Manager Wick Veloso announced today that GSIS is prepared to open its emergency loan program to assist its members and pensioners in Luzon who will be affected by super typhoon Karding.
“We have allocated Php4 billion for our emergency loan budget this year so we are ready to help our kababayan in Luzon. We will ensure that the loan assistance will be available to all qualified active members and old-age and disability pensioners based in the affected areas,” the GSIS chief said.
Members who have existing emergency loan balance may borrow up to Php40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of Php20,000. Those without existing emergency loan may apply for Php20,000. Pensioners may likewise apply for a Php20,000 loan. The loan has a 6% interest and is payable in two years.
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; 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.
Meanwhile, other loan windows are available for members and pensioners who are not qualified for emergency loan. Members may apply for the Multi-purpose Loan (MPL) Plus which has a maximum loanable amount of Php5 million, while pensioners may borrow up to six-month’s worth of their pension or up to Php500,000 under the enhanced Pension Loan program.
GSIS has also set aside Php10 million worth of financial assistance to benefit 25 schools nationwide, 10 of which are in Luzon, as part of its Adopt-a-School Program in partnership with the Department of Education. The assistance includes support for technology and assistive learning devices, infrastructure, and furniture.
For details on GSIS’s programs, members and pensioners may visit the GSIS website (www.gsis.gov.ph) or Facebook page (@gsis.ph); email email@example.com; or call the GSIS Contact Center at 8847-4747 (if in Metro Manila) or 1-800-8-847-4747 (for Globe and TM subscribers) or 1-800-10-847-4747 (for Smart, Sun, and Talk ‘N Text subscribers).