GSIS prepares emergency loan for members and pensioners

GSIS prepares emergency loan for members and pensioners

GSIS readies emergency loan for members, pensioners to be affected by tropical storm Paeng.

State pension fund Government Service Insurance System (GSIS) informed today that members and pensioners who will be affected by tropical storm Paeng may avail of up to Php40, 000 emergency loan.

This was announced by GSIS President and General Manager Wick Veloso heeding the appeal of President Ferdinand Marcos Jr. for government agencies to ensure that help is extended to those hit by calamities.

Based on PAGASA’s 11am forecast today, Paeng may “intensify into a typhoon by Saturday.”

“As of 23 October this year, GSIS has already released a total of Php4.5 billion that provided financial assistance  to almost 145,000 GSIS active members and pensioners,” PGM Veloso  said.

He added that GSIS has allocated another Php1.5 billion in emergency loans for members and pensioners in 15 North Luzon areas hit by recent calamities. 

“We hope to alleviate the plight of over 69,000 GSIS members and pensioners working or residing in the calamity-declared areas in the North due to the 7.3 magnitude earthquake in July, Typhoon Karding in September, flashfloods, and dengue outbreak.”

The emergency loan is open to active members, and old-age and disability pensioners in Masantol, Pampanga who were affected by massive flooding; in the province of Occidental Mindoro due to the dengue outbreak; and  in Vigan City and the municipalities of Bauko and Besao in Mountain Province affected by the 7.3 magnitude earthquake in July.

The loan is also open to typhoon Karding-affected members and pensioners in the province of Nueva Ecija and municipalities of Polillo, Patnanungan, Panukulan, Jomalig, Burdeos, and General Nakar in Quezon; La Paz in Tarlac; Macabebe in Pampanga, and Dingalan, Aurora.

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.

Old-age and disability pensioners are also qualified to apply if their resulting net monthly take-home pension after loan availment is at least 25% of their basic monthly pension.

Members with 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. Pensioners and those without existing emergency loan may apply for a Php20, 000 loan.

For further details on the emergency loan program, members and pensioners may visit the GSIS website, or Facebook account, email [email protected], 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).