The state-run Government Services Insurance System (GSIS) will open its emergency loan program to help members and retirees affected by severe Tropical Storm “Florita.”
In a statement, Jose Arnulfo “Wick” Veloso, President and CEO of GSIS, said affected members and retirees who do not have an existing emergency loan can apply for P20,000.
GSIS members who have an existing emergency loan balance can borrow up to P40,000 to repay their previous emergency loan balance and will receive a maximum net amount of P20,000, Veloso said.
However, he said active members residing or working in the affected areas as well as retirees and disabled people based in the same areas can only apply for the loan after the areas have been declared in a state of calamity.
Qualified to apply are members who are on active duty and not on leave without pay; have at least three months of premiums paid in the last six months; and have no pending administrative or criminal case.
Borrowers must also have a net net salary of at least P5,000 after deducting all required monthly obligations.
“Besides the emergency loan, our members can avail of the Multipurpose Loan (MPL) Plus, which has a loan limit of up to 5 million pesos. Retirees, on the other hand, can borrow up to six months of their pension under our enhanced pension loan program or up to 500,000 pesos,” says Veloso.
The head of the pension fund added that GSIS will provide financial aid of P400,000 each to six schools in North Luzon under its Adopt-a-School scheme in partnership with the Department of Education.
The support package includes support for technology and learning aids, infrastructure and furniture.
“It is one of 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.
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