GSIS acts to aid members in typhoon-hit provinces

MANILA, Philippines - The Government Service Insurance System (GSIS), the state pension fund for government employees, has expanded its emergency loan facility for members working in government offices heavily hit by typhoon “Frank” in the third quarter of last year.

According to the GSIS, members in the provinces of Guimaras, Benguet, Abra, Ifugao, and those in the Mountain Province are eligible for the P20,000 emergency loan. Those in the cities of Meycauayan and San Jose Del Monte in Bulacan are also eligible.

Furthermore, GSIS said those in Muntinlupa City in the National Capital Region and Cebu City in Visayas; and those in the municipalities of Baliuag, Bacoor, Kawit, Imus, Amadeo, Naic, Tabogon, Marantao, Tamparan, and Ditsa-an Ramain are also now eligible for the loans.

GSIS said members in these areas have until March 1 to file their respective application for the emergency loan.

GSIS’ emergency loan bears an interest rate of eight percent per annum and payable in equal monthly installment for a term of three years.

GSIS deducts a monthly amortization of P688.89 from the salaries of the borrowing members.

To qualify for the emergency loan, the member-applicant must be: a bona fide employee of the government office within the declared calamity area; be in active service and not on leave of absence without pay; has no pending criminal or administrative charges; has no arrearages in the payment of mandatory social insurance contributions; and has no loan that has been declared in default.

In addition, the agency of the member-applicant must not be suspended due to non-payment and non-remittance of premiums and loans.

If the member-applicant still has an outstanding emergency loan, this will be deducted from the proceeds of the new loan.

Last year, the GSIS made available the loan window to eligible members working in government offices in different parts of the country that were ravaged by typhoons “Frank” and “Cosme.”