GSIS opens emergency loans

The Government Services Assurance System (GSIS) announced yesterday that the pension fund will open its emergency loan program to help members and retirees affected by severe Tropical Storm Florita.

GSIS members who have an existing emergency loan balance can borrow up to P40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of P20,000. no existing emergency loan can apply for P20,000. Retirees can also apply for a loan of P20,000.

Active members residing or working in the disaster areas as well as old age and disability pensioners based in the same areas can apply for the loan after the areas have been declared in a state of disaster.

Eligible to apply are members who are on active duty and not on unpaid leave, have at least three months of premiums paid within the last six months, have no pending administrative or criminal cases, and are on salary. net of not less than P5,000 after deduction of all required monthly obligations.

“In addition to the emergency loan, our members can benefit from the multipurpose loan 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 Scheme or up to P500,000,” said Wick Veloso, President and CEO of GSIS.

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