Members and pensioners of the Government Service Insurance System (GSIS) who were affected by Severe Tropical Storm Florita, even with an 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.
GSIS President and General Manager Wick Veloso announced on Wednesday that members and pensioners without existing emergency loans may apply for PHP20,000.
But Veloso clarified that only active members residing or working, as well as old-age and disability pensioners, in affected areas may apply for the loan after they have been declared under a state of calamity.
He said members who are qualified to apply should be 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.
“Aside from emergency loan, our members may avail of the Multi-purpose Loan (MPL) Plus, which has a loan ceiling of up to P5 million. Pensioners, on the other hand, may borrow up to six months’ worth of their pension under our enhanced Pension Loan program or up to P500,000.” Veloso said.
GSIS will also provide financial assistance worth PHP400,000 each to six schools in Northern Luzon as part of its Adopt-a-School Program in partnership with the Department of Education.
The package of assistance includes support for technology and assistive learning devices, infrastructure, and furniture.
“This is out of the 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 said. (PNA)