GSIS lends hand to ‘Florita’-hit members

The Government Service Insurance System announced that it will open its emergency loan program to assist its members and pensioners affected by severe tropical storm “Florita.”

GSIS president and General Manager Wick Veloso disclosed that aside from emergency loans, members may avail of the Multi-purpose Loan Plus which has a loan ceiling of up to P5 million.

For pensioners, Veloso said that they may borrow up to six-months’ worth of their pension under the agency’s enhanced Pension Loan program or up to P500,000.

He added that GSIS members who have existing emergency loan balance may borrow up to P40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of P20,000 while those without existing emergency loan may apply for P20,000.

Pensioners may also apply for a P20,000 loan.

“Active members residing or working in affected areas as well as old-age and disability pensioners based in the same areas may apply for the loan after the areas have been declared under a state of calamity,” Veloso said.

The GSIS president added that those 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 P5,000 after all required monthly obligations have been deducted.

The pension fund chief said that GSIS will provide financial assistance of P400,000 each to six schools in North 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.

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