By Tracy Cabrera
GSIS, Pasay City — In consideration of the more than 108,000 active members and pensioners affected by recent calamities, the Government Service Insurance System (GSIS) is reminding victims that it has a ₱2.64-billion emergency loan program available to help them recover from disasters that have disrupted their livelihoods.
Over the weekend, GSIS President and General Manager Jose Arnulfo “Wick” Veloso issued the reminder as he announced that the program covers qualified active members, as well as old-age and disability pensioners, who reside or work in areas officially declared under a state of calamity.
Veloso disclosed that the state pension fund has already opened emergency loan windows in several provinces affected by flooding, torrential rains, typhoons, and El Niño-related dry conditions.
In Sorsogon, GSIS has allocated nearly ₱319 million in emergency loans for 12,909 members and pensioners affected by recent calamities. Applications in the province will be accepted until May 15.
In Cagayan, where communities continue to grapple with the effects of El Niño, around 31,566 members and pensioners may apply for assistance until May 31. GSIS has earmarked almost ₱733 million for the province.
Members and pensioners in Davao del Norte and Surigao del Sur may likewise access emergency loans totaling ₱696.6 million following severe flooding and landslides caused by torrential rains and Typhoon Basyang, which displaced residents and damaged infrastructure. Applications in the affected areas are open until June 3.
Veloso said that under the emergency loan program, qualified borrowers may receive up to ₱20,000 if they do not have an existing emergency loan balance.
“Members and pensioners with outstanding emergency loan balances may borrow up to ₱40,000 to pay off prior obligations and receive a net amount of as much as ₱20,000,” he clarified.
“The loans are payable over 36 monthly installments with a 6 percent annual interest rate. Borrowers are also granted a two-month grace period before the first deduction. The package includes loan redemption insurance,” he added.
According to GSIS emergency loan guidelines, active members must be working or residing in calamity-declared areas, should not be on leave without pay, and must have no pending administrative or criminal case. They are also required to maintain a net take-home pay of at least ₱5,000 after all mandatory deductions and loan amortization. Old-age and disability pensioners may also apply, provided they retain at least 25 percent of their monthly pension after loan deductions.
Veloso encouraged members and pensioners to submit applications through the GSIS Touch mobile application to speed up processing and reduce the need for in-person transactions.
He explained that approved loan proceeds will be credited directly to the borrower’s designated ATM account.
He also advised members to monitor official GSIS advisories and announcements through its website and verified social media accounts for updates on application schedules and eligibility requirements.
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