State-run Government Service Insurance System said Tuesday it prepared a P6-billion budget to assist pensioners and members who were badly hit by typhoon Goring.
“We prepared our support, including emergency loan assistance, to ensure our members and pensioners are fully aware of this important financial lifeline,” GSIS president and general manager Wick Veloso said in a statement.
“The GSIS has allocated a P6-billion budget for this purpose and we are ready to assist those who are in need,” Veloso said.
He said active GSIS members living or working in the calamity-hit areas are eligible for the loan.
Their net take-home pay should also not go below P5,000 after all monthly deductions were made as mandated by the General Appropriations Act.
Pensioners living in the affected areas can also avail of the loan. However, their net monthly pension, after accounting for the loan, should not fall below 25 percent of their basic monthly pension.
Members with emergency loans may borrow up to P40,000 to settle previous loan balances, ensuring a maximum net amount of P20,000. Those without any outstanding emergency loan, including pensioners, can apply for a P20,000 loan.
The loan has a 6-percent interest rate and a three-year repayment term.
Members can apply for the loan anytime, anywhere via the GSIS Touch mobile app.
They can also go to the nearest GSIS kiosk located in major government offices such as the Department of Education, all GSIS branches, provincial capitols, city halls, municipal offices and select Robinson’s and SM malls.