THE Government Service Insurance System (GSIS) has released P4.1 billion in loan assistance from March 27 to April 30 to some 60,000 government workers and pensioners nationwide, the pension fund said yesterday.
GSIS said in a statement that although most parts of the country are in enhanced community quarantine, it was able to disburse P3.48 billion in various regular loans to 25,198 GSIS members and pensioners nationwide during the period.
In addition to these regular loan programs, the state pension fund opened the coronavirus disease 2019 (COVID-19) Emergency Loan program to its 2.1 million members and pensioners last April 13.
“I am very proud to say that in just 17 days, from April 13 to April 30, GSIS has granted P664 million in emergency loan to some 33,000 borrowers nationwide,” said Rolando Macasaet, GSIS president and general manager.
Earlier this month, the pension fund said this loan program was enhanced to make it more responsive to the needs of GSIS members and pensioners.
“Under the enhanced program, we now allow members who have in-default loan accounts (with arrears of more than six months) to renew their emergency loan. We have also reduced the paid premium requirement from six months to only three months,” Macasaet said.
“However, since this is the first time for GSIS to offer the emergency loan on a national scale, there may be some delays due to systems maintenance activities. I am grateful for the patience and understanding of our stakeholders during this time,” he added.
Considering that systems enhancements are still in progress, members and pensioners whose emergency loan were renewed and granted from April 13 to 30, may renew their loans starting May 11 this year, the pension fund said.
To avail of the COVID-19 Emergency Loan, members and pensioners must email only two requirements to GSIS: duly-accomplished emergency loan application form which is downloadable from the GSIS website (https://www.gsis.gov.ph/
If their UMID or eCard has been lost, the photo of the borrower holding his or her two valid IDs and a clear photo of the two valid IDs must be submitted.
The application form and requirements must be sent to the designated email address according to the members’ place of work or pensioners’ residence: gsisncr@gsis.gov.ph
Members may also apply for emergency loan through the GSIS Wireless Automated Processing System kiosks located in all GSIS branches, Department of Education offices, provincial capitols, city or municipal halls, and selected SM and Robinsons malls nationwide. Pensioners may only apply via email.
Once the loan is approved, the proceeds will be directly credited to the UMID card or temporary eCard account of the borrower.
