The Government Service Insurance System (GSIS) has opened its emergency loan in five more areas in Oriental Mindoro affected by the oil spill from MT Princess Empress which capsized on February 28, the pension fund said in a statement yesterday.
“We have allocated P193.92 million in emergency loan for our 7,714 active members and old-age and disability pensioners in Calapan City as well as the municipalities of Baco, San Teodoro, Soccoro and Victoria. They may now apply for the loan until May 17,” said Wick Veloso, GSIS president and general manager.
GSIS first offered the loan window to 5,170 members and pensioners in nine Oriental Mindoro areas, with the application deadline until April 9.
Qualified to apply are members in active service and not on leave of absence without pay; have at least three months of paid premiums within the last six months prior to application; have no pending administrative or criminal case; have no due and demandable loan; and have a net take-home pay of not lower than P5,000 after all required monthly obligations have been deducted.
Old-age and disability pensioners are also qualified to apply if their resulting net monthly take-home pension after loan availment is at least 25 percent of their basic monthly pension.