State workers’ pension fund Government Service Insurance System (GSIS) on Wednesday announced it is providing emergency loans to its members and pensioners in areas affected by Typhoon Enteng.
In a statement, GSIS said the emergency loan for Enteng-hit members and pensioners will be opened once the pension fund obtains the areas declared under state of calamity following the recent weather disturbance.
The pension fund said the emergency loan for Enteng-affected members and pensioners builds on the ongoing emergency loan program, which has already been activated in several calamity-declared areas across the country.
For the ongoing emergency loan for those in areas affected by the combined effects of Habagat and Typhoon Carina, the respective deadlines for application are as follows:
- October 26, 2024 for Baco and Pinamalayan, Oriental Mindoro
- October 25, 2024, for Batangas, Rizal, and National Capital Region
- October 29, 2024, for Bulacan and Pampanga
- October 31, 2024 for Camiling, Tarlac
- November 1, 2024 for San Andres, Romblon and Mabitac, Laguna
- November 5, 2024 for Ilocos Norte and La Union
- November 13, 2024 for Ilocos Sur
- November 21, 2024 for Mangatarem, Pangasinan
“To qualify for the emergency loan, active members must reside or work in a calamity-declared area, not be on unpaid leave, have no pending administrative or legal cases, have no due and demandable loan, and have made at least six monthly premium payments prior to applying,” GSIS said.
“Their take-home net pay must not be less than P5,000, as stipulated by the General Appropriations Act,” it said.
The pension fund added that old-age and disability pensioners must ensure that their net monthly pension remains at least 25% after deductions for loan amortization.
“Members and pensioners with an existing emergency loan balance may borrow up to P40,000 to settle their previous loans, with a maximum net amount of P20,000,” GSIS said.
“Those without existing balances may apply for a P20,000 loan. The loan offers a low interest rate of 6% per annum, with a repayment period of three years,” it said.
GSIS said qualified members and pensioners can apply for the loan online through the GSIS Touch mobile app.
“They may also submit their applications through GSIS Wireless Automated Processing System (GWAPS) kiosks located in GSIS branches nationwide, major government offices such as the Department of Education, provincial capitols, city halls, municipal offices, and select Robinson’s and SM malls,” it said. —VAL, GMA Integrated News
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