THE Government Service Insurance System (GSIS) announced it will start accepting applications for its emergency loan program from about 7,000 members and pensioners in Abra province today, Aug. 5, 2022, which was the epicenter of the magnitude 7 earthquake that struck the country on July 27.
“We are encouraging our members and pensioners who have been affected by the earthquake to avail of the GSIS emergency loan. GSIS is here to help,” Jose Arnulfo “Wick” Veloso, GSIS president and general manager, was quoted as saying in a statement issued by the government pension fund on Thursday.
GSIS said this is a reaction to President Ferdinand “Bongbong” Marcos Jr.’s call for the government to make sure that individuals who require assistance get it.
The pension fund announced it is prepared to activate the emergency loan facility to provide financial help to its members and pensioners in Northern Luzon as early as July 28, the day following the earthquake.
However, in accordance with the regulations, it is required to hold off on launching the loan program until the affected districts have been designated as calamity areas.
“The other provinces in North Luzon have yet to be declared as calamity areas, but GSIS is ready to open the emergency loan program once the declaration has been done,” Veloso noted.
Elderly and disability pensioners who live in the area and are active GSIS members who are working or living there may apply for the loan until September 4.
Members and pensioners may borrow up to P40,000 if they have an existing emergency loan and want to reapply for one. Their loan revenues will be used to pay the outstanding obligation. Those who don’t have access to an emergency loan can apply for a P20,000 loan. Pensioners are also permitted to borrow P20,000.
The borrower’s temporary eCard Plus account or UMID card will be promptly credited with the funds.
GSIS said it has already set up six mobile GSIS Wireless Automated Processing System kiosks in remote areas of the province to let potential loan applicants apply for loans more quickly and affordably.
“As for the government properties in Abra that were damaged by the earthquake, we will make sure that the GSIS pays to rebuild the damaged government properties insured by the GSIS,” Veloso added.
He said that seven out of the 29 government buildings destroyed by the earthquake had already been examined by the pension fund, and the extent of the damage had been determined.