GSIS to open emergency loan in Abra starting Friday - TrueID

GSIS to open emergency loan in Abra starting Friday

Philippine News AgencyAugust 4, 2022

MANILA – State pension fund Government Service Insurance System (GSIS) will open on Friday its emergency loan program to nearly 7,000 members and pensioners in Abra, the epicenter of the 7.0 magnitude earthquake that hit Northern Luzon last July 27.

“We are encouraging our members and pensioners who have been affected by the earthquake to avail of the GSIS emergency loan.Nandito po ang GSIS para tumulong (The GSIS is here to help)," said GSIS president and general manager Wick Veloso in a statement Thursday, in response to the appeal of President Ferdinand Marcos Jr. to ensure that those who need help receive assistance from the government.

As early as July 28, the day after the earthquake, the pension fund has already announced that it is prepared to open the emergency loan facility to extend financial assistance to its members and pensioners in Northern Luzon.

However, under the guidelines, GSIS has to wait for the declaration of the affected localities as calamity areas before it could open the loan program.

"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 said.

Affected active GSIS members working or residing, as well as old-age and disability pensioners residing in the area, may apply for the loan until September 4.

Members and pensioners with existing emergency loans and would like to apply for the loan  anew may borrow up to PHP40,000. The remaining balance will be deducted from their loan proceeds.

Those without emergency loans may apply for a PHP20,000 loan. Pensioners may similarly borrow P20,000.

The proceeds will be directly credited to the borrower’s UMID (Unified Multi-Purpose Identification) card or temporary eCard Plus account.

GSIS already deployed six portable GSIS Wireless Automated Processing System (GWAPS) kiosks to far-flung  areas in the province to enable prospective loan applicants to save time and money in applying for the loan.

"Sa mga pag-aari naman ng gobyerno sa Abra na nasira ng lindol, titiyakin po natin na  magbabayad ang GSIS upang magawang muli ang mga nasirang pag-aari ng pamahalaan na naka-insure sa GSIS. Sa ngayon, na-inspeksyon na namin at na-assess ang damage ng pito sa 29 na gusali ng gobyerno na nasira ng lindol (To government properties in Abra damaged by earthquake, we assure that the GSIS will pay so damaged government properties insured with GSIS can be reconstructed)," Veloso added.

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