NEGROS OCCIDENTAL, Feb. 5 (PIA)-- State pension fund Government Service Insurance System (GSIS) enhanced its pension loan program by increasing the maximum loanable amount to six times the monthly pension, up to a maximum loan of P500,000, regardless of the pensioner’s age, a press release from GSIS Bacolod said.
“Previously, only old-age pensioners who are 64 years-old and below may avail of the maximum amount equivalent to six times their monthly pension. Pero dahil gusto naming mabigyan ng ginhawa ang lahat ng old-age pensioners sa gitna ng pandemyang apektado ang lahat, pwede nang makahiram ang lahat ng old-age pensioner ng maximum amount kahit 65 years-old o higit pa sila,” GSIS President and General Manager Rolando Ledesma Macasaet said in the press report.
“Itinaas na rin namin ang credit limit mula sa P100,000 hanggang P500,000 sa ilalim ng Enhanced Pension Loan (EPL),” he added.
According to GSIS, old age pensioners may now avail of the EPL. Qualified are old-age pensioners who are receiving their pension for at least a month.
Not qualified to the program are those who have service loan being amortized under the Choice of Loan Amortization Schedule for Pensioners or GSIS Program for Restructuring and Repayment of Debts at the time of application and those who have existing pension loan that have not yet been fully paid.
The applicant must also have at least 25 percent resulting net monthly pension after loan deduction.
The Enhanced Pension Loan is payable in 24 equal monthly instalments through automatic pension deduction with an interest of 10 percent.
For the members’ safety, qualified pensioners are encouraged to apply online via the Electronic GSIS Member Online (eGSISMO) or by emailing the requirements to their designated branch office.
Applicants must submit a properly accomplished form and photo holding their electronic card (eCard) or unified multipurpose identification (UMID) card or any two government-issued IDs with their photo and signature and a newspaper bearing the same date of their application, the state fund said.
If the newspaper is not available, they may have their photo taken beside a television where the latest date or news item is flashed on the screen.
They may also opt to apply over-the-counter at any GSIS branch office nationwide.
A properly accomplished application form must be submitted and their pensioner’s eCard or UMID card must be presented or any two government-issued IDs with their photo and signature.
Application via the GSIS Wireless Automated Processing System (GWAPS) kiosk is initially available in GWAPS kiosks located at the GSIS Head Office in Pasay City, Manila. Availability in other GWAPS kiosk will be announced in the coming weeks.
Loan proceeds will be accredited to the pensioners eCard or UMID card.
For more details, interested parties may visit the GSIS website, www.gsis.gov.ph, or the GSIS Facebook Page, @gsis.ph; or call the GSIS Contact Center at 8847-4747 (if in Metro Manila) or 1-800-8-847-4747 (for Globe and TM subscribers) and 1-800-10-847-4747 (for Smart, Sun, and Talk ‘N Text subscribers).
For further details and inquiries, members in Negros Occidental may contact the local office here through email address gsisbacolod@gsis.gov.ph. (GSIS-Bacolod/JSC/Lljr/PIA6 Negros Occidental)
Source: Philippines Information Agency (pia.gov.ph)
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