Economy · August 5, 2022

GSIS will offer emergency loans to members of Abra, hit by the earthquake

The STATE Government Service Insurance System (GSIS) pension fund has announced that it will open an emergency loan program on August 5 to nearly 7,000 members and retirees in Abra, the epicenter of the 7.3-magnitude earthquake that struck the country last year. July 27.

“We are encouraging our members and retirees who have been affected by the earthquake to take advantage of the GSIS emergency loan,” GSIS President and CEO Jose Arnulfo A. Veloso said in a statement. “Discover the GSIS for tumulong.” [The GSIS is here to help.]

According to the GSIS statement, it has already announced as early as July 28, the day after the earthquake, that it is ready to open the emergency loan to extend financial assistance to its members and retirees in northern Luzon. However, according to the guidelines, the GSIS must wait for the affected locations to be declared as disaster areas before they can open the loan program.

“The other provinces in northern Luzon have yet to be declared areas of disaster, but the GSIS is ready to open the emergency loan program once the declaration is made,” Veloso said.

Interested active GSIS members who work or reside, as well as old-age and disability pensioners residing in the area can apply for the loan until September 4, the statement read.

Members and retirees with an existing emergency loan and who wish to re-apply for the loan can borrow up to P40,000. The remaining balance will be deducted from the loan proceeds. While those without an emergency loan, they can apply for a loan of P20,000. Likewise, retirees can borrow P20,000.

The proceeds will be credited directly to the borrower’s UMID card or temporary eCard Plus account.

GSIS said six portable wireless automated computing system kiosks have been deployed in remote areas of the province to allow potential loan applicants to save time and money in applying for the loan.

“Know of people of Abra and Lindol, titiyakin to natin magbabayad of the GSIS to ask for nasirang mules like pamahalaan naka-assuring on the GSIS. Now, it checks and evaluates the damage caused by 29 people suffering from lindol, “Veloso added. [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. So far, we have inspected and assessed the damage of seven of the 29 government buildings damaged by the earthquake.]