GSIS set to launch housing program for gov’t workers

PALAYAN City, Nueva Ecija— State pension fund Government Service Insurance System President and General Manager Jose Arnulfo A. Veloso said that the GSIS would launch a housing program for government employees next year.

However, Veloso said they are still firming up the structure. Still, he said this will be approved by the GSIS Board in January.

Veloso made the announcement following the signing of a memorandum of understanding with the Department of Human Settlements and Urban Development (DHSUD) last Wednesday. The MOU aims to help provide housing for over six million families nationwide.

The MOU provides modes by which participating GFIS may support the government’s housing initiatives—by formulating or enhancing their own housing programs and developing housing projects and giving options to both the private sector and government employees to obtain ownership or rights to developed housing units.

Under the program, the award of the housing units will be in the form of lease rights for a maximum of 100 years. This means that the awardees will have the right to use and enjoy the housing unit as residence by paying only the monthly rental.

The sale of rights will only be granted to first time homebuyers, PAG-IBIG Fund members and minimum wage earners.

Veloso said this arrangement provides a safety net to unscrupulous individuals.

“GSIS will adopt the same for government employees the allocation for which will be based on the breakdown of our sectoral membership,” the GSIS chief was quoted in the statement as saying.

Aside from the GSIS, other signatories to the MOU included the Home Development Mutual Fund, the Social Security System, the Land Bank of the Philippines and the Development Bank of the Philippines.