GSIS members, pensioners swamp loan programs

Retired and current state workers swamped the Government Service Insurance System’s (GSIS) several loan program as most parts of the country remain under enhanced community quarantine (ECQ).

In a statement, Rolando Ledesma Macasaet, GSIS president and general manager, said that some 60,000 government workers and pensioners have secured various loans from the state-owned pension fund as of April 30.

According to Macasaet, GSIS has already disbursed ₱4.1 billion to cover the loans by its members and pensioners amid the ECQ period, which President Duterte extended twice since the original end date of April 15.

Based on GSIS data, the fund disbursed ₱3.48 billion in various loans, such as Conso-Loan, Policy Loan and Pension Loan, to 25,198 members and pensioners nationwide between the period March 27 and April 30.

In addition to the regular loan programs, the GSIS also opened the COVID-19 emergency loan program to its 2.1 million members and pensioners last April 13.

“I am very proud to say that in just 17 days, from April 13 to April 30, GSIS has granted Php664 million in emergency loan to some 33,000 borrowers nationwide,” Macasaet stated.

Earlier, the COVID-19 emergency loan program was enhanced to make it more responsive to the needs of GSIS members and pensioners.

“I would like to thank our Board of Trustees, headed by former Chief Justice Lucas Bersamin, for the swift approval of the COVID-19 Enhanced Emergency Loan program which relaxed the loan eligibility rules,” Macasaet said.