GSIS moves deadline for Pablo-related emergency loan applications to Jan 18
MANILA, Philippines—The Government Service Insurance System said the deadline for the filing of applications for the emergency loans of those affected by typhoon “Pablo” has been extended by two weeks until Jan. 18.
The loan program, through which qualified members can take home P20,000 each, covers those who live or work in Aklan, Antique, Biliran, Bohol, Capiz, Iloilo, Leyte, and Negros Occidental.
Robert G. Vergara, GSIS president and general manager, said in a statement the deadline was extended in response to the clamor of members in the Visayas, who also endured the effects of typhoon “Quinta” in the wake of Pablo.
“We also have a group of members who became qualified for the loan after their agencies committed to update their unpaid premiums through a memorandum of agreement,” Vergara said.
“The agreement effectively lifted their agencies’ suspension hence restoring the members’ loan privileges,” he added.
He was referring to Local Water District in Kauswagan and the local government of Bacolod town, both in Lanao del Norte.
Data from the GSIS show that so far, since the emergency loan program related to Pablo was started in Dec. 7, some 251,000 qualified members have taken out a total of P4.4 billion.
Also, the GSIS’ emergency loan program has extended P7 billion worth of benefits to 390,000 members in the whole of 2012.
According to the GSIS, its upgraded and more reliable database and enhanced capabilities in using computer networks helped provide members with much-needed funds because it was able to process more loan applications.
The state pension fund said that in the past few weeks, it has processed up to 50,000 Pablo-related applications daily.
This means an increase of almost thrice in volume from the 17,000 loan applications that GSIS was able to handle in 2009 in the aftermath of Typhoon “Ondoy.”
We are “continually updating (our) database to reflect the current premium and loan remittances of members, so that more can avail themselves of their benefits and loan privileges such as the emergency loan,” GSIS said in an earlier statement.