GSIS announces early release of May pension for members

MANILA, Philippines —  The Government Service Insurance System (GSIS) on Wednesday announced that it will release the pension of its members earlier than scheduled for the month of May in view of the ongoing health crisis brought about by the coronavirus disease (COVID-19).

In a televised Laging Handa public briefing, GSIS president and general manager Rolando Macasaet said that the social insurance institution will release pensions on May 5, 2020, earlier than the usual crediting date of every eighth of the month.

“Itong Mayo, tutal holiday ‘yung May 1, sa May 5 ire-release rin naman mas maaga ‘yung pension ng mga miyembro ng GSIS,” Macasaet said.

He also noted of the increase in the number of loan applications after the agency implemented online processing.

The GSIS has set aside over P30 billion for the emergency loan program for members and pensioners, who are taking financial hits from the impact of COVID-19.

The maximum loan amount for COVID-19 crisis is P20,000, payable in three years, and with six percent interest per annum.

To apply, borrowers must e-mail the following: filled up emergency loan application form downloadable from the GSIS’s website (https://www.gsis.gov.ph/downloadable-forms); picture or scanned copy of the borrower’s GSIS electronic card (eCard) or unified multi-Purpose identification (Umid) card, or two valid IDs; and borrower’s photo while holding the accomplished application form.

JPV