MANILA, Philippines — Members and pensioners of the Government Service Insurance System (GSIS) in Luzon who were affected by Super Typhoon Karding may borrow from the state pension fund up to P40,000 to help them recover from the devastation.
Arnulfo “Wick” Veloso, president and general manager of the GSIS, said the GSIS earmarked P4 billion for emergency loans this year.
“We will ensure that the loan assistance will be available to all qualified active members and old-age and disability pensioners based in the affected areas,” Veloso said.
Members with emergency loan balance may borrow up to P40,000 to pay off their loan balance and still receive a maximum net amount of P20,000.
Members and pensioners with no emergency loan may apply for P20,000, with an annual interest of 6 percent and payable in two years