Sen. Lito Lapid seeks probe into GSIS housing loan program suspension

MANILA, Philippines – Senator Lito Lapid has asked the Senate to look into the suspension of the Government Service Insurance System’s (GSIS) housing loan program following its failure to collect the total unpaid loans of P11 billion.

Lapid filed Senate Resolution 473, directing the appropriate committees of the Senate to investigate the matter.

“There is a need to investigate this matter and institute legislative measures to address this issue and to be fair to active and eligible GSIS members who are religiously paying their obligations and who wish to avail of GSIS’ housing loan program,” said the resolution.

As a social insurance institution, the resolution said it was the GSIS’ responsibility to secure the future of all government employees as it provided and administered a pension fund.

“And among the service privileges of active GSIS members is a housing loan which was made available since 1954 and may be availed by eligible members and may be paid either through payroll deduction, post-dated checks or direct payment,” it pointed out.

The resolution noted that no less than the GSIS President and General Manager Robert Vergara had said that the GSIS “is really not a housing institution … it is first and foremost a pension fund.”

“It is very well within the mandate of the GSIS to provide housing loans programs to active and eligible members,” it said.