GSIS members can avail of emergency loans until December 2020

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(FILE PHOTO)

Metro Manila (CNN Philippines, October 21) — Government Service Insurance System emergency loans are available to members until December this year, an official said Wednesday.

Speaking to CNN Philippines, Nora Malubay, GSIS Core Business Sector executive vice president, said the program was closed in September, but was reopened.

"Ang emergency loan, nag-open po ulit kami. Nag-close po yan noong first week of September, pero nagkaroon po ng declaration na naextend yung state of calamity so nagreopen po kami noong September 28...extended hanggang December 2020," Malubay told Newsroom Ngayon.

[Translation: We reopened the emergency loans. It closed during the first week of September, but the state of calamity was extended, so we reopened on September 28...extended until December 2020.]

According to the GSIS, "Qualified borrowers with existing emergency loan may borrow up to Php40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of ₱20,000. Those without existing emergency loan may apply for ₱20,000. However, those who have already availed of the COVID-19 emergency loan are no longer qualified to apply."

In September, GSIS said some ₱15 billion in cash loans have been released to members since the COVID-19 crisis.

Emergency loans were launched in mid-April, said GSIS President and General Manager Rolando Macasaet.

The GSIS also reminded pensioners that in the light of the pandemic, they have temporarily deferred the "proof of life" scheme until the end of the year, as retirees will continue to receive pension. Under its revalidation process, the GSIS requires pensioners to show proof of life by appearing personally at any GSIS office or use the GSIS Wireless Automated Processing System kiosk to activate their status.

By January 2021, GSIS employees will make the necessary arrangements to confirm proof of life among pensioners, including online cofirmation.