GSIS members, pensioners in Mindoro affected by oil spill may avail of emergency loan

The Government Service Insurance System (GSIS) said members and pensioners in Calapan City and five municipalities in Oriental Mindoro affected by the oil spill from MT Princess Empress may avail of emergency loan.

The GSIS said it has allocated P193.92 million in emergency loan for those affected.

"We have allocated PhP193.92 million in emergency loan for our 7,714 active members and old-age and disability pensioners in Calapan City as well as the municipalities of Baco, San Teodoro, Soccoro and Victoria," GSIS president and general manager Wick Velasco said.

Interested GSIS members and pensioners may apply for emergency loan until May 17, he added.

Those who are qualified to apply have to meet the following requirements:

• members in active service and not on leave of absence without pay;
• have at least three months of paid premiums within the last six months prior to application;
• have no pending administrative or criminal case;
• have no due and demandable loan; and

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• have a net take-home pay of not lower than P5,000 after all required monthly obligations have been deducted.
   

As for pensioners (old-age and disability), they may apply for emergency loan "if their resulting net monthly take-home pension after loan availment is at least 25% of their basic monthly pension," the GSIS said.

"Members with existing emergency loan balance may borrow up to P40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of P20,000. Meanwhile, pensioners and those without existing emergency loan may apply for a P20,000 loan," it added.

The emergency loan is payable in three years or 36 equal monthly installments. Interest rate is 6% per annum, GSIS said.

GSIS first offered the emergency loan to 5,170 members and pensioners in nine areas in Oriental Mindoro, with deadline of application last April 9.

Those interested to avail of the emergency loan may visit the GSIS website or Facebook account (@gsis.ph); email gsiscares@gsis.gov.ph; or call the GSIS Contact Center at 8847-4747 if in Metro Manila or 1-800-8-847-4747 (for Globe and TM subscribers) or 1-800-10-847-4747 (for Smart, Sun, and Talk ’N Text subscribers).

The MT Princess Empress capsized on February 28 and sank off Najuan, Oriental Mindoro while carrying 900,000 liters of industrial fuel. The resulting leak has affected ecologies, livelihoods, and residents' health in Oriental Mindoro and nearby provinces. —KG, GMA Integrated News