GSIS to offer P178M worth of emergency loans in Sta. Rosa, Laguna amid pertussis

The Government Service Insurance System (GSIS) has allocated P178 million for emergency loans which will be made available to members and pensioners in Sta. Rosa City in Laguna affected by pertussis or whooping cough.

In an advisory, the GSIS said qualified members and pensioners without any outstanding loans can apply for a P20,000 loan at a 6% interest rate and a three-year payment term.

Those with current emergency loans can borrow up to P40,000 to settle previous loan balances, bringing the maximum net amount of P20,000.

Among those qualified are active members living or working in Sta. Rosa, and old-age and disability pensioners residing in calamity areas who have paid premiums within the last six months prior to application.

They must also not be on leave of absence without pay, not have any pending administrative or criminal case, and must have a net take-home pay of at least P5,000 after all monthly obligations have been deducted.

Pensioners may qualify provided their resulting net basic monthly pension after availment is at least 25%.

Applicants can contact the GSIS through its official website, its social media page, email, or hotline for inquiries regarding the loan.

Under its charter, the GSIS is mandated to ensure that its members are insured against the occurrence of certain contingencies in exchange for their monthly premium contributions. They are entitled to benefits such as life insurance, separation or retirement benefits, and disability benefits.

It earlier announced P2.5 billion in emergency loans for members and pensioners affected by the pertussis outbreak in Cavite, and the El Niño phenomenon in Occidental Mindoro.

The GSIS is also the administrator of the General Insurance Fund, providing insurance coverage to government assets and properties that have government-insurable interests.

The agency reported a 70% increase in its net income in 2023 to P113.3 billion from P66.4 billion in 2022, as revenues increased by 33% to P311.3 billion from P234.9 billion in the previous year. —Jon Viktor D. Cabuenas/KBK, GMA Integrated News