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MANILA - The Government Service Insurance System (GSIS) has released a total of PHP221 billion in loans to 1.38 million active members and pensioners nationwide from January 2021 to May 15, 2022. "We rolled out several programs under our Ginhawa for All benefit bundles to extend financial assistance at a time when our members and pensioners needed it most. Alam namin na GSIS ang inaasahang mangalaga sa seguridad at kapakanan ng mga kawani ng gobyerno. Ang malaking responsibilidad na ito ay bahagi ng ating tungkulin (We know that GSIS will have to take care the security and welfare of the government employees. This big responsibility is part of our mandate)," GSIS President and General Manager Rolando Ledesma Macasaet said in a news release on Thursday. Of the total amount of loans granted, PHP165 billion was in multi-purpose loan (MPL), which benefitted 468,872 borrowers. The loan aims to help active members, particularly those who have reached their borrowing limit and unable to pay their loans. MPL consolidates members' existing loans and waives surcharges on in-default loan accounts. In April 2022, GSIS launched the enhanced MPL program by coming out with the MPL Plus. Under MPL Plus, members may apply for up to 14 times their basic monthly salary, but not to exceed PHP5 million, depending on their premium payments. The loan has a low interest rate of 7 percent and its term has been extended to 10 years. Under another loan product, the Computer Loan program, GSIS disbursed PHP7.6 billion in gross proceeds to 253,481 borrowers. It is a loan window that grants a PHP30,000 assistance to GSIS members for the purchase of a computer unit for their work-from-home arrangement or their children's online classes. The computer loan is payable in three years with 6 percent interest per annum. This year, GSIS extended the implementation of the program for another three months (or until June 2022) to give more time for the 1.56 million qualified members to avail of the loan. GSIS also processed a total of 64,381 applications under the GSIS Financial Assistance Loan (GFAL) program from 2021-May 15, 2022, disbursing a total amount of PHP27.8 billion. GFAL is a balance- transfer facility aimed at enabling GSIS members settle their outstanding loan balance with other lending institutions with reduced interest rate and longer payment term. Through GFAL, GSIS intends to improve the financial capability of GSIS members and save them from the bondage of debt. Aside from MPL, computer loan, GFAL and GFAL Educational Loan, GSIS also offers the regular policy loan and emergency loan. It released PHP8.8 billion to 355,956 policy loan borrowers and another PHP5.519 billion to 165,352 emergency loan borrowers from January 2021 to May 15, 2022. Policy loan is a program where members may avail of from their GSIS life insurance policy. The loan, bearing an 8 percent interest rate, may be paid either through monthly amortization or deduction from a member's existing life insurance policy contract. Emergency loan, on the other hand, aims to assist government employees and old-age and disability pensioners in times of natural calamities and disasters. The pension fund also released PHP175 million to 1,504 members through the GFAL Educational Loan program from 2021 to May 15, 2022. This program was GSIS's response to the call of the government for credit support to education in light of the economic effects of the pandemic. It is a study-now pay-later loan program intended for the college education of children or relatives of active GSIS members. The maximum amount that may be borrowed per academic year is PHP100,000 covering tuition and other school fees. The interest rate is only 8 percent. A GSIS member may nominate up to two student-beneficiaries under the program. Meanwhile, a total of 56,110 pensioners benefitted from the PHP4.6 billion released by GSIS from January 2021 to May 15, 2022 under the Enhanced Pension Loan. Another 7,903 pensioners were granted Pensioners' Emergency Loan from the total amount of P204 million paid by GSIS in the same period. Even inactive members were given the opportunity by GSIS to restructure their loans. Under the Program for Restructuring and Repayment of Debts (PRRD), GSIS released a total of PHP203 million to 1,498 inactive members. PRRD is a one-time condonation and restructuring program for inactive GSIS members with outstanding loans. GSIS members who are already out of government service and financially incapable to settle their outstanding loan balances in full may apply for PRRD. "We faced the struggles and embraced the challenges brought about by the pandemic, so we can provide the essential needs of our clients - convenience, protection, and safety. We encourage our members and pensioners to avail of GSIS loan programs to aid them in their various expenses. By doing so, they are also helping GSIS sustain its actuarial life and enable us to pay our members and pensioners their benefits as and when they fall due," Macasaet appealed. (PR) }

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Government Service Insurance System ,Laguna ,Philippines ,Aginhawa ,Mindoro Oriental ,Manila ,Rolando Ledesma Macasaet ,Program For Restructuring ,General Manager Rolando Ledesma Macasaet ,Computer Loan ,Assistance Loan ,Enhanced Pension ,Pensioner Emergency Loan ,Manila The Government Service Insurance System Gsis Has Releaseda Total Of Php221 Billion In Loans To 1 38 Million Active Members And Pensioners Nationwide From January 2021 May 15 ,022 Quot We Rolled Out Several Programs Under Our Ginhawa For All Benefit Bundles To Extend Financial Assistance Ata Time When Members And Pensioners Needed It Most Alam Namin Na Gsis Ang Inaasahang Mangalaga Sa Seguridad At Kapakanan Ng Mga Kawani Gobyerno Malaking Responsibilidad Ito Ay Bahagi Ating Tungkulin Know That Will Have Take Care The Security Welfare Of Government Employees This Big Responsibility Is Part Mandate ,Uot Gsis President And General Manager Rolando Ledesma Macasaet Said Ina News Release On Thursday Of The Total Amount Loans Granted ,Hp165 Billion Was In Multi Purpose Loan Mpl ,Hich Benefitted 468 ,872 Borrowers The Loan Aims To Help Active Members ,Articularly Those Who Have Reached Their Borrowing Limit And Unable To Pay Loans Mpl Consolidates Members 39 Existing Waives Surcharges On In Default Loan Accounts April 2022 ,Sis Launched The Enhanced Mpl Program By Coming Out With Plus Under ,Embers May Apply For Up To 14 Times Their Basic Monthly Salary ,Ut Not To Exceed Php5 Million ,Epending On Their Premium Payments The Loan Hasa Low Interest Rate Of 7 Percent And Its Term Has Been Extended To 10 Years Under Another Product ,He Computer Loan Program ,Sis Disbursed Php7 6 Billion In Gross Proceeds To 253 ,481 Borrowers It Isa Loan Window That Grantsa Php30 ,000 Assistance To Gsis Members For The Purchase Ofa Computer Unit Their Work From Home Arrangement Or Children 39s Online Classes Loan Is Payable In Three Years With 6 Percent Interest Per Annum This Year ,Sis Extended The Implementation Of Program For Another Three Months Or Until June 2022 To Give More Time 1 56 Million Qualified Members Avail Loan Gsis Also Processeda Total 64 ,381 Applications Under The Gsis Financial Assistance Loan Gfal Program From 2021 May 15 ,022 ,Isbursinga Total Amount Of Php27 8 Billion Gfal Isa Balance Transfer Facility Aimed At Enabling Gsis Members Settle Their Outstanding Loan With Other Lending Institutions Reduced Interest Rate And Longer Payment Term Through ,Sis Intends To Improve The Financial Capability Of Gsis Members And Save Them From Bondage Debt Aside Mpl ,Fal And Gfal Educational Loan ,Sis Also Offers The Regular Policy Loan And Emergency It Released Php8 8 Billion To 355 ,956 Policy Loan Borrowers And Another Php5 519 Billion To 165 ,352 Emergency Loan Borrowers From January 2021 To May 15 ,022 Policy Loan Isa Program Where Members May Avail Of From Their Gsis Life Insurance The ,Earing An 8 Percent Interest Rate ,Ay Be Paid Either Through Monthly Amortization Or Deduction Froma Member 39s Existing Life Insurance Policy Contract Emergency Loan ,N The Other Hand ,Ims To Assist Government Employees And Old Age Disability Pensioners In Times Of Natural Calamities Disasters The Pension Fund Also Released Php175 Million 1 ,504 Members Through The Gfal Educational Loan Program From 2021 To May 15 ,022 This Program Was Gsis 39s Response To The Call Of Government For Credit Support Education In Light Economic Effects Pandemic It Isa Study Now Pay Later Loan Intended College Children Or Relatives Active Members Maximum Amount That May Be Borrowed Per Academic Year Is Php100 ,000 Covering Tuition And Other School Fees The Interest Rate Is Only 8 Percenta Gsis Member May Nominate Up To Two Student Beneficiaries Under Program Meanwhile ,A Total Of 56 ,110 Pensioners Benefitted From The Php4 6 Billion Released By Gsis January 2021 To May 15 ,022 Under The Enhanced Pension Loan Another 7 ,903 Pensioners Were Granted 39 Emergency Loan From The Total Amount Of P204 Million Paid By Gsis In Same Period Even Inactive Members Given Opportunity To Restructure Their Loans Under Program For Restructuring And Repayment Debts Prrd ,Sis Releaseda Total Of Php203 Million To 1 ,498 Inactive Members Prrd Isa One Time Condonation And Restructuring Program For Gsis With Outstanding Loans Who Are Already Out Of Government Service Financially Incapable To Settle Their Loan Balances In Full May Apply Quot We Faced The Struggles Embraced Challenges Brought About By Pandemic ,O We Can Provide The Essential Needs Of Our Clients Convenience ,Protection ,Nd Safety We Encourage Our Members And Pensioners To Avail Of Gsis Loan Programs Aid Them In Their Various Expenses By Doing So ,Hey Are Also Helping Gsis Sustain Its Actuarial Life And Enable Us To Pay Our Members Pensioners Their Benefits As When They Fall Due ,Uot Macasaet Appealed Pr ,

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