The Government Service Insurance System (GSIS) is ready to provide financial aid to government workers and pensioners in Davao Oriental and nearby provinces following the twin earthquakes that struck the region last week.
GSIS President and General Manager Wick Veloso said the pension fund would activate its emergency loan program for members and pensioners.
“We are closely monitoring the situation in Davao and stand ready to provide immediate financial assistance to help our members and pensioners recover from the effects of the earthquakes,” Veloso said in a news release Tuesday.
Under the loan program, qualified members and pensioners residing or working in affected areas may borrow up to PHP40,000 if they have an existing emergency loan, or up to PHP20,000 if they have none.
The loan is payable in 36 months at 6 percent annual interest, with the first payment due after three months.
Veloso said GSIS continues to process emergency loan applications promptly through its digital channels.
Members may apply via the GSIS Touch mobile app, GWAPS kiosks, or over the counter, with proceeds credited directly to their GSIS ATM cards.
The state pension fund is also coordinating with local government units to assess insured government properties that may have sustained damage, ensuring the prompt processing of insurance claims and the immediate restoration of public services.
As of Oct. 12, GSIS has released more than PHP346 million in emergency loans to over 12,000 members and pensioners in Cebu following a recent earthquake.
“Just as we did in Cebu, GSIS will ensure that our members and pensioners in Davao receive the support they need to recover quickly. Our priority is to bring relief and security, especially in times of calamity,” Veloso added.
GSIS said it would also open its emergency loan window in other earthquake-hit areas once these are placed under a state of calamity. (PNA)
