P4.1 Billion GSIS Loans Released To Government Workers & Pensioners

GSIS Loans Amounting To P4.1 Billion in Total Released to Pensioners and Government Workers

GSIS LOANS – The Government Service Insurance System released P4.1 billion in loans to government workers and pensioners.

Many people are currently facing financial struggles amid the coronavirus or COVID-19 outbreak in the Philippines. Undeniably, several employees in the country are working under a no-work-no-pay employment scheme.

In line with the temporarily stopping of the operations of non-essential businesses, many people have no income now. Sadly, the monthly expenses continue and gives headache to the people.

Meanwhile, the national government provided cash aid to the poor families amid the COVID-19 crisis. It is through the Social Amelioration Program (SAP).

Several government agencies also launched offers to assist the people. The Government Service Insurance System (GSIS) got loan offers for its members including the pensioners.

Based on the recent update from the government agency, it has released P4.1 billion through GSIS loans to government employees and pensioners. According to the agency’s president, Rolando Ledesma, some 60,000 workers were granted loans.

The GSIS released P3.48 billion through conso-loan, pension loan, and policy loan between March 27 to April 30. A total of 25,198 members and pensioners received the cash.

Last April 13, up to 2.1 million members of the social insurance institution were granted emergency loans. Macasaet expressed his gratitude to the Board of Trustees for the fast approval of the loan program.

Amid the COVID-19 crisis in the Philippines, the government agency also offers moratorium on pending loans with them. It is in line with the “Bayanihan To Heal As One” Act.

READ ALSO: GSIS LOANS – GSIS Offers Moratorium On Loan Payments Amid COVID-19 Crisis

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