Guide on GSIS Pension Loan Maximum Loanable Amounts Depending on Age of Pensioner
GSIS PENSION LOAN – Here is a list of the maximum loanable amounts under this loan offer based on pensioner-borrower’s age.
The Government Service Insurance System or more commonly called as GSIS is one of the state-run insurance institutions that offers pension to members.
GSIS members who have reached the age of 60 years old and the required total contribution may apply and avail the GSIS Retirement Benefit. There are several programs under this benefit offer.
Pensioners will receive an amount from the social insurance institution monthly after retirement. It is a right and not a privilege as clarified by GSIS recognizing the efforts of its members.
However, undeniably, there are cases or instances when the pensioner would fall short of his budget and the monthly pension alone cannot cope the expenses. This usually happens when there are medical emergencies.
The good thing about being a GSIS pensioner is that you may apply for the GSIS Pension Loan. It is open for pensioners under the following retirement programs:
- Republic Act 660
- Presidential Decree 1146
- Republic Act 8291
The maximum loanable amount under the GSIS Pension Loan depends on the age of the pensioner. Here is a list of the possible amounts that a pensioner may borrow:
- 60 to 64 years old
- The pensioner may borrow up to six (6) times of his or her Basic Monthly Pension (BMP) but not exceeding Php 100,000.00.
- 65 to 69 years old
- The pensioner may borrow up to four (4) times of his or her BMP but not exceeding Php 60,000.00.
- 70 years old and above
- The pensioner may borrow up to two (2) times of his or her BMP but limited to Php 20,000.00.
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