The Government Service Insurance System (GSIS) has committed to providing financial assistance to members and pensioners in North Luzon who may experience adverse effects from super typhoon EgayPH.
In a statement on Wednesday, July 26, Wick Veloso, GSIS president and general manager, said the pension fund has earmarked P6 billion for emergency loans this year to support members and pensioners during times of crisis.Additionally, the following areas are under signal No. 3: Babuyan Island, the northern and eastern sections of mainland Cagayan, the northeastern part of Isabela, and the northern part of Apayao.
Last week, the GSIS also began offering emergency loans to 585 active members and 53 old-age and disability pensioners in Puerto Galera, Oriental Mindoro in response to the ongoing water crisis caused by El Niño. To qualify for the GSIS Emergency Loan Program, active members must be residing or working in the calamity areas.
Old-age and disability pensioners residing in the calamity areas may also avail of the loan provided their net monthly pension after availing the loan is at least 25 percent of their basic monthly pension.
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