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Latest News

GSIS opens emergency loan for 20K members, pensioners in 2 Mindanao areas

Date Posted: August 11, 2017
A total of 20,605 Government Service Insurance System (GSIS) active members and old-age pensioners in Bagumbayan, Sultan Kudarat and Maguindanao, who were affected by flashfloods due to heavy rains, may apply for emergency loan until August 23.

The 7,494 active members, who have no existing emergency loans, may apply for the Php20,000 loan, while the 11,609 members, who have not yet fully paid their previous emergency loan may borrow up to Php40,000. Their remaining balance will be deducted from the new loan proceeds.

To qualify, active members must be working or residing in the areas, are not on leave of absence without pay, have no arrears in paying premium contributions, and have no unpaid loans for more than six months. They should also have a minimum net take-home pay of Php4,000.00 after the monthly loan amortization has been deducted.

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Advisory

ADVISORY TO AAOs

To our Agency Authorized Officers/Partners:

Please be informed that the COA Chairperson Michael G. Aguinaldo has issued COA Memorandum no. 2017-015 dated August 8, 2017 re: Amendment to expand the coverage of COA Memorandum Circular No. 2016-007 dated March 7, 2016 …mandating the audit of the deductions made for GSIS Premiums and Loan Amortizations.

The COA auditors shall include in the Annual Audit Reports (AARs) of their respective auditee the related observations and recommendations, if any, so that the appropriate penal sanctions may be imposed upon the responsible officials and employees in case of violation of the pertinent provisions of R.A. 8291.

In view of the abovementioned COA Memorandum, we would like to remind our AAO partners of the following which forms part of the AAO Commitment Form you signed and submitted to GSIS:

The AAO shall:

1.

Undertake the following actions:

  a.

That the monthly amortization shall be deducted from the member-borrower’s monthly salary;

  b.

That in case the member-borrower is subsequently separated from the service, the agency shall make the final payment to him or her only after clearance is obtained from the GSIS; and

  c.

That the information supplied by the member-borrower is true and correct based on the records of the agency.

2.

Transmit electronically and promptly to the GSIS the membership updating request-forms prepared by our Human Resources (HR) personnel.

3.

Ensure that the agency is enrolled in the Electronic Billing and Collection System (eBCS) of the GSIS.

4.

Coordinate with the ERF Handlers on the following:

  a.

Timely deduction of the monthly amortization due on the loans certified or approved;

  b.

Changes in the membership records submitted to GSIS are duly reflected in the next generated remittance file; and

  c.

Reconciliation Billing Issues (RBIs) forwarded by the GSIS or the generated eBCS exception reports are addressed and the appropriate membership updating forms are prepared and transmitted to GSIS before the following month’s remittance.

5.

Monitor feedback from the GSIS Membership Coordinator and to submit any additional requirements promptly.

6.

Transmit to the officer or employee concerned the circulars and/or information dissemination materials, and requests for data or information forwarded by the GSIS through the AAO module or my email address.

For your information, guidance and compliance.

Thank you.