GSIS increases pension loan limit to 500K, removes age cap

Home Media Center GSIS increases pension loan limit to 500K, removes age cap
Date Posted: February 1, 2021

State pension fund Government Service Insurance System (GSIS) enhanced its pension loan program by increasing the maximum loanable amount to six times the monthly pension, up to a maximum loan of P500,000, regardless of the pensioner’s age.

“Previously, only old-age pensioners who are 64 years old and below may avail of the maximum amount equivalent to six times their monthly pension. Pero dahil gusto naming mabigyan ng ginhawa ang lahat ng old-age pensioners sa gitna ng pandemyang apektado ang lahat, pwede nang makahiram ang lahat ng old-age pensioner ng maximum amount kahit 65 years old o higit pa sila. Itinaas na rin namin ang credit limit mula sa Php100,000 hanggang Php500,000 sa ilalim ng Enhanced Pension Loan, “ GSIS President and General Manager Rolando Ledesma Macasaet said.

Old age pensioners may now avail of the Enhanced Pension Loan. Qualified are old-age pensioners who are receiving their pension for at least a month. Not qualified to the program are those who have service loan being amortized under the Choice of Loan Amortization Schedule for Pensioners or GSIS Program for Restructuring and Repayment of Debts at the time of application; and those who have existing pension loan that have not yet been fully paid. The applicant must also have at least 25% resulting net monthly pension after loan deduction.

The Enhanced Pension Loan is payable in 24 equal monthly installments through automatic pension deduction. The interest of the loan is 10%.

For their safety, qualified pensioners are encouraged to apply online via the Electronic GSIS Member Online (eGSISMO) or by emailing the requirements to their designated branch office (see link: They must submit a properly accomplished form and photo holding their electronic card (eCard) or unified multipurpose identification (UMID) card (or any two government-issued IDs with their photo and signature) and a newspaper bearing the same date of their application. If the newspaper is not available, they may have their photo taken beside a television where the latest date or news item is flashed on the screen).

They may also opt to apply over-the-counter at any GSIS branch office nationwide. A properly accomplished application form must be submitted and their pensioner’s eCard or UMID card must be presented (or any two government-issued IDs with their photo and signature). Application via the GSIS Wireless Automated Processing System (GWAPS) kiosk is initially available in GWAPS kiosks located at the GSIS Head Office in Pasay City. Availability in other GWAPS kiosk will be announced in the coming weeks.

Loan proceeds will be ecredited to the pensioners eCard or UMID card.

For more details, interested parties may visit the GSIS website,, or the GSIS Facebook Page,; or call the GSIS Contact Center at 8847-4747 (if in Metro Manila) or 1-800-8-847-4747 (for Globe and TM subscribers) and 1-800-10-847-4747 (for Smart, Sun, and Talk ‘N Text subscribers).