GSIS extends condonation program for inactive members until June

State pension fund Government Service Insurance System (GSIS) is extending the condonation program for its former members until June 30. Dubbed Program for Restructuring and Repayment of Debts (PRRD), it is a one-time condonation and restructuring program under GSIS’s Ginhawa for All program. It was launched to help members who are already out of the service to settle their outstanding loan obligations in full or in part. “Pinalawig natin hanggang Hunyo 2022 ang PRRD para makapagbigay ng ginhawa sa mas marami pang inactive members na gustong mag-apply ng condonation o ipagpatuloy ang kanilang pagbabayad ng kanilang loans sa ilalim ng...

GSIS members reminded on ill effects of unpaid loans

Date Posted: Nov. 25, 2019 State pension fund Government Service Insurance System (GSIS) has urged its members to ensure religious and accurate loan repayment in order avoid negative consequences on their social insurance benefits. “We are reminding our member-borrowers to pay the correct loan amortizations on time. This will preserve their future benefits, which they have earned and should enjoy for devoting their prime in government service,” GSIS Chairman and Acting President and General Manager (APGM) Rolando Ledesma Macasaet said. He added that if left unpaid, loans incur interests and penalties. When the obligation is deducted from their retirement or...

GSIS offers restructuring program for members with educational loan

Date Posted: July 21, 2017 To provide loan payment relief for its members, the Government Service Insurance System (GSIS) is offering a restructuring program for around 500,000 members who have outstanding balance under the Educational Assistance Loan (EAL). Under the second phase of the program, members may renew their educational loan and obtain a P10,000 gross amount from which the outstanding balance of the first loan will be deducted. GSIS has earmarked a total of Php6.33 billion for the restructuring facility, dubbed Educational Assistance Loan II, which is open until December 31 this year. Active members may apply if they...

GSIS reminds borrowers of Dec. 29 deadline for housing loan restructuring

Date Posted: December 23, 2014 President and General Manager (PGM) Robert G. Vergara of the Government Service Insurance System (GSIS) announced that qualified housing loan borrowers may still avail of its housing loan remedial and restructuring program by setting an appointment until 29 December 2014. Borrowers with current or up-to-date accounts, those whose deeds of conditional sale were cancelled but not yet sold, and those whose accounts are under foreclosure proceedings may apply for loan restructuring.

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