GSIS to advance release of pension for April

MANILA, Philippines — State-run Government Service Insurance System (GSIS) will release pension benefits for the month of April earlier than scheduled to provide assistance to members amid the coronavirus disease 2019 or COVID-19 pandemic.

In a statement, GSIS president and general manager Rolando Macasaet said government retirees would receive their pension earlier than April 8, when the funds are usually released.

“For our pensioners, they will receive their pension for April early. Usually, the pension comes on April 8, but we will release it before that date,” Macasaet said in a statement.

Furthermore, he said the state pension fund extended the deadline of payment for premiums and loans due this March. He said members and borrowers can pay until May 10 without penalties.

GSIS, likewise, moved the due date for housing loan payments and rental payment for investment properties this March to May 10.

Meanwhile, GSIS said active members and pensioners would soon be able to borrow P20,000 in emergency loans while the country is under a state of calamity due to COVID-19.The loan will carry an interest rate of six percent, payable in three years.

“GSIS will release emergency loans for our members and pensioners. We are just asking for more time because we are still fixing our system so we can activate the nationwide implementation of this program,” Macasaet said.

 At present, all GSIS offices nationwide are closed to the public until April 12. However, the state fund will continue to accept applications for conso-loan, policy loan and pension loan through the GSIS kiosks nationwide.