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State workers' pension fund Government Service Insurance System has allocated a total of P1.5-billion in emergency loans to aid members and pensioners in various provinces in Eastern Visayas which were declared calamity areas due to the increasing number of dengue cases.In a statement on Friday, GSIS said the emergency loan program would benefit 34,739 members and pensioners in Eastern Visayas .
"Their net take-home pay must not be less than P5,000 as stipulated by the General Appropriations Act," it added.For old-age and disability pensioners, they must have at least 25% remaining from their pension after deductions for loan amortization to qualify."Members and pensioners with an existing emergency loan balance may borrow up to P40,000 to settle their previous loans, with a maximum net amount of P20,000," the pension fund.
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