GSIS condonation program for inactive members extended until June
May 11, 2022 - Wednesday 9:05 PM by GDM
The Government Service Insurance System (GSIS) announced extending its condonation program for its former members until June 30.
“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 programang ito,” said GSIS President and General Manager Rolando Ledesma Macasaet said.
“Dito ay tatanggalin namin ang penalties sa kanilang mga naiwang loan noong sila ay umalis sa serbisyo,” he added.
The state pension fund introduced the Program for Restructuring and Repayment of Debts (PRRD), a one-time condonation and restructuring program under GSIS’s Ginhawa for All program, to help members who are already out of the service to settle their outstanding loan obligations in full or in part.
The program covers various service loans, including salary loans; cash advance; consolidated loans; emergency loans; educational assistance loans; policy loans.
“We encourage our inactive GSIS members to apply for PRRD, which gives them the option to pay their loan balances on a three-year installment basis at 10% interest per annum only,” Macasaet said.
PRRD availees may settle their loans by paying directly in GSIS offices or through BAYAD centers. If the borrower is a retiree who will receive the pension at age 60 or after five years, the payment may be deducted from his or her pension.
If the loan will be settled by the legal spouse, he or she may have it deducted from his or her GSIS survivorship pension or pay through the almost 3,000 Bayad partner outlets nationwide.
“We are intensifying our efforts to recover and collect outstanding loan accounts through the program. Bahagi ito ng patuloy na pangangalaga namin sa pondo ng GSIS para masigurong hindi maaantala ang pagtanggap ng miyembro sa kanilang benepisyo " Macasaet said.
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