State pension fund Government Service Insurance System (GSIS) said its Consolidated Loan (ConsoLoan) program, a loan window that consolidates five different loan packages into one, provided the country with a much needed economic stimulus last year.
Figures showed GSIS disbursed P43.98 billion in ConsoLoan proceeds in 2009, a growth of 26.74 percent from P34.70 billion disbursed for the entire 2008.
The ConsoLoan program provides GSIS members with an alternative source of funds at a time of a credit crunch.
“We understand the stringent requirements that banks have put up on loan applications to protect their investments. We also understand that many turn to loan sharks in times of financial distress. Through our ConsoLoan, we are able to help GSIS members get financial assistance easily and at flexible terms,” GSIS president and general manager Winston Garcia said.
The ConsoLoan is a consolidation of the Salary Loan, Restructured Salary Loan, Enhanced Salary Loan, Emergency Loan Assistance, and Summer One-Month Salary Loan thus, making them easier to manage. The outstanding penalties or surcharges incurred from these five loans are also waived when availing of this loan.
Furthermore, the ConsoLoan, which has a repayment period of up to six years, gives members higher loanable amount. Members who passed all requirements and have at least 20 months of creditable service can avail of a loan equivalent to three months of their monthly salary subject to the premium-based policy of the GSIS.
For members who have been in government service for at least 10 years, they can avail of a ConsoLoan equivalent to 10 months of their monthly salary.
To qualify for the ConsoLoan, the applicant should be an active member with no pending administrative case.
Active members are defined as members who are still in the service and have paid and remitted at least three monthly premium contributions for both Personal Share and Government Share within the last six months prior to the application of the GSIS ConsoLoan. –Daily Tribune
World Day for Safety and Health at Work
“Safety and health at work every day!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
