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
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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