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
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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