GSIS extends loan moratorium for Pablo victims

ABS-CBN News

Posted at Dec 12 2012 12:25 PM | Updated as of Dec 13 2012 01:06 AM

MANILA, Philippines - Government Service Insurance System (GSIS) members in Compostela Valley, Davao Oriental and Surigao del Sur who were affected by typhoon Pablo may ask to be included in the state pension fund's loan moratorium program.

"Members, pensioners and retirees who are still recovering from the adverse effects of ‘Pablo’ such as death of a family member, damage to residence and property, loss of livelihood and source of income, may avail of the extended moratorium program," GSIS said in a statement.

The loan moratorium program covers housing loans, consolidated loans, policy loans and eCash advances, GSIS said.

Members wanting to avail of the program should have loan accounts with no record of unpaid amortization for more than six months as of December 31, 2012, the state pension fund added.

Last week, GSIS said it will grant emergency loans to more than 345,000 members in Visayas and Mindanao affected by typhoon Pablo.

As of Tuesday, the typhoon has already taken 740 lives, while 890 remain missing, the National Disaster Risk Reduction and Management Council said.