CALAMITY AID. Pag-IBIG marketing specialist Delan John Llarena, GSIS manager Levi Olivar Jr. and SSS communications officer Jeanette Torallo-Mapa (left to right), are shown during the Talakayan sa Philippine Information Agency (PIA) in the city on Thursday (Jan. 23, 2020). The officials discussed their government calamity assistance programs offered to Bicolanos who were affected by Typhoon Tisoy last December. (Photo courtesy of Jeanette Mapa)
LEGAZPI CITY – Officials of the Social Security System (SSS), Government Service Insurance System (GSIS) and Home Development Mutual Fund (HDMF) or Pag-IBIG Fund discussed their respective calamity assistance programs that can be availed of by their members and pensioners in Bicol.
During the “Talakayan sa Philippine Information Agency (PIA)” on Thursday, Jeanette Torallo-Mapa, SSS-Legazpi communications officer, discussed the Calamity Assistance Package (CAP) offered to the victims of Typhoon Tisoy, which devastated Bicol region last December.
“The Calamity Loan and Advanced Three-Month Pension may be availed of from Dec. 20, 2019 to Mar. 19, 2020, and the House Repair and Improvement Loan from Dec. 20, 2019 to Dec. 19, 2020,” she said.
Mapa said members can also borrow up to PHP20,000 in calamity loan depending on the average of their monthly salary credit in the last 12 months.
It is payable in two years in equal monthly installments with an annual interest rate of 10 percent and a 1-percent penalty for late payments. To eliminate additional expenses on the part of member-borrowers, SSS waived the 1-percent service fee.
Applicants under the Advance Three-Month Pension whose present address differs from the address in the SSS database should submit a barangay certification to prove that they reside in a declared calamity area.
Aside from the Calamity Loan, members with damaged properties can also avail of the Direct House Repair and Improvement Loan with six months moratorium in amortization and interest payments.
Members can borrow up to a maximum of PHP1 million under this program which will run for one year.
To qualify, the applicant must not be more than 60 years old and with at least 24 monthly contributions, three of which were remitted within the last 12-month period prior to the month of filing.
Mapa added that the CAP is a loan assistance program that is separate from the regular salary loan.
Levi Olivar Jr., GSIS-Legazpi branch manager, also presented the emergency loan program offered by the agency.
“Members can borrow up to PHP20,000. The covered period of the loan is from December 27 to January 26, 2020," he added.
In order to qualify, a member must be a resident or working in the area that is declared under state of calamity, an active member or pensioner with updated premium for the last six months, with no pending case, and if there is an existing loan, he/she must have no due and demandable accounts.
Olivar added that for those who want to avail of the available assistance, they can visit the GSIS kiosk or apply over the counter.
He also cited the GSIS Financial Assistance Loan (GFAL) program with PHP500,000 loanable amount to help members in paying their dues from various lending institutions.
“To avail of GFAL, you must be an active member for at least 3 years. The deadline of application is until July 26, 2020,” he added.
For the HDMF, Delan John Llarena, Pag-IBIG-Legazpi marketing specialist, said eligible members may borrow up to 80 percent of their total savings with 5.95 percent interest rate per annum and payable in 2 years or 24 months.
The deadline for application is on Feb. 14, 2020, Llarena added.
Llarena also urged members to join the Modified Pag-IBIG II (MP2) Program, a savings scheme designed to provide members with another savings that would grant them a yield higher than that given under the Pag-IBIG I membership program.
The new program requires a minimum contribution of PHP 500 per month with a renewable term of five years and offers flexible dividend rates that are always higher.
“The minimum is PHP500 per month but you are not required to give a monthly contribution, members can give a one-time investment if they have fund in their banks, they can transfer half of their savings to MP2 for higher dividend which is also tax-free,” Llarena said.
MP2 members can collect their dividend annually or after five years, he added. (PNA)
