Aliwan Fiesta 2024
DZRH Logo
GSIS introduces restructuring loan program for pensioners
GSIS introduces restructuring loan program for pensioners
Nation
GSIS introduces restructuring loan program for pensioners
by DZRH News19 December 2023
Watch Video

The Government Service Insurance System (GSIS) introduced on Tuesday, Dec. 19, the agency’s restructuring loan program — Choice of loan amortization schedule for pensioners (CLASP) — for pensioners who have a huge amount of debt before their retirement.

“Ang CLASP ay programa ng GSIS na naglalayong tulungan ang aming mga miyembro na may malaking utang sa GSIS pero magre-retire na at kailangan namang may baon sa retirement [...] ngayon, may CLASP na,” President and General Manager Jose Arnulfo “Wick” Veloso said in the latest episode of GSIS Ginhawa For All.

“Sa pamamagitan ng loan restructuring program na ito, hindi agarang ibabawas sa pension at iba pang benefit ang utang ng miymbro kapag nagre-retire siya. Pwedeng bayaran ang utang nang hulugan para may matitira pa sa pension at claim proceeds niya,” he added.

According to Veloso, pensioners have four options for settling the payment.

“Pwede niyang bayaran nang buo ang kanyang utang. Ibabawa ito mula sa makukuha niyang retirement benefit. Pangalawa, kung hindi niya babayaran nang buo, papasok ang CLASP. Pwedeng 75 percent ng kanyang utang ang ibabawas sa kanyang retirement benefit habang ang natitirang 25 percent ay ibabawas sa kanyang monthly pension,” he said.

“Pwede rin namang 50 percent ng kanyang utang ang ibabawas at ang matitira ay ibabawas sa kanyang monthly pension. Pwedeng 25 percent ng kanyang utang ang ibabawas tapos ang matitirang 75 percent ay ibabawas sa kaniyang monthly pension,” he added.

The GSIS chief said they offer CLASP for those who wants to retire under a retirement scheme with immediate pension benefit.

“Ino-offer ang CLASP para sa mga nais mag-retire sa ilalim ng retirement scheme na may immediate pension benefit. Sa ilalim ng CLASP, lahat ng loan obligations ng isang magre-retire na GSIS member ay pwedeng maisama sa restructuring. Ang hindi lamang kasama ay ang housing loan. May iba kasing collection scheme para dun,” he said.

When asked what would happen if the pensioner died, Veloso assured that they have a loan redemption insurance for them.

“May loan redemption insurance ang CLASP kaya magiging fully paid ang utang kung mamatay ang pensioner habang siya’y nagbabayad pa ng utang,” he said.

The GSIS chief also explained the interest rate and monthly amortization under CLASP.

“Ang interest rate para sa maiiwanang loan balance na hulugan every month ay 10 percent per annum computed in advance,” he said.

“Naka-depende po yan sa naiwang loan balance at payment term kung magkano ang ibabawas sa monthly pension. Kasama na rin sa monthly amortization ang bayad para sa loan redemption insurance,” he added.

Meanwhile, those who wish to avail the restructuring loan program of the state pension fund, Veloso said they only need one requirement.

“Para sa mga nais mag-apply sa CLASP, ang requirement lang ay ang application form for retirement benefit kasi nakalagay sa form ang option para maga-apply sa CLASP. Isa-submit lamang ang form na ito sa pinakamalapit na GSIS branch kapag magre-retire na sila,” he said.

Share
Related Topics
listen Live
DZRH News Live Streaming
Home
categories
RHTV Link
Latest
Most Read