The Government Service Insurance System (GSIS) on Thursday, Dec. 14, said availing its Restructuring Program for Service Loans (RPSL) program would help pensioners and inactive members condone their penalties and surcharges.

“Ang RPSL ay isang condonation and restructuring program para sa mga inactive members o mga dating miyembro na umalis na sa serbisyo na may naiwang utang sa GSIS," President and General Manager Jose Arnulfo “Wick” Veloso said in the latest episode of GSIS Ginhawa For All.

Old age pensioners o nag-avail ng restructuring program ng GSIS pero hindi nakabayad at members na umalis pero bumalik ulit sa serbisyo at may naiwang utang sa GSIS na mahigit anim na buwan,” he added.

Veloso noted the advantages of availing RPSL, particularly how it halts the running interest, penalties

“Kapag nag-avail ng RPSL ay agarang mahihinto ang pagtakbo ng interest, penalties, and surcharges sa naiwang utang. Mako-condone o matatanggal ang penalties at surcharges in effect mas mababa ang babayarang outstanding GSIS loan balance. Maa-update pati ang loan redemption insurance coverage dahil deemed paid na ang utang kapag may di inaasahang pangyayari sa borrower at updated ang kanyang loan obligation,” he said.

The GSIS chief noted that RPSL also offers a flexible installment depending on a borrower’s financial capacity.

“May flexible at magaan na installment plan na pwedeng pagpilian para sa mga restructured o natitirang balanse ayon sa pinansyal na kapasidad ng borrower. May mas mahabang payment period na limang taon para mas abot-kaya ang buwanang hulog. Mapapanatili ang credit worthiness bilang mangungutang at maiiwasan ang legal na aksyon na maaaring gawin ng GSIS dahil sa hindi nababayarang utang,” he added.

According to Veloso, RPSL waives penalties and surcharges depending on the following:

• For inactive members and old age pensioners, penalties at surcharges will be condoned from the date they left the government until the day they availed of RPSL

• For borrowers of the former condonation program, penalties at surcharges will be condoned from the date of default (or six months after non-payment of condoned loan) until the day they avail of RPSL.

• For reemployed members, penalties at surcharges will be condoned from the date they left the government until their return to service to the date they availed RPSL.

“Sa madaling salita, lahat ng penalties and surcharges ng eligible loans ay tatanggalin mula sa qualified mag-avail nitong RPSL,” Veloso said.