State pension fund Government Service Insurance System is ready to provide members and pensioners emergency loans up to P40,000 to those who will be affected by tropical storm "Paeng."

On Friday, GSIS president and general manager Wick Veloso announced the loan provision, heeding the appeal of President Ferdinand Marcos Jr. for government agencies to ensure that help is extended to those hit by calamities.

This came as tropical storm "Paeng" is forecasted to intensify into a typhoon this Saturday, based on the 11 am forecast of PAG-ASA.

"As of 23 October this year, GSIS has already released a total of P4.5 billion that provided financial assistance to almost 145,000 GSIS active members and pensioners," Veloso said.

Further, he said GSIS has allocated another P1.5 billion in emergency loans for members and pensioners in 15 North Luzon areas hit by recent calamities.

"We hope to alleviate the plight of over 69,000 GSIS members and pensioners working or residing in the calamity-declared areas in the North due to the 7.3 magnitude earthquake in July, typhoon "Karding" in September, flash floods, and dengue outbreak," Veloso added.

Flooding affects Pampanga

The emergency loan is open to active members, and old-age and disability pensioners in Masantol, Pampanga who were affected by massive flooding; in the province of Occidental Mindoro due to the dengue outbreak; and in Vigan City and the municipalities of Bauko and Besao in Mountain Province affected by the 7.3 magnitude earthquake in July.

The loan is also open to typhoon "Karding"-affected members and pensioners in the province of Nueva Ecija and municipalities of Polillo, Patnanungan, Panukulan, Jomalig, Burdeos, and General Nakar in Quezon; La Paz in Tarlac; Macabebe in Pampanga, and Dingalan, Aurora.

Qualified to apply are members who are in active service and not on leave of absence without pay; have at least three months of paid premiums within the last six months; have no pending
administrative or criminal case, and have a net take-home pay of not lower than P5,000 after all required monthly obligations have been deducted.