GSIS to extend assistance to members, pensioners affected by Davao quakes

The Government Service Insurance System (GSIS) assured on Tuesday, 14 October, that it is ready to extend financial assistance to active members and old-age or disability pensioners in Davao Oriental following the twin earthquakes that struck the province and nearby areas.

GSIS President and General Manager Wick Veloso said the state insurer is closely monitoring the situation in Davao and stands ready to provide immediate financial assistance to its members and pensioners to help them recover from the effects of the tremors.

Under the GSIS Emergency Loan Program, qualified members and pensioners residing or working in affected areas may borrow up to P40,000 if they have an existing emergency loan, or up to P20,000 if they have none.

The loan is payable in 36 months at six percent annual interest, with the first payment due after three months.

Members may apply via the GSIS Touch mobile app, GWAPS kiosks, or over the counter, with proceeds credited directly to their GSIS ATM cards.

Veloso said GSIS is also coordinating with local government units to assess insured government properties that may have sustained damage, ensuring the prompt processing of insurance claims and the immediate restoration of public services.

As of 12 October, GSIS has released more than P346 million in emergency loans to over 12,000 members and pensioners in Cebu following a strong earthquake.

“Just as we did in Cebu, GSIS will ensure that our members and pensioners in Davao receive the support they need to recover quickly. Our priority is to bring relief and security, especially in times of calamity,” Veloso said.

He added that GSIS will also open its emergency loan window in other earthquake-hit areas once these have been placed under a state of calamity.

Three large-magnitude tremors rocked various parts of the Philippines in 11 days.

Bogo City, Cebu, was hit by a 6.9-magnitude earthquake on 30 Sept. The quake killed 75 people and injured 559 individuals. Aftershocks from the quake also hit nearly 12,000.

Meanwhile, twin quakes also jolted Mindanao on 10 October. A 7.4-magnitude offshore quake hit Manay, Davao Oriental, in the morning, while a 6.9-magnitude temblor also rocked the town in the evening. The reported death toll in the earthquake is eight.