THE Government Service Insurance System (GSIS) said that they had earmarked P44 million worth of emergency loans that will serve as an aid to their members and pensioners in the municipalities of Mercedes and Vinzons in Camarines Norte.

They said incident was due to heavy rainfall being experienced in the said area.

In a statement issued by the GSIS, they noted that their members both living or working in the said calamity-hit areas are eligible for the loan. 

The pension fund also noted that they simply have to make sure that they paid their premiums within the last six months prior to application and not be on leave of absence without pay. 

The members are also required to have no pending administrative or criminal case.

They also should have a net take-home pay of at least P5,000 after all the required monthly obligations have been deducted.

Meanwhile, the old-age and disability pensioners residing in the calamity areas, the GSIS also said that they may avail the emergency loan as long as their resulting net monthly pension after loan availment is at least 25% of their basic monthly pension.

They should likewise have no outstanding loan being deducted from their monthly pension except pension loan.