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The program to restructure GSIS loans expires on June 30

The Program for Restructuring and Repayment of Debts (PRRD) Program application deadline is June 30, the Government Service Insurance System (GSIS) reminded members with unpaid loads.

The PRRD will spare them from legal issues and other repercussions, according to Deity Manampan, GSIS Vice President for Vis-Min Operations Group.

“We’ll give them a second chance to pay off the debt, especially those who still owe money after they turn 60 and have receivables, as opposed to those who disregarded their loan accounts previously. It will be a waste, sayang naman “Manampan stated at the Laging Handa public briefing on Friday.

They won’t get their pension; it will be given up to cover loan obligations.

“Now is your chance, so seize it. We are waiving the fines and surcharges, but you must submit an official application to GSIS, which is where you must do so “explained Manampan.

The PRRD form, which can be acquired from the GSIS website or obtained from any GSIS office, should be submitted with the application together with two valid identification cards.

Under GSIS’s “Ginhawa (Convenience) for All” program, the PRRD is a one-time condonation and restructuring program that includes, among other things, salary loans, cash advances, consolidated loans, emergency loans, loans for educational help, and loans for policies.

The payment may be deducted from the pension if the borrower is a retiree who will receive the pension at age 60 or after five years.

If the legal spouse repays the loan, it will be taken out of their survivorship pension or paid at one of the almost 3,000 Bayad Center partner locations around the country.

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