GSIS opens loan restructuring, condonation for delinquent borrowers

State pension fund Government Service Insurance System (GSIS) has launched a condonation and restructuring program anew with longer and affordable payment terms to benefit former members, old-age pensioners, re-employed members, and other borrowers with overdue loans.

Dubbed the Restructuring Program for Service Loans (RPSL), it is a one-time condonation and restructuring program aimed at providing delinquent borrowers a more flexible and lighter option to pay their due and demandable service loans as well as their penalties and surcharges. The program also aims to improve the pension fund’s loan collection efficiency.

“GSIS hopes to address the clamor of our members and pensioners who would like to settle their obligations in full or in part through flexible means,” GSIS President and General Manager Wick Veloso said.

Borrowers may apply for RPSL over-the-counter at any GSIS office. They must submit a duly accomplished RPSL application form along with a clear photocopy of Phil ID, GSIS eCard, valid passport, or any two valid government-issued IDs.

The RPSL program covers various service loans, which include the GSIS Salary Loan; Enhanced Salary Loan; Restructured Salary Loan; Emergency Loan Assistance; Summer One-Month Salary Loan; Member’s Cash Advance; eCard Plus Cash Advance; Consolidated Loan; Enhanced Conso-Loan; Emergency Loan; Home Emergency Loan Program; Study Now, Pay Later; Fly PAL, Pay Later; Educational Assistance Loan; Stock Purchase Loan; Policy Loan; Optional Policy Loan; GSIS Financial Assistance Loan; Program for Restructuring and Repayment of Debts; Multi-Purpose Loan; Computer Loan; and other future loans.

Excluded from RPSL are the GSIS Real Estate Loan; Deed of Conditional Sale; Restructured Real Estate Loan; Pension Loan; Pension Emergency Loan; and Pensioner’s Restructured Loan.

“We urge our members and pensioners to avail of RPSL to enjoy an affordable 3%-6% interest rate. By paying a down payment of at least 10% of their outstanding balance, they can now pay the remaining balance on a five-year installment basis at a max of 6% interest per annum only.” Veloso stressed.

RPSL availees may settle their loans by paying over the counter in cash or manager’s check at the nearest GSIS office. Meanwhile, re-employed members may have their payment shifted to payroll deduction; old-age pensioners, through old-age pension deduction.

“By strengthening our loan collection efficiency, we are also protecting the financial health of the pension fund so that members may avail of benefit and services when they fall due,” the pension fund chief said.

For more information, interested parties may visit the GSIS website ( or GSIS Facebook page (, email, or call the GSIS Contact Center at 8847-4747 (if in Metro Manila), 1-800-8-847-4747 (for Globe and TM subscribers), or 1-800-10-847-4747 (for Smart, Sun, and Talk ‘N’ Text subscribers).