MANILA - The Government Service Insurance System (GSIS) said it is extending its Restructuring Program for Service Loans (RPSL) until May 19, 2025.

The program, which was launched in May 2023, is designed to assist delinquent borrowers, including former members, old-age pensioners, and reemployed members, by providing a one-time condonation of penalties and restructuring options for overdue service loans. The state-led pension fund said this initiative aims to help borrowers manage their financial obligations more effectively and regain financial stability.

"The GSIS restructuring and condonation program reflects our commitment to supporting members and pensioners in managing their finances. By offering flexible terms and condoning penalties, we are helping them get back on track," said GSIS President and General Manager Wick Veloso.

Eligible borrowers can apply for the program through various channels, including the GSIS Touch app, over-the-counter services at GSIS branches, M. Lhuillier, USSC, and online via UnionBank or Landbank apps. Applicants must submit a completed application form and provide a photocopy of their GSIS ID or other valid government-issued identification.

The RPSL covers a wide range of loans, including salary loans, emergency loans, educational loans, and more. Borrowers have the option to pay in full or through installment plans, with down payments ranging from 10 percent to 75  percent  to 6  percent.

GSIS encourages government employees to take advantage of the program and seek assistance from its customer service team, either online or at branches nationwide, to receive personalized support.