Gfal Ii Memorandum Of Agreement

At its regular meeting on November 18, Pangasinan Provincial Council adopted Provincial Resolution 299-2019 to authorize Governor Espino to reach an agreement with GSIS on behalf of Pangasinan Province. PASAY CITY, August 14 — The Government Service Insurance System (GSIS) public pension fund has developed a Memorandum of Understanding (MOA) with the local government of General Mariano Alvarez (GMA) in Cavite for the implementation of the GSIS Financial Assistance Loan (GFAL) program for GMA employees. GMA Mayor Walter Echevarria Jr. and GSIS EsS National Capital Region I, NCR Area 1 signed the GFAL MOA at GMA Municipal Hall. However, employees may make use of the GFAL provided that “the borrower`s net acceptance is subject to the minimum net redemption allowance set by the General Acquisitions Act,” which is no less than P5,000.00. (ABMande) The program was initially offered to teachers and non-pedagogical staff of the Ministry of Education (DepEd) and was extended to other GSIS members from 29 July 2019. A borrower whose case is pending is still entitled to ask GFAL if the case was filed by a lender for default as a result of the prioritization of wage deductions. This high-end loan could help eligible DRMC employees prepare their funds to meet their other needs. Instead of using private lenders for a new loan, qualified members are advised to optimize their GFAL and enjoy the benefits of lower interest rates and longer payment terms. We can learn that GFAL was originally proposed by teachers and non-teachers of the Ministry of Education. “There is an urgent need to address the alienation of government employees from private lenders and to promote the well-being of government employees, considering that, if left, there will be nothing left of the pension or separation benefits of the staff concerned, as these benefits could be treated as a payment to their unpaid credit obligations to the GSIS.” said Mayor Napulan. After Mayor Macario N.

Napulan, MD and Director of GSIS, Marciana M. Bata, officially signed the Memorandum of Understanding to make the GSIS GFAL available to municipal staff. GFAL proposes, through GSIS, the refinancing of staff loans from private credit institutions. The resolution, drafted by Angel M. Baniqued Jr. and Nestor D. Reyes, members of Sangguniang Panlalawigan, states that GFAL II is a GSIS loan refinancing program to settle loan commitments of qualified GSIS members with credit institutions (including government banks, government and private cooperatives).