Association of Government Accountants of the

PhilippinesWaterfront Hotel, Cebu

26 October 2012

Topic: “New GSIS Policies, What Members Need to Know”

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Specific initiatives launched to be …

more consultative

more transparent

more member-focused

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• GSIS expands service reach with LANDBANK’s 1,000 ATMs

nationwide

1. Renewed partnership with LANDBANK

Launch of GSIS-LBP partnership in Batangas, February 2011

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2. Deployed more GWAPS kiosks

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3. Enhanced Emergency Loan program

• Waived 1% service fee

• Reduced interest rate from 8% to 6%

• Extended grace period for first payment to 3 months

Members flocked to GSIS to apply for EL

• Additional allocation of Php10B

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4. Revoked the ARAS

• Pensioners no longer required to visit GSIS for status renewal

* except those living in ARMM, abroad

• NSO to determine pensioners’ status

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5. Revised Survivorship Policy

• Surviving spouses of members and pensioners can receive pension even if gainfully employed and receiving other income/pension

• Retroactive application

• No four-year prescription if survivors filed for funeral or death benefit

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6. Ended Global Investment Program

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• Winded down GIP for increased support to local financial market

• More attractive to invest in the local market

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7. Improved pension program

• Pensioners to receive minimum pension of Php 5,000 beginning January 2013

• Pension loan with insurance

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8. Improved pension program

• Retirees’ pension computed proportionately from day of retirement or 5 years for those who retired with 5-year lump sum benefit

• Retroactive from September 2009

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PENSION benefits are not privileges…

They are yoursBY RIGHT!

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9. From CLIP to CLASP (Choice of Loan Amortization Schedule for Pensioners)

•Empowers retirees on how to settle outstanding obligations, in whole or in part

• No more forced deduction of housing loan from retirement benefits

• Separate collection facility for housing loan

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Holding of pre-retirement counseling seminars

• Held monthly at GSIS central and field offices

• Discuss various retirement modes; how-to’s on computing retirement claims

• Help choose the most beneficial retirement option suited to your lifestyle

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• 300 scholarship slots (additional 100 slots for SY 2012-2013 as part of GSIS’ s 75th anniversary celebration)

• Scholars chosen based on member’s salary grade (not through raffle)

• Scholars get up to 20K in tuition and 2K in monthly allowance

10. Revised Scholarship Program to benefit children of low-income workers

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• Php4,000, payable in 60 months (P20 monthly installment)

• No take home pay, AAO approval requirements

• Until end of December 2012

11. Educational Loan Assistance Program

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12. Rationalized home lending program

• Php5-B for home lending to GSIS members through Pag-IBIG Fund

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13. Posting and reconciliation of accounts

• Work closely with technology partners for quick resolution of this long-standing concern

• All resources deployed to address backlog– multiple task forces, 24/7 operations

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14. Updating of accounts (DepEd, DBM, GSIS MOA Signing)

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GSIS signs MOAs with suspended LGUS and agencies to settle past due accounts and restore privileges of members

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Proposed GSIS Amendments to RA 8291 (GSIS Act of 1997)

1. Inclusion of parents, legitimate and adopted children of unmarried members

2. Designation of beneficiary by single members before age 50

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3. Removal of remarriage and co-habitation as basis for cancellation of survivorship benefits

FUTURE DIRECTIONS

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Proposed GSIS Amendments to RA 8291 (GSIS Act of 1997)

4. Provision on Members’ Rights

6. Special rights for the elderly, disabled and seriously- ill members, beneficiaries and pensioners

7. Increase in Temporary Total Disability Benefit

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5. Option to continue membership beyond mandatory age of 65

FUTURE DIRECTIONS

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Proposed GSIS Amendments to RA 8291 (GSIS Act of 1997)

8. Option of the member to claim his/her separation benefit even before reaching the age of 60

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9. Increase of funeral benefit from 20 K to 30 K

10. No prescription of claims

FUTURE DIRECTIONS

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Thank you!

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