GSIS Has More Than 1.5M Members; NegOcc. 60,000

In Negros Occ. there are more than 60,000 GSIS members including pensioners.

During a recent briefing to Information Officers, Rosenie Chavez, GSIS Division Chief for Billing, Collection and Reconciliation said the insurance membership now total 1,569,912 nationwide. Old age pensioners account for 15 percent or 278,000 while survivorship pension make-up six percent or 122,000.

The more than 1.5 million active members make up 79 percent of the total members of the state run insurance.

During her lecture she said there are two kinds of members in GSIS-regular members and special.

Regular members are government employees receiving fixed monthly compensation while in the service of a government agency (their employer) by virtue of an appointment or election to public office and regardless of status of appointment.

Special members are those government employees who, based on the constitution or by virtue of a special law or charter, are covered under retirement schemes that are separate from the GSIS, funded by their own agency or by the National Treasury, and recognized by the Department of Budget and Management (DBM).

The following are not members of the insurance-contractual employees who have no employee-employer relationship with their agencies and uniformed personnel of Armed Forces of the Philippines (AFP), Philippine National Police (PNP), Bureau of Jail Management and Penology (BJMP) and Bureau of Fire Protection (BFP).

She pointed out that members are covered by Life Endowment Policy (LEP)- maturity or cash surrender value, permanent and total disability, accidental benefit, death benefit, annual dividend and policy loan.

The Enhanced life policy has similar benefits with LEP.

Chavez said Members may retire and choose from among the following scheme depending on their years of service and age: RA 660 or the Magic 87; RA 1616 or the Take; PD 1146 having Old Age Pension and Cash Payment; and RA 8291 or the GSIS act of 1997.

By 2022, she said GSIS aims to become a premier social insurance institution with a passion for providing excellent service to its members, pensioners, and other constituents, and will be in the top three defined-benefit pension fund institutions in the ASEAN region.

GSIS employees are guided with company core values such professionalism, love of country, integrity, service, excellence, spirituality, innovation and teamwork.*(PIA6)