association of government accountants of the philippines
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Association of Government Accountants of the Philippines. Waterfront Hotel, Cebu 26 October 2012. Topic: “New GSIS Policies, What Members Need to Know”. Specific initiatives launched to be …. more consultative. more transparent. more member-focused. Maaasahan ng Lingkod - Bayan. - PowerPoint PPT PresentationTRANSCRIPT
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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
Maaasahan ngLingkod - Bayan
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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
Maaasahan ngLingkod - Bayan
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6. Ended Global Investment Program
Maaasahan ngLingkod - Bayan
• 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
Maaasahan ngLingkod - Bayan
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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
Maaasahan ngLingkod - Bayan
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PENSION benefits are not privileges…
They are yoursBY RIGHT!
Maaasahan ngLingkod - Bayan
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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
Maaasahan ngLingkod - Bayan
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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
Maaasahan ngLingkod - Bayan
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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
Maaasahan ngLingkod - Bayan
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12. Rationalized home lending program
• Php5-B for home lending to GSIS members through Pag-IBIG Fund
Maaasahan ngLingkod - Bayan
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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
Maaasahan ngLingkod - Bayan
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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
Maaasahan ngLingkod - Bayan
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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
Maaasahan ngLingkod - Bayan
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
Maaasahan ngLingkod - Bayan
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
Maaasahan ngLingkod - Bayan
9. Increase of funeral benefit from 20 K to 30 K
10. No prescription of claims
FUTURE DIRECTIONS
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Thank you!
Maaasahan ngLingkod - Bayan