House Lawmaker Pushes for GSIS Pension Eligibility Criteria Amendment
GSIS PENSION – A solon in the House of Representatives is pushing for a change in the eligibility criteria for a pension from the Government Service Insurance System.
Millions of Filipinos are members of the Government Service Insurance System or more popularly called GSIS. It is one of the biggest social insurance entities under the state in the country. Filipinos who are working in the government are mandated to be a member of the said state entity.
GSIS is operating in the Philippines for several decades now since 1937. It started as a life insurance entity and, later on, evolved to provide more services and offers for its members. Now, it has multiple benefits and loan offers including the GSIS Retirement Benefit.
It is under the GSIS Retirement Benefit that a retiring member of the Government Service Insurance System may avail of a GSIS pension. Upon reaching the age of 60, a member of the GSIS may pick a retirement program to receive a GSIS pension. There are three (3) documents that must be really secured in filing for a Retirement Benefit to a social insurance giant:
- Duly accomplished application form for Retirement/Separation/Life Insurance Benefit
- Service Record with Leave without Pay (LWOP) certification (indicating specific time and dates of LWOP
- Declaration of Pendency/ Non-Pendency of Case (DPNPC) form (date administered/ notarized should be on or after receipt of notification from GSIS
The Retirement Benefit is usually open for GSIS members who are 60 years old and will retire from work after being employed in the government service for at least 15 years unless in some special cases. Recently, a lawmaker in the House of Representatives want some changes in the eligibility criteria for a GSIS pension.
Based on a report on ABS-CBN News, SSS-GSIS Pensyonado Party-list (SGP) Representative Rolando Macasaet filed the House Bill no. 3127 that seeks to lower the minimum number of years for a member to qualify for a GSIS Pension to 10 years.
“Given these parameters, a person who intends to retire at the age of 60 shall be in government service by 45 years old at the latest. To be entitled to GSIS retirement pension, he/she must be in uninterrupted and qualified government service from said age,” the House solon stated.
According to Macasaet, out of “the 2,100,257 active members, only a portion will complete the 15-year mandatory service requirement and qualify for retirement pension”. Based on the report, he called on the Congress to revisit GSIS Act of 1997 and check if its provisions still serve the Filipinos. He claimed that the lowering of the required years for contribution will create the same ground between the GSIS and the Social Security System (SSS) with regards to the pension.
Aside from the Retirement Benefit, there are several other GSIS benefits that members may avail.