Guide on GSIS Monthly Pension Computation Based on the Retirement Programs
GSIS MONTHLY PENSION – Here is a list of the Government Service Insurance System’s retirement programs and the sample pension computations under each.
The social insurance system that covers the government employees in the Philippines is the Government Service Insurance System. More popularly called as GSIS, it offers retirement benefit to its members.
Based on the official website of the social insurance institution, a retired member has five programs to choose from for their retirement benefit. These are the following options:
- Retirement Under Republic Act 8291
- Retirement Under Republic Act 660 or Magic 87
- Retirement Under Republic Act 1616
- Retirement Under Republic Act 7699 or Portability Law
A member of the GSIS also have the options whether to take a monthly pension or a lump sum as a retirement benefit.
On its official website, the government agency has posted further details regarding the retirement programs for the GSIS monthly pension and the sample computations.
1. Retirement Under Republic Act 8291
This retirement program offers monthly pension and cash lump sum. It is open for those who have rendered at least 15 years in public service and at least 60 years of age at the time of his or her retirement.
2. Retirement Under Republic Act 1616
This retirement program is also known as the Gratuity Benefit. It requires at least 20 years of government service regardless of age and employment status. You must have entered public service prior to June 1,1997 to qualify to this program.
3. Retirement Under Republic Act 660 or Magic 87
This program also offers GSIS Monthly Pension. It is open for retirees who have entered the government service before June 1,1997, have permanent employment status, and at least 52 years of age. According to the agency, to qualify, the last three(3) years of service should be continuous.
4. Retirement Under Republic Act 7699 or Portability Law
This retirement benefit is for employees who are not entitled to a pension benefit from the GSIS or SSS due to unmet number of total contributions.
For the sample pension computations under these retirement programs, visit – https://www.gsis.gov.ph/downloads/20140107-Retirement_Options_Sample_Computation.pdf?csrt=4054897727847546330.
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I want to have an SSS card. Can I apply for it online?
Hoping your website will continuously serve it’s members and will be also available
The requirement for pensioners to APIR should be temporarily suspended while there is danger due to covid. While there is online for pensioners to comply for APIR, I find it so tedious for many of us due to ignorance of the present technology. I hope management will consider this. Thank you!
I am a retiree, at age 54 I file a leave in January 2007, not able to come back to work in the school. In 2012, I turn 60, I file my retirement, t5he proceeds was deducted to my account balance and the remaining-Region XI GSIS asked me to pay in cash but I just can’t due to financial problem. In 2018, when I visited again to check because I am thinking the proceeds of my monthly pension can pay my balance for the last six years. That was the time I know it was already in force in 2016 that all balances can be paid out of the accumulated pensions I had. But, I was not able to see the computation but I received a meager amount. Can I go and check the office to get the computation? I was able to make a loan for a two-year payable… is that the only way we can enjoy while still living? Is there any increase if the gov’t implement it and 13th month pay also? please help me to undersrand and give me other ways to enjoy pension. Thank you.
I am planning to retire next year may I know how much is my retirement.
I am 59 y.o.
36 years govt service permanet status, what is the best pension plan you can recommend for me, thank you.
How to v
ertify the pension of my father inlaw
Could you please show me a computation of my wife’s monthly pension, Preciosa B. Miranda (deceased). She is a State Auditor IV in COA. Then a computation to her beneficiary. I do appreciate if you can help me regarding this. Thank you.