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GSIS MONTHLY PENSION – List of Retirement Programs & Sample Pension Computations

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:

  1. Retirement Under Republic Act 8291
  2. Retirement Under Republic Act 660 or Magic 87
  3. Retirement Under Republic Act 1616
  4. 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.

GSIS Monthly Pension

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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