Guide on GSIS Separation Benefit Eligibility Qualifications
GSIS SEPARATION BENEFIT – Here is a guide on who are eligible to apply for the separation benefit of the Government Service Insurance System.
Are you working in the government or public sector? Most of employees working in the government and public sector are members of the Government Service Insurance System.
More commonly called as GSIS, the members remit an amount every month as savings. Part of it may be paid by the employer or the company that the member is working at.
A GSIS member may be eligible for several benefits and services of the social insurance institution. Also, it got loan offers for its members most especially in time of emergency.
One of the GSIS benefits is the GSIS Separation Benefit. It is for the government employees who were separated from work before reaching the age of 60 years old, the retirement age.
According to the social insurance institution, it can be given either through a cash payment or a cash payment and a pension. Here are the eligibility qualifications under the GSIS Separation Benefit:
The GSIS member…
- is below 60 years old;
- has been on the service for not less than three (3) years
The amount that the member will receive under the Separation Benefit depends on the length of service he rendered to the government. It was not stated whether there are qualifications with regards to the reason of the separation from service.
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READ ALSO: GSIS MONTHLY PENSION – List of Retirement Programs & Sample Pension Computations
