Guide on GSIS Survivorship Pension or Benefit Conditions
GSIS SURVIVORSHIP PENSION – Here is a guide on what will happen if the beneficiary of a deceased Government Service Insurance System (GSIS) pensioner died.
Undeniably, the pension or the retirement benefits is the benefit that almost all members of the Government Service Insurance System (GSIS) and the Social Security System (SSS) look forward to the most.
If you have a pension, it is an assurance that you will really receive a certain amount monthly after retiring from work. Truths be told that several senior citizens dedicate their pension to their medical expenses.
However, there are also cases when pensioners were not able to benefit long enough from their savings to a social insurance institution. Some died shortly or a few years since they began receiving pension.
In cases of pensioner’s death, the GSIS may grant a part of the pension to the beneficiaries of the pensioner. It is because the social insurance institution considers the retirement benefits as a right and not just a privilege.
Under the GSIS Survivorship Benefit, the primary or secondary beneficiaries may claim. Do you want to know who are considered as the beneficiaries? You may visit – GSIS PENSION – Who Are Considered As Primary & Secondary Beneficiaries.
Another possible situation is that the beneficiary of a GSIS Survivorship Pension also died. According to the social insurance institution, it will “not result in the accrual of that portion of benefits to the other beneficiaries”.
The legal spouse of the late pensioner may receive 50% of the member’s Basic Monthly Pension (BMP). For the children, each minor may receive 10% of the BMP. A maximum of five (5) children may be granted pension.
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READ ALSO: GSIS RETIREMENT BENEFIT – How Much You Can Get Under R.A. 8291
