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GSIS

(Government Service Insurance System)


Nave . Oasin . Gajol . Villaluna . Mendoza

What is GSIS?

What is gsis?
a government owned and controlled corporation

(GOCC)
created by Commonwealth Act No. 186
a social insurance institution under a defined
benefit scheme

Who is covered
by GSIS?

All government workers


except:

Members of the Judiciary and Constitutional Commissions


covered by separate retirement laws

Contractual employees w/ no employee-employer relationship with


their agencies

Uniformed members of the AFP and the PNP, including the Bureau
of Jail Management and Penology and the Bureau of Fire Protection.

Who is covered by gsis?


What are the
benefits from GSIS?

Insurance Benefits
Enhanced Life Policy (ELP)
gives death benefits to the members family/beneficiaries and cash in the form of
termination value which can be withdrawn upon retirement or separation of service
Cash Termination Value + Death benefits + policy loan + dividends if any
If you entered the government service after July 31, 2003, you are automatically covered
with this policy.

Members with the old policy called LEP can also opt for ELP according to GSIS.

Life Endowment Policy (LEP)


offered to members who entered the government service before August 1, 2003.
maturity benefit + cash surrender value + death benefit + policy loan + dividends if any.
Can be converted into ELP according to GSIS approval.

Retirement Benefits
Retirement under RA 8291
5 year lump sum cash payment or
instant pension + monthly pension for
life
most common type of retirement plan
and pension chosen

To qualify:

rendered at least 15 years of service

must be at least 60 years old upon


retirement

Last 3 years of service must also be


continuous

Retirement under RA
660 a.k.a. Magic 87
To qualify:

Age + years of service = 87


3 options

automatic pension

initial 3-year lump sum

5-year lump sum

Retirement Benefits
Retirement under RA 1616
refund all your GSIS premiums +
gratuity payment from employer

Retirement under
Presidential Decree
1146

To qualify:

at least 20 years of service


regardless of age and employment
status

For those who have been


working in the government
after May 31, 1977 but before
June 24, 1997.

Portability Law RA 7699

You have the option if you


want to receive pension every
month and cash payment.

option to combine both your GSIS and


SSS creditable years of service to qualify
for retirement programs offered by both
pension funds

survivorship Benefits
cash and/or pension benefits provided for

the surviving legal spouse (as long as he/she doesnt remarry),


dependent minor children,
or incapacitated beneficiary,

when a member or a pensioner dies.

loan Benefits
Consolidated Loan

5 loans into 1 Salary Loan, Restructured Salary Loan, Enhanced Salary Loan,
Emergency Loan Assistance, and Summer One-month Salary Loan
payable in 6 years

loan Benefits

Consolidated Loan
Maximum amount of loan depends on creditable years of service

Policy Loan
You can apply for this loan if you have been insured at least one year provided you
have updated premium payments and has an active policy.
It bears compounded 8% interest per annum.

loan Benefits
Emergency Loan
You have to be a resident of a declared calamity area before you can avail emergency
loan.
Place must be declared under State of Calamity by the city council and approved by the
GSIS Board of Trustees.

Burial Benefits
given to GSIS retirees survivors or any person who shouldered the funeral expenses of
the deceased GSIS member

unemployment
Given to employees involuntarily separated from the service as a result of the abolition of
his office or position usually resulting from reorganization.

unemployment
monthly cash payments equivalent to 50% of the average monthly compensation

Employee paid contributions for

Unemployment benefit duration


(months)

1 year to less than 3 years


3 years to less than 6 years
6 years to less than 9 years
9 years to less than 11 years
11 years to less than 15 years

2
3
4
5
6

disability Benefits

benefits granted to a member due to the loss or reduction in earning capacity

GSIS assigns medical evaluator for members who avail disability benefits.
The loss in earning capacity shall be determined on the basis of the following:
The employees actual loss of income from the usual occupation
The capacity to engage in any other gainful occupation because of impairment
A disability may either be:
Permanent Total
Permanent Partial
Temporary Total

ec Benefits

Employees Compensation benefit


Another disability benefit provided for public and private sector workers and their
dependents in the event of work-related injury, sickness, disability or death.

housing Benefits
Their acquired assets are available for cash basis and as is where is policy for
interested members

General insurance
cheap insurance products such as personal accident insurance coverage, fire,
comprehensive insurance for vehicles, and other traditional insurance products like
aviation, bonds, property floater, marine cargo and marine haul.

scholarship
scholarship program every academic year for children of low-income GSIS members.
scholars will receive up to P 200,000 tuition and miscellaneous fees per semester +
monthly allowance of P2000.

Separation
given to employees who have not reached the retirement age (60) but have been
separated from the service.
Conditions:
3 to 14 years of service = Cash payment equivalent to 100% of the Average Monthly
Compensation for every year of service payable upon reaching age 60
15 + years of service = Cash payment equivalent to 18 times the Basic Monthly Pension
payable upon separation and Monthly pension for life starting at age 60