GSIS holds dialogue with members
In Malolos, Bulacan
The declaration of a nationwide work suspension in government offices last week did not deter more than 200 Government Service Insurance System (GSIS) active members and pensioners from attending the stakeholders’ dialogue convened in Malolos, Bulacan.
“This is part of our continuing effort to be transparent and consultative to our stakeholders and we hold the consultation ‘rain or shine’,” GSIS Chairman Francisco Duque III said in a statement.
The dialogue, which is the third since Duque’s appointment as chairman, aims to update GSIS members and pensioners on the thrusts of the new Board of Trustees, as well as to hear the concerns and suggestions of GSIS stakeholders to improve service.
“I take note of the inputs gathered from the forum, which I then discuss with the Board, to determine whether we need to amend or formulate certain policies that will further make our service delivery more responsive,” Duque said.
He recognized that the pension fund has made remarkable strides in the last six years owing to the reforms that it has implemented. Among the reforms cited were the non-suspension policy for members working in suspended agencies, restoration of survivorship benefit, increased minimum basic pension of R5,000, and renewed partnership with the Land Bank of the Philippines.
Duque stressed however that GSIS will “never be complacent and is poised to rise even higher as it competes in the global arena” in the next six years.
“Our new vision benchmarks GSIS as one of the top three defined-benefit pension fund institutions in the ASEAN region by pursuing service quality and sound financial management.”
Duque also informed the stakeholders that beginning this year, GSIS commits a shorter processing period for retirement and life Insurance, motor vehicle and service loans.
“The processing period for all retirement and life insurance claims is further reduced from 90 days to 30 days, motor vehicle claims from 45 days to 40 days, and service loan to three days from five days, after approval of your agency authorized officer or AAO.”
He also said that the pension fund will conduct financial literacy lectures in 2017 to help new government entrants and retiring members, make informed and effective financial decisions. The lectures will be held in partnership with the Civil Service Institute, the Philippine Deposit Insurance Corporation and other known financial literacy experts.
During the program, Duque awarded a check of R30,000 to 95-year-old pensioner Salome Buendia representing her milestone benefit that is given to pensioners upon reaching the ages 90, 95 and 100 years, amounting to R20,000, R30,000 and R50,000, respectively.