GSIS retirement benefits of government employees
The Government Service Insurance System (GSIS) here in Negros Occidental vowed to release the retirement benefits of government employees in within a day starting this year.
GSIS Negros Occidental Branch Manager Maria Vilma Fuentes said the speedy processing of retirement benefits was provided under their renewed Citizen’s Charter.
Citizen’s Charter is made in compliance with Republic Act 9485 of the Anti-Red Tape Act of 2007 which was passed in order to improve efficiency in the delivery of government service to the public by reducing bureaucratic red tape and preventing graft and corruption.
Fuentes said the disbursement of checks for retirement benefits will be ready for pick-up on the 30th day from the date of filing, provided, that the retiree concerned will inform GSIS his/her intention to retire 90 days prior to actual date of retirement.
Fuentes stressed it will always be an advantage if the retiree will inform GSIS even a month prior to his/her retirement so they can reconcile their records in due time. If followed, retirees can also get their benefits on time and without hustle, she added.
GSIS is following Republic Act 8291 or the Government Service Insurance System Act of 1997 in granting the retirement benefits of government employees.
Under the law, employees qualified are those who have rendered at least 15 years in government service and must be at least 60 years old upon retirement.
Retirees have two options in availing their retirement benefits. First is the five-year lump sum and old age pension wherein applicant can get his/her five-year worth of pension in advance.
The lump sum is equivalent to 60 months of basic monthly pension (BMP) payable at the time of retirement. After five years, the retiree will start receiving his/her monthly pension.
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