Date Posted: January 12, 2017
State pension fund Government Service Insurance System (GSIS) has started releasing last January 6 a total amount of Php185 million in cash benefit for its members.
“The total cash benefit this year is far lower than the Php848 million GSIS released last year due to the decreased net income from Php140 billion in 2014 to Php47 billion in 2015,” Officer-in-Charge and concurrent Senior Vice President for NCR Operations Nora Malubay-Saludares said.
OIC Saludares added that GSIS’s income was affected by the decline in the Philippine stock market in 2015.
Pursuant to Board Resolution No. 24 dated 10 March 2016, the following applicants replaced the three previously listed grantees under the GSIS Scholarship Program (GSP) for AY 2016-2017:
The recommended applicants shall replace grantees (above) who failed to comply/submit requirements within the 30-day prescriptive period.
On the other hand, the recommended applicants are next-in-line in the regions they are proposed to be slotted, having met the qualifications and eligibility requirements in the respective category they are supposed to fill in, per Item No. III.D.10 of GSP Policy and Procedural Guidelines No. 303-16.
The replacement-grantees shall be entitled to the following benefits during their 4- or 5-year course: