Date Posted: May 11, 2017
Newly appointed Government Service Insurance System (GSIS) Chairman Francisco T. Duque III explained the state pension fund’s new and enhanced initiatives at the annual convention of the national workers’ union of the Department of Health (DOH) held last May 5 at the Century Park Hotel in Pasay City.
Addressing the 400-strong members of the National DOH Employees Association (NADEA), Chairman Duque said GSIS committed a shorter processing time for retirement, separation and life insurance claims. “We will process 83% of these claims in 30 days from 90 days provided that complete documents have been submitted.”
GSIS also reduced the period to process motor vehicle insurance claims to 40 days from 45 days and service loans (policy, emergency, and conso-loan) to three days from five days upon approval of the agency authorized officer starting 2017.
Chairman Duque added that beginning Academic Year 2017-2018, the number of slots for the GSIS Scholarship Program has been raised to 600 from the previous 400; the amount of assistance project for each of the 96 schools for adoption under the Adopt-a-School Program until year 2022 has now increased to Php300,000 from Php200,000; and a financial literacy program will be launched to empower new and retiring members to make informed decisions regarding their GSIS benefits.
He also presented the GSIS’s new trustees and charter statement (vision, mission, and core values) at the event, which he considered as a homecoming, being a former DOH secretary.
Duque reminded NADEA members of their responsibility to remit on time their correct premium contributions and loan payments, which constitute the lifeblood of the pension fund and from which all present and future benefits are drawn.
“Team GSIS is committed to provide the necessary protection and grow its funds for the greater benefit of our over two million members and pensioners,” Chairman Duque said.
Officer-in-Charge (OIC) Nora Malubay-Saludares joined Chairman Duque in discussing GSIS members’ benefits and loan privileges at the convention.
