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GSIS in 2022: One of top 3 defined-benefit pension fund institutions in ASEAN
GSIS in 2022: One of top 3 defined-benefit pension fund institutions in ASEAN

Date Posted: October 18, 2017

Malolos, Bulacan. The declaration of a nationwide work suspension in government offices did not deter more than 200 GSIS active members and pensioners from attending the stakeholders’ dialogue convened by Chairman Francisco Duque III in the city of Malolos.

“This is part of our continuing effort to be transparent and consultative to our stakeholders and we hold the consultation ‘rain or shine’,” Duque said.

The dialogue, which is the third since Duque’s appointment as Chairman in February this year, 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, such as the non-suspension policy for members working in suspended agencies, restoration of survivorship benefit, increased minimum basic pension of Php5,000, 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, Chairman Duque awarded a check of Php30,000 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 Php20,000, Php30,000 and Php50,000 respectively.

Pensioner Rose Guillen also delivered a message of thanks to GSIS for the conduct of the annual pensioners’ day where they are updated on new programs and treated to a day of wellness, games and fun.

“The pensioners’ day is very important to all of us because we are told about the news and updates about our benefits,” Guillen said.

In closing, Chairman Duque assured the stakeholders that GSIS will continue to keep the interest and welfare of its members and pensioners primordial, and will continue to find ways to provide responsive service “to those who serve” in government.

Chairman Francisco Duque III awards the milestone benefit facsimile check of Php30,000 to pensioner Salome Buendia who will turn 95 years old on October 21. Chairman Duque is joined by Officer in Charge – Senior Vice President for Luzon Group Salvacion Mate, Ms. Buendia’s relative Ericson, Bulacan Branch Office Manager Ma Leon Fajardo, and Vice President for North Luzon Office Eduardo Fernandez.

Chairman Francisco Duque III briefs members of local media regarding updates on GSIS policies and programs.