Despite shift in financial reporting standards- GSIS assures continued release of benefits to members, pensioners

State pension fund Government Service Insurance System (GSIS) is not affected by its recent shift to Philippine Financial Reporting Standard (PFRS) 4 and is capable of paying its financial obligations to GSIS members and pensioners. PFRS 4 requires the reporting of future social benefit liabilities in its financial statement. GSIS President and General Manager Rolando Ledesma Macasaet said in a statement that there will be no disruption in the payment of benefits to its members and pensioners as “the new accounting standards “will not adversely affect our capability to provide their benefits, as and when these fall due.” In its...

GSIS opens emergency loan for members hit by Ulysses, Rolly

Date Posted: November 20, 2020 State pension fund Government Service Insurance System (GSIS) is offering emergency loan to its members and pensioners affected by Ulysses, Rolly and other typhoons that hit the country since October this year. “Marami sa ating mga miyembro at pensiyonado ang naapektuhan ng mga nagdaang bagyo at gusto naming bigyang ginhawa ang kanilang sitwasyon kaya naman inaalok namin sila ng emergency loan,” GSIS President and General Manager Rolando Ledesma Macasaet said. “Members and pensioners may borrow Php20,000 under the GSIS Emergency Loan Program. The loan is payable in 36 equal monthly instalments at only 6% interest...

GSIS offers low-interest loan with waiver on surcharges of other loans; phases out conso-loan

List of kiosks with MPL Date Posted: September 30, 2020 The Government Service Insurance System (GSIS) will launch on October 1 a loan facility that offers low interest, enhanced loan consolidation feature, longer payment term and one-time waiver of surcharges on all due and demandable GSIS loan accounts of its members, except housing and policy loan. Dubbed GSIS Multipurpose Loan (GSIS MPL), the new loan program gives borrowers an additional credit line that will help them consolidate and pay their outstanding GSIS loan balances. With the implementation of GSIS MPL, the Enhanced Conso-loan Plus will be phased out. All members...

GSIS set to release ₱12.9 million in insurance benefits to 8 government frontliners who succumbed to COVID-19

Date Posted: April 30, 2020 The Government Service Insurance System (GSIS) is set to release ₱12.9 million in life insurance benefits to the families/beneficiaries of the eight government health workers who succumbed to the COVID-19 virus. This was announced today by Rolando Ledesma Macasaet, President and General Manager of the state pension fund. “Our insurance officers are already coordinating with the bereaved families. Once the papers are duly processed, we will release the amounts without delay,” Macasaet said. “And as promised, we will be granting an additional ₱500,000 under our Bayanihan Fund for Frontliners (BFF) on top of their regular...