GSIS offers penalty condonation to gov’t agencies that will settle unpaid premiums

The Government Service Insurance System (GSIS) is urging government agencies to pay unremitted premium contributions to avail of penalty condonation. “We encourage government agencies to enter into a memorandum of agreement (MOA) with GSIS to assist you in settling the unremitted contributions of your employees. Magtulungan po tayo sa pagbibigay ng nararapat na ginhawa sa kapwa natin kawani ng gobyerno,” appealed GSIS President and General Manager Rolando Macasaet. A percentage of the penalties of the total amount of agencies’ obligations will be condoned. Agencies may get 40% condonation on the penalties of their outstanding premium obligations if their account is...

GSIS members reminded on ill effects of unpaid loans

Date Posted: Nov. 25, 2019 State pension fund Government Service Insurance System (GSIS) has urged its members to ensure religious and accurate loan repayment in order avoid negative consequences on their social insurance benefits. “We are reminding our member-borrowers to pay the correct loan amortizations on time. This will preserve their future benefits, which they have earned and should enjoy for devoting their prime in government service,” GSIS Chairman and Acting President and General Manager (APGM) Rolando Ledesma Macasaet said. He added that if left unpaid, loans incur interests and penalties. When the obligation is deducted from their retirement or...

GSIS opens housing account condonation program

Date Posted: October 30, 2018 State pension fund Government Service Insurance System (GSIS) has launched on October 15, its newest housing account condonation program, which will run until December 31 this year. Under this program, GSIS is offering full waiver of penalties and surcharges to interested applicants who will pay their housing account obligations in full. “We are calling on our borrowers to seize this chance to completely secure your homes. This condonation program will also lighten your burden as it will allow you to settle your accounts without having to pay penalty charges from your unpaid amortizations,” GSIS President...

GSIS to offer new housing loan condonation until Dec. 31

Date Posted: September 24, 2018 Starting October, the Government Service Insurance System (GSIS) will offer a 100% waiver of unpaid penalties and surcharges to housing buyers and borrowers with past due accounts and are willing to settle their housing obligations in full. The deadline for the submission of application to the condonation program is on December 31. “Majority of our existing borrowers stand to benefit from this program as almost 55% of our remaining 29,000 housing accounts are for cancellation, foreclosure or have incurred several months of arrears,” GSIS President and General Manager Jesus Clint Aranas said. “The program will...

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