Gsis 101 2z3o1p

WELCOME To the GSIS Family

Charter • GSIS, a government financial institution, was created by the Congress of the Philippines through Commonwealth Act No. 186 on November 14, 1936. • Primary objective: to promote the welfare of government employees through an insurance system that will protect its against adverse economic effects resulting from death, disability and old age.

(updated as of 14 August 2014)

Other Funds istered • Employees’ Compensation Fund, which provides for work-related social security benefits for the public sector. • General Insurance Fund, which provides non-life coverage for all properties with government insurable interest

(updated as of 14 August 2014)

GSIS VISION In the next five years, we will rebuild the Government Service Insurance System as the premier pension fund institution and as a world-class center for providing the highest quality of service to its . GSIS will be an organization that is transparent, autonomous and beyond public reproach.

(updated as of 14 August 2014)

GSIS MISSION To regain the trust and confidence of our stakeholders, we will singularly pursue the social mission of our charter and promote an efficient organization that is fully-automated and member-focused. We will relentlessly strive for continual improvement in our services driven by integrity, professionalism, and a culture of public service.

(updated as of 14 August 2014)

GSIS MISSION We will sustain the financial viability of the System and ensure its prolonged actuarial life, for the benefit not only of our existing , but also the next generation of government employees. We will restore the pride of GSIS so as to retain and recruit staff that share our commitment. Finally, we will endeavor to empower our to enable them to participate in the evolution of our institution.

(updated as of 14 August 2014)

GSIS Offices

(updated as of 14 August 2014)

GSIS Offices

SOUTH

NORTH

Big

Medium

Cabanatua n Dagupan

Baguio Bulacan Cauayan Laoag Pampanga Tuguegara o

Small/Extension Bataan Bayombong Iba La Union Tarlac

Big Batangas Laguna Naga

(updated as of 14 August 2014)

Medium Legazpi

Small/Extension Lucena Palawan Sorsogon Calapan EO Mamburao EO Virac EO Boac EO Masbate EO

GSIS Offices

MINDANAO

VISAYAS

NCR Area I Big Cebu Ilo-Ilo Bacolod Tacloban

Medium Dumaguet e

Small/Extension Catbalogan Bohol Roxas Maasin Antique EO Aklan EO Ormoc EO Catarmna EO Borongan EO

Big Davao Gen. Santos

(updated as of 14 August 2014)

Medium Zamboang a CDO Iligan Dipolog Butuan Tagum Pagadian

Small/Extension Cotabato Malaybalay Kidapawan Surigao Basilan EO Tandag EO

Major Operational Functions • hip istration • Frontline Services • Billing and Collection • Individual Reconciliation of s • Agency s Reconciliation

(updated as of 14 August 2014)

hip Benefits and Privileges

(updated as of 14 August 2014)

Types of hip 1. Regular Member 2. Special Member

(updated as of 14 August 2014)

Coverage GSIS covers all government workers regardless of employment status, except: • of the Judiciary and Constitutional Commissions covered by separate retirement laws; •Contractual employees who have no employee-employer relationship with their agencies; and •Uniformed of the Armed Forces of the Philippine, the Philippine National Police, and the Bureau of Jail Management and Penology (updated as of 14 August 2014)

Where does my contributions go? Personal Share (life and retirement) – 9%

Employer Share (life and retirement) – 12%

2% - life insurance

2% - life insurance

7% - retirement

10%- retirement TOTAL= 21%

(updated as of 14 August 2014)

Three pillars of GSIS

GSIS

MEMBER

To pay the required contributions

AGENCY

To efficiently manage funds & dispense defined benefits under the law

To remit accurately & promptly the mandated contributions for both personal & government

shares, including loan repayments

(updated as of 14 August 2014)

Benefit Package • Life insurance • Retirement benefits • Separation benefits • Unemployment benefits • Survivorship benefits • Employees compensation for workrelated contingencies

(updated as of 14 August 2014)

Insurance Benefits Enhanced Life Policy (ELP) •

Termination value (25% of s paid)

•

Death benefit

•

Annual dividend

•

Policy loan (90% of termination value)

(updated as of 14 August 2014)

ELP Death Benefits Computed based on the last monthly salary of the policyholder immediately preceding his death Gross Amount of Insurance (AOI)

(Latest

Monthly Salary x 12) X AOI factor of 1.5

shall be paid to his qualified beneficiaries as determined by the System

(updated as of 14 August 2014)

Retirement Laws RA 660 or “Magic 87” RA 1616 or “Take All” PD 1146 RA 8291 or the GSIS Act of 1997 RA 7699 or the Portability Law

(updated as of 14 August 2014)

RA 8291 Eligibility at least 15 years of service at least 60 years old upon retirement not a permanent total disability pensioner retired on or after June 24, 1997 Two options •5 year-Lump sum plus Old age Pension after 5 years •18 months Cash payment plus Pension immediately

(updated as of 14 August 2014)

RA 8291 OPTION 1

OPTION 2

5 years lump sum + Old Age Pension

18 months cash payment + Old Age Pension

 60 months BMP upon

18 months cash payment upon retirement

retirement  monthly pension after 5 years

pension for life upon retirement

✓cash gift & pension

Eligible to CLASP

✓ increase after 5 years

cash gift & pension increase after 5 years

(updated as of 14 August 2014)

RA 8291 Computation of Pension BMP= (0.025) x (AMC + P700) x Periods with s Paid (PPP) BMP not to exceed 90% of AMC 36 years in service to enjoy BMP of 90% AMC Cash gift and pension increase after 5 years

(updated as of 14 August 2014)

Comparison between Options 1 and 2 Date of Retirement: 03/01/2012 Basic Monthly Pension: P25,000.00 5 years lump sum

18 months cash payment

pension to start on 03/01/2012

60 months

pension to start

total benefits received

total benefits received

03/01/2017

P 1.5 M

P 1.95 M

(updated as of 14 August 2014)

60 months + 18 months

03/01/2017

CLASP

ELIGIBILITY:

Choice of Loan Amortization Schedule for Pensioners

Those who retired with immediate pension under RA 8291, RA 660 and PD 1146.

PAYMENT PLAN Retiree may choose a payment plan between 1 to 3 years

FEATURES: Housing loan obligation will NOT be deducted from retirement benefits.  Retiree may choose a payment plan between 1 to 3 years



 75/25  50/50  25/75

(updated as of 14 August 2014)

= 1 to 3 years = 1 to 3 years = 1 to 3 years

Portability Law (RA 7699) Eligibility The total amount of SSS and GSIS contributions will qualify for pension benefit in either of the institutions Contributed less than 120 months of SSS contribution or less than 180 months of creditable government service (no overlapping of service).

(updated as of 14 August 2014)

Separation Benefit Cash payment 3 years but less than 15 years of service and below 60 y/o: 100% of the AMC per year of creditable service payable at age 60 At least 15 years of service and below 60 y/o = 18x BMP payable immediately; monthly pension at age 60 Prescribes after four years from separation

(updated as of 14 August 2014)

Unemployment Benefit Eligibility Separated from service due to reorganization, abolition of post, redundancy Benefits Equal to 50% of AMC, maximum 6 months based on years of service Subject to deduction in retirement claim after re-employment in gov’t Prescribes after four years

(updated as of 14 August 2014)

Unemployment Benefit For those separated from the service due to reorganization, abolition of position, redundancy Contribution in years

Benefit duration

1 but less than 3

2 months

3 or more but less than 6

3 months

6 or more but less than 9

4 months

9 or more but less than 11

5 months

11 or more but less than 15

6 months

Prescription Period for Filing: 4 years (updated as of 14 August 2014)

Disability Benefit (non-work connected)

Temporary Total Disability (TTD) Eligibility  in active service at the time of disability  if separated from the service, with at least 36 monthly contributions within the five (5) year period immediately preceding the disability; or has paid 180 monthly contributions prior to disability Benefit Minimum of P165/day Maximum of 75% of daily wage Paid for a minimum period of 120 days to a maximum of 240 days

(updated as of 14 August 2014)

Disability Benefit (non-work connected)

Permanent Partial Disability (PPD) Eligibility in active service if separated from the service, with at least 36 monthly contributions within the five (5) year period immediately preceding the disability; or has paid 180 monthly contributions prior to disability Benefit Cash payment = BMP x No. of PPD months * Period of entitlement shall not exceed 12 months for the same contingency * (updated as of 14 August 2014)

Disability Benefit (non-work connected)

PPD and TTD shall be compensable when there is actual loss of income. The actual loss of income shall refer to the number of days when a member went on leave of absence without pay (LAWOP) reckoned immediately from the date of commencement of disability and for the duration of entitlement, based on medical evaluation. Any LAWOP incurred after the duration of entitlement to the benefit shall not be compensable.

(updated as of 14 August 2014)

Disability Benefit (non-work connected)

Permanent Total Disability (PTD) CONDITION

BENEFIT

If in active service and has less Basic Monthly Pension than 15 years of service (BMP) for life If in active service and has at least BMP X 18 month plus 15 years of service pension immediately If separated from the service and BMP for life has 36 monthly contributions within the 5-year period immediately preceding the disability

(updated as of 14 August 2014)

Survivorship Benefit Eligibility primary beneficiaries of deceased who have been in the service for 15 years or more of periods with s paid Benefits survivorship pension, cash payment equivalent to 18 times of pension The surviving spouse is entitled to 50% of the deceased member’s pension In the absence of primary beneficiaries, beneficiaries shall receive the cash payment only.

(updated as of 14 August 2014)

secondary

Survivorship Benefit  The surviving spouse of deceased who have less than 15 years of periods with paid s shall receive a cash benefit/payment equivalent to: 100% of the average monthly compensation for every year of periods with s paid  Prescribes in four years but prescriptive period stops upon filing of funeral benefit.  The Funeral Benefit application is considered as a constructive notice of an application for survivorship claim.

(updated as of 14 August 2014)

Survivorship Benefit Inactive Primary beneficiaries of inactive who have at least 15 years of creditable service shall receive survivorship pension

(updated as of 14 August 2014)

Funeral Benefit Order of priority of claimants for funeral benefit 1.Surviving Spouse 2.Any of the following persons who can present receipt/s of expenses, provided that the surviving spouse, if still living, has acknowledged that this person shouldered the funeral expenses:  Children of the deceased member or pensioner  For single deceased member or pensioner, relatives up to second degree of consanguinity  Any claimant other than children

(updated as of 14 August 2014)

P20,000 for GSIS and old-age pensioners P 10,000 for uniformed of PNP

(PD 626) Employees’ Compensation & State Insurance Fund •

PD 626 took effect on 1 January 1975 replacing the old Workmen’s Compensation Program under RA No.3428;

•

Implementation is done by 3 agencies of the government: the Employees’ Compensation Commission, GSIS and SSS.

•

Contribution to the SIF is paid in its entirety by the employer and any contract or device for the deduction of any portion of this contribution from the salaries of the employees shall be null and void.

(updated as of 14 August 2014)

(PD 626) Employees’ Compensation & State Insurance Fund •

Any sickness is compensable if it is listed by the ECC as an occupational disease (under Annex “A” of the amended rules with all the conditions in such list satisfied).

•

Effective Calendar Year 2003, upon approval by the ECC of the GSIS recommendation, the ECC contribution was increased from Php30 to Php100

(updated as of 14 August 2014)

GSIS Loan Privileges • Consolidated (salary) loan • Policy loan • Emergency loan

(updated as of 14 August 2014)

Conso-Loan Loanable Amounts Length of Service

Amount of Loan Based on Current Basic Salary

20 months

3 months

40 months

4 months

5 years

7 months

10 years and more

10 months

Interest: 12% based on diminishing balance

: 6 years for permanent employees; 2 years for non-permanent employees (updated as of 14 August 2014)

Policy Loan Eligibility  Member must be insured for at least one year  Maximum loan amount: 90% of the accumulated termination value of the policy.  Interest: 8% per annum compounded monthly  Renewable on or after anniversary date.

(updated as of 14 August 2014)

Emergency Loan Eligibility Living or residing in declared calamity area Active member not on Leave of Absence Without Pay (LWOP) No arrears in No due and demandable loan Has paid 12 monthly amortization if there is a previous EL

Amount: Php20,000.00, payable in 3 years Interest Rate: 6%

(updated as of 14 August 2014)

Be Financially Responsible Your entitlement to GSIS loans is a privilege as a member. To avoid future problems concerning your GSIS loans: Make repayments on time. Coordinate with your AAO for the timely deduction (from your salary) of your loan repayments. Late payment of your monthly amortizations will result in the imposition of surcharges. Ensure that correct payments are being made to avoid additional interests on “underpayments”. For example, if you applied for a Consoloan in the amount of P10,000.00, and the computed monthly amortization is P1,000.00, then you must be deducted P1,000.00. If you are deducted only P800.00, the P200 underpayment will be subjected to additional interest and surcharges. (updated as of 14 August 2014)

Be Financially Responsible  Keep track of your loan availments. Manage your debts wisely to avoid arrearages (non-payment) on your monthly amortizations. that loan arrearages will be deducted from your future benefits in the GSIS (i.e., retirement claim, separation, life and others), thus reducing the amount of benefit that you will receive in time of contingency (i.e., separation from the service, etc.)  Settle obligations promptly. All loans availed in the GSIS have a “pre-termination” clause; which means that in case of your sudden separation from the service, all outstanding loans will immediately become due and demandable. Settle the outstanding obligation promptly, to avoid the accumulation of interests which will make it more difficult to settle. The GSIS has extra-judicial collection mechanism applied to separated with outstanding obligations. (updated as of 14 August 2014)

Pension Loan Eligibility Old-age pensioner under RA 660, PD 1146 or RA 8291 Loanable Amount 60 to 65 yrs. old 65 to 70 yrs. old 70 yrs. old and above

6x pension not exceeding P100K 4x pension not exceeding P60K 2x pension not exceeding P20k

: 24 months to pay at 10% interest per annum Has Loan Redemption Insurance

(updated as of 14 August 2014)

Road to Electronic Processing:

The GSIS eCard and Kiosks Evolution of the GSIS eCards

1st Generation: eCard

2nd Generation: eCard Plus

3rd Generation: UMID

The GSIS eCard Features / Uses of the GSIS eCard 1st Generation: eCard

2nd Generation: eCard Plus

3rd Generation: UMID

• Identification Card • ATM card • Debit card • Disbursement card for loans, dividends and monthly pensions

• Identification Card • ATM card • Debit card • Disbursement card for loans, dividends and monthly pensions • Discount Card • Enabled to store bigger amount of information with the new features: –Biometrics –RFID –Wireless telephony

• Identification Card • ATM card • Debit card • Disbursement card for loans, dividends and monthly pensions • Discount Card • Enabled to store bigger amount of information with the new features: –Biometrics –RFID –Wireless telephony • One ID to be used by GSIS, Pag-ibig and Philhealth with the use of a Common Reference Number (CRN) per EO 420

(updated as of 14 August 2014)

Used e-Card in Paying Claims starting Oct 14, 2013

 Claim proceeds now electronically credited via eCards instead of checks  Ensures timely release of benefits

me e r eti h t R a De -need e r V P CS rity u t y a t i M bil im Cla

Dis

 Makes processing twice as fast than traditional check payment (updated as of 31 July 2014)

im Cla l era nt Fun

a

Your eCard and the GSIS Wireless Automated Processing System or GW@PS

• Apply for loans ( 919 GW@PS kiosks deployed nationwide) • View personal records • Renew active status (of pensioners) (updated as of 14 August 2014)

The Agency Authorized Officer (AAO) The AAO is an officer designated by his agency through a memorandum of agreement with GSIS. Responsibilities •

Ensures that the applicant meets all the qualifications to obtain a GSIS loan before certifying it

•

Provides information on updates in the hip records of

•

Provides employment information to GSIS pertinent to claims application Maaasahan ng Lingkod - Bayan (updated as of 14 August 2014)

56

The GSIS Liaison Officer

Responsibilities Represents his/her agency in all transactions in GSIS. Disseminates information to his/her co-workers about new GSIS policies or programs Ensures that documents required in filing of claims are complete

Maaasahan ng Lingkod - Bayan (updated as of 14 August 2014)

57

Products

THE GSIS MANDATE

REPUBLIC ACT (RA) 656 PRESIDENTIAL DECREE (PD) 245 ISTRATIVE ORDER (AO) 33 ISTRATIVE ORDER (AO) 141

REPUBLIC ACT 656 (RA 656) An act to create and establish a “Property Insurance Fund” and to provide for its istration and for other purposes. To indemnify or compensate the government for any damage to, or loss of , its properties due to fire, earthquake, storm or other casualties. To authorize the GSIS to reinsure with private insurance companies under such and conditions that may be mutually agreed upon any excess risks it may deem advisable. To issue insurance covers for all properties over which the government has insurable interest under such

REPUBLIC ACT 656 (RA 656) To prescribe the necessary rules and regulations including incidental powers necessary for its operations; To require inventory of government properties, determine their value for purposes of insurance and advise these offices of the s they will pay. To adopt rates which shall not exceed the rates charged by private insurance companies

GSIS offers affordable Optional Non-Life Insurance to

ONLI Products Fire Insurance Motor Vehicle Insurance Personal Accident Insurance

Fire Insurance

Fire Insurance

GSIS ONLI Fire Insurance •

GSIS offers the most affordable fire insurance

•

Available to all active GSIS dependents, retirees & pensioners

&

their

WHAT CAN BE COVERED? • •

Residential Unit Townhouse Unit

Condominium Unit Apartment Unit

•

Any of the above commercial/business units owned by a corporation where any of the qualified assureds’ own MAJORITY SHARE in the corporation

•

Household/business furniture/fixture/personal fittings/effects owned by qualified assureds

(updated as of 14 August 2014)

Fire Insurance The standard fire policy may be extended to include the additional perils of: Full Earthquake Typhoon Flood Riot, Strike and Malicious Damage Robbery/ Burglary Extended Cover Falling Aircraft Vehicle Impact Explosion Smoke NOTE: Deductible

Fire Insurance

MOTOR VEHICLE INSURANCE A protection provided against Hazard and Liabilities arising from the use, maintenance and ownership of the vehicle insured.

Fire Insurance

•The lowest & most affordable motor vehicle insurance in the market •Comprehensive Insurance coverage provides protection of the insured's vehicle against loss or damage due to accident •Available to GSIS and relatives within the first degree of affinity

(updated as of 14 August 2014)

Fire Insurance TABLE OF DEDUCTIBLES PERIL

 

Typhoon, Flood, Full Earthquake

2% of the actual value of the affected item of insured Property at the time of loss for each claim or series of claims

 

 

Extended Cover

1% of the sum insured on the affected item at the time of the loss, subject to a minimum of Php 1,000 and a maximum of Php 500,000 in respect of aircraft, smoke, explosion and vehicle impact.

Fire Insurance

BASIC REQUIREMENTS Duly filled out Application Form Certificate of Availability of Funds Latest Inventory with Latest Appraisal Value

INSURANCE PRODUCTS

MOTOR VEHICLE INSURANCE A protection provided against Hazard and Liabilities arising from the use, maintenance and ownership of the vehicle insured.

MOTOR VEHICLE INSURANCE

MOTOR VEHICLE INSURANCE

MOTOR VEHICLE INSURANCE COVERAGE CTPL – Compulsory Third Party Liability Comprehensive Coverage  LD – Loss/Damage  AON – Acts of Nature  PD – Property Damage  EBI – Excess Bodily Injury  UD – Unnamed Driver  UPPA – Unnamed enger Personal Accident

MOTOR VEHICLE INSURANCE

Type of Vehicle - Private Car Period of Cover - one year Coverage Sum Insured CTPL Php 100,000.00 Php 495.00 Loss/Damage(LD) 1,000.000.00 4,134.00 Acts of Nature 1,000,000.00 550.00 Property Damage 100,000.00 730.00 EBI 100,000.00 180.00 Unnamed Driver 10,000.00 25.20 UPPA for 6 engers 10,000.00/enger 151.20

TABLE OF DEDUCTIBLES 0.5% of the sum insured for Loss Damage/ AON Cover Motor Vehicle - Commercial 1% of the sum insured for Loss Vehicle and Motorcycles Damage/ AON Cover   1% of the sum insured, any one Floater - Heavy Equipment loss Floater - Movable Equipment 10% of sum insured due to theft (cellphones, laptop, camera) (if with theft cover) Motor Vehicle - Private Car

Floater - Movable Equipment 5% of sum insured of each item (cellphones, laptop, camera) for losses other than theft

MOTOR CAR REQUIREMENTS NEW

Brand New (CTPL and COMPRE) A. Sales Invoice B. Application Form duly signed by the Head of Office and /or Authorized Official (Please indicate the person and number) If the “Dealer” will file – letter of authorization from the Assured C. Stencil of Motor and Chassis Number D. Letter request from the Assured that they are requesting for CTPL Cover Only

New Application 1.2.1 CTPL a. Application Form duly signed by the Head of Office and/or Authorized Official (Please indicate the person and number) b. Photocopy of OR/CR b.1 If ed under the name of the Insured – OK b.2 If not, please submit EITHER of the following: b.2.1 Deed of Sale b.2.2. Deed of Donation b.2.3 Deed of Transfer b.2.4 Deed of Assignment b.2.5 Memorandum of Receipt (MR) c. Letter request from the Assured that they are requesting for CTPL Cover Only 1.2.2 COMPRE a. Requirements a and b under CTPL b. Pictures of the vehicle – four (4) sides c. Amount of vehicle to be insured

MOTOR CAR REQUIREMENTS RENEWAL Photocopy (Xerox copy ) of OR/CR If transfer of ownership, copy of Memorandum of Receipt (MR) For LAPSED compre policies Pictures of the vehicle – four (4) sides Application Form

INSURANCE PRODUCTS GROUP PERSONAL ACCIDENT INSURANCE (GPAI) Type of Insurance which provides benefits/ indemnity in case of losses to the person or physical well-being of an insured individual arising out of an accident.

GPAI COVERAGE Accidental Death/ Dismemberment/Loss of Sight, Hearing, Speech /Total Permanent Disability Medical Reimbursement (10% of Principal Sum maximum of Php 50,000) Bereavement 10,000)

Assistance

(Php

Unprovoked Murder (50% of Principal Sum maximum of Php

BASIC REQUIREMENTS Letter Request (indicate Sum Insured) Certificate of Availability of Funds List of Employees with positions to be covered (hard & soft copy)

GSIS ONLI Personal Accident Insurance For a minimum amount of Php51.00, a GSIS active member can be insured up to Php50,000.00 annually. GSIS Insurance (ONLI) provides benefits/indemnity in cases of loss to the person or physical well-being of an insured individual arising out of an accident.

Scope of Coverage •24 hour Worldwide Accident Insurance •Cover includes travelling abroad as a enger in a commercial airline

(updated as of 14 August 2014)

PROVIDES BENEFITS/INDEMNITY IN CASE OF LOSSES TO THE PERSON OR PHYSICAL WELL BEING OF AN INSURED INDIVIDUAL ARISING OUT OF ACCIDENT (Who are qualified?) Active Member/Retirees/Pensioners Children,Parents, Brothers & Sisters Age 3-80 y/o

rates

rates

BASIC REQUIREMENTS •Application duly signed (please indicate number) •Amount of Insurance applied for Principal Sum, Medical Reimbursement and Bereavement Assistance •Address (Home and Office) •Beneficiaries

At the new GSIS, it’s all about serving our and pensioners with the utmost RESPECT, COURTESY and KINDNESS…

Maaasahan ng Lingkod - Bayan (updated as of 31 July 2014)

90

Welcome to your Pension Fund!

(updated as of 14 August 2014)

GSIS: Maaasahan ng Lingkod-Bayan Maaasahan ng Lingkod - Bayan (updated as of 14 August 2014)

92

Thank you