MARAWI CITY, Lanao del Sur, Jan. 15 (PIA) --- Top officials of Government Service Insurance System (GSIS) explained to agency heads in the province the non-suspension policy recently adopted by the state pension fund.
The GSIS has institutionalized a policy that will no longer suspends agencies for as long as they remit at least 90 percent of their billed amount, said GSIS Vice President for Mindanao Atty. Lourdes C. Dorado during the GSIS dialogue with municipal mayors and treasurers held here Tuesday, January 14.
She said the policy also provides remedial guidelines for already suspended agencies so that GSIS loan privileges and benefits of their employees can be restored.
According to Dorado, suspended agencies have two options for the lifting of their suspension status under the new policy.
They can pay the arrearages in full or execute a memorandum of undertaking with the GSIS, she said.
But, only agencies paying at least 90 percent of the billed amount since July 2013 are qualified to execute a memorandum of undertaking with GSIS.
In the undertaking, Dorado said suspended agencies are required to provide pertinent documents necessary for the updating of employees records, cooperate with GSIS for the reconciliation of premium remittances both for personal and government share as well as loan repayments of its members, and acknowledge the arrearages based on the updated records and reconciled accounts.
They are also obliged to officially inform their employees that pending the settlement of the premium arrearages, loan privileges and benefits due them will be based on the periods with premium payments only.
Records from GSIS Iligan Branch shows that 31 out of the 48 problematic agencies in the province are qualified to execute an undertaking with the state pension fund.
Dorado said 14 agencies have started to submit the necessary documentary requirements for the signing of the undertaking.
Meanwhile, GSIS Board of Trustees member Mario J. Aguja challenged agency heads to focus their energy in resolving their agency problems with the GSIS so that their employees can enjoy GSIS benefits.
He said this will also serve as their legacy to their constituents.
Aguja further underscored the importance of updating service records and reconciling of accounts for the GSIS and the agency to move forward to the negotiation on the settlement of the agency’s arrearages.
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