GSIS hikes cap on survivorship pension

February 21, 2011 11:14 pm 

MANILA, Feb. 21 – The Government Service Insurance System’s (GSIS) Board of Trustees has approved the increase of the cap in the grant of survivorship pension.

GSIS President and General Manager Robert Vergara said the previous maximum amount of survivorship pension is 50 percent of the Step 1 salary level under the Salary Standardization Law.

He, however, said the new rule places the cap at 50 percent of Step 8 salary level, which is the level being received by an undersecretary and amounts to slightly over P30,000.

He said they approved the cap to half of what is being received by those in the rank of undersecretary because “this is the highest career position in government.”

Relatively, the GSIS chief said retired government employees whose pensions were suspended under the old policy will receive the accrued amounts equivalent to the period of suspension.

“We request surviving spouses whose applications were previously denied to submit their applications for processing and computation retroactively,” he said.

It can be recalled that the GSIS Board resolved last January a move to allow surviving spouses of members and pensioners to receive their monthly pension benefits even if they are gainfully employed and receiving other sources of income, a decision that was not allowed previously.

The GSIS said more than 300,000 old-age and survivorship pensioners will benefit from the new survivorship pension rule.

Vergara said they will remain focused on the agency’s social mission and will put the highest premium on the needs of its over 1.7 million members and pensioners.

He urged the public to call GSIS’ hotline – 479-3645 – or visit the GSIS office near them for any inquiries. (PNA)



Comments are closed.