GSIS
GSIS
GSIS
C A L O O C A N C I T Y
GRADUATE SCHOOL
DOCTOR OF PUBLIC
ADMINISTRATION
ALLEZA E BAGNOL, JD, MSCA
REPUBLIC ACT NO. 8291
2.3. CONTRACTUAL
EMPLOYEES INCLUDING
CASUALS AND OTHER
EMPLOYEES WITH AN
EMPLOYEE-GOVERNMENT
AGENCY RELATIONSHIP ARE
ALSO COMPULSORILY
COVERED, PROVIDED THEY
ARE RECEIVING FIXED
MONTHLY COMPENSATION
AND RENDERING THE
REQUIRED NUMBER OF
WORKING HOURS FOR THE
MONTH.
MEMBERSHIP IN THE
GSIS
ICOMPULSORY MEMBERSHIP. -
SOURCES OF
FUNDS
COLLECTION
AND
REMITTANCE OF
CONTRIBUTIONS
AND OTHER
AMOUNTS
SECTION 11
AMOUNTS OF
CONTRIBUTION.
"MONTHLY COMPENSATION
PERCENTAGE OF MONTHLY COMPENSATION PAYABLE BY
MEMBER 9.0%
EMPLOYER 12.0%
MAXIMUM AVERAGE
MONTHLY COMPENSATION
(AMC) LIMIT AND BELOW
II.
OVER THE MAXIMUM AMC LIMIT
FOR INSTITUTIONAL
CLIENTS, GSIS OFFERS
NON-LIFE INSURANCE
COVERAGE SUCH AS FIRE,
ENGINEERING, MARINE
HULL AND CARGO,
AVIATION, CONTRACTOR’S
ALL RISK, BONDS, MOTOR
CAR, AND PERSONAL
ACCIDENT.
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FOR INDIVIDUAL
CLIENTS, INCLUDING
GSIS MEMBERS,
PENSIONERS AND THEIR
DEPENDENTS, THE
PENSION FUND OFFERS
GCARE PLANS, AN
UMBRELLA OF
PRODUCTS THAT
INCLUDE HOME SHIELD,
AUTO SHIELD AND
MYSHIELD.
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GSIS ALSO OFFERS COMPULSORY THIRD
PARTY LIABILITY (CTPL) INSURANCE AS PART
OF ITS MANDATE TO ISSUE ALL FORMS OF
NON-LIFE INSURANCE.
ALL GOVERNMENT INVOLVEMENT OR
EXPOSURE IN CORPORATIONS,
PARTNERSHIPS, JOINT VENTURES,
ASSOCIATIONS, AND THE LIKE IN WHATEVER
FORM LIKE LOANS, CREDIT GUARANTEE, TAX
INCENTIVES, OR DISCOUNTS, DONATIONS,
INVESTMENTS, FINANCING, AND
FRANCHISING, SHALL BE CONSTRUED AS
GOVERNMENT INTEREST AND IT SHALL BE
MANDATORY FOR THESE OPERATIONS,
PARTNERSHIPS, JOINT VENTURES, AND
ASSOCIATIONS TO OBTAIN THEIR
INSURANCES AND BONDS FROM GSIS.
GOVERNMENT AGENCIES, OFFICES, AND
GOVERNMENT-OWNED AND CONTROLLED
CORPORATIONS (GOCCS) ARE REQUIRED BY
LAW TO INSURE ALL PROPERTIES, ASSETS AND
INTERESTS OF THEIR RESPECTIVE OFFICES
WITH GSIS.
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GSIS GOES STEP FURTHER BY BEING ITS
COMPANION TO THE EMPLOYEES AS THEY JOURNEY
THROUGH THEIR CAREER IN GOVERNMENT SERVICE.
GSIS AIMS TO PROVIDE RELIEF OR “GINHAWA”
WITH THE VARIOUS BENEFITS, LOANS, AND
SERVICES OFFERED TO MEMBERS, PENSIONERS, AND
THEIR FAMILY MEMBERS.
GFAL
ACTIVE: THIS
PACKAGE IS
FOR
MEMBERS IN
THE ACTIVE
SERVICE
CONTRACTS OF SURETYSHIP,
WHERE GSIS AS SURETY,
GUARANTEES THE
PERFORMANCE BY ANOTHER
PARTY, THE PRINCIPAL (OR
OBLIGOR), OF AN
OBLIGATION OR
UNDERTAKING IN FAVOR OF
THE GOVERNMENT AS THE
OBLIGEE. GSIS ISSUES
DIFFERENT TYPES OF BONDS
SUCH AS BIDDERS BOND,
PERFORMANCE BOND,
SURETY BOND, HAULERS
BOND AND CUSTOMS BOND.
GSIS INSURES ALL GOVERNMENT
CARGOES IN TRANSIT EITHER BY
LAND (INCLUDING DOCK
STORAGE), SEA AND AIR
AGAINST LOSS OR DAMAGE
RESULTING FROM HEAVY
WEATHER, FIRE, LIGHTNING,
EXPLOSION, GROUNDING,
STRANDING, COLLISION,
MACHINERY DAMAGE, RANGING,
PIRACY, BARRATRY, SUE AND
MARINE CARGO LABOR.
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19.2 TERMINATION VALUE. THE POLICY EARNS
A TERMINATION VALUE DURING THE LIFE OF
THE
POLICY COMPUTED FROM THE PERCENTAGE OF
LIFE INSURANCE PREMIUMS ACTUALLY
REMITTED
AND PAID TO GSIS.
19.3 CASH DIVIDEND. A POLICYHOLDER IS
ENTITLED TO DIVIDENDS, SUBJECT TO THE
GUIDELINES
AS APPROVED BY THE GSIS BOARD. THIS IS
NOT A GUARANTEED BENEFIT.
SECTION 20 RETIREMENT
BENEFITS.
UNDER THIS ACT, THE
RETIREMENT BENEFIT
CONSISTS OF A MONTHLY
PENSION WHICH IS COMPUTED
BASED ON YEARS OF
CREDITABLE SERVICE AND
AMC FOR THE LAST 3 YEARS.
20.1 ELIGIBILITY
20.1.1 HAS RENDERED AT LEAST FIFTEEN (15)
YEARS OF SERVICE;
20.1.2 IS AT LEAST SIXTY (60) YEARS OF AGE;
AND
20.1.3 IS NOT RECEIVING A MONTHLY
PENSION BENEFIT FROM PERMANENT TOTAL
DISABILITY.
20.2 RETIREMENT BENEFIT OPTIONS. A RETIRING
MEMBER HAS THE FOLLOWING OPTIONS: