GSIS is a government-owned and controlled corporation that provides social security services to all government employees, including pension, health, and life insurance coverage. It is one of the largest social security institutions in the Philippines.
Apart from other beneficial financial security programs by the Philippine government, there is this insurance system intended for a specific group of people. There is a social insurance institution in the Philippines that is intended for the employees of the government, and it is GSIS. The GSIS or Government Service Insurance System is an insurance institution that only serves the employees of the Philippine government.
It is primarily responsible for distributing and administering pension funds to members and their heirs, such as life insurance, retirement benefits, disability compensation for work-related injuries, and death benefits. Just like SSS and other government agencies, they also give their members a chance to get cash loans.
What is the meaning of GSIS?
GSIS is an acronym for Government Service Insurance System.
Purpose of GSIS
The Government Service Insurance System is fully owned by the Philippine government and controlled organization (GOCC). GSIS is a social insurance institution formed to provide a defined benefit program under the law. In exchange for the GSIS member’s monthly premium contributions. Just like any other insurance plan, it insures its members against the occurrence of specific events.
GSIS gives its members a variety of social security benefits, including life insurance, separation or retirement payments, and disability benefits.
About this Agency
Employees in the public sector are covered by the Government Service Insurance System (GSIS). It formally began operations in 1937, with a life insurance scheme as its sole intention. It was expanded in 1951 to become a more comprehensive social insurance plan, with the addition of old-age, invalidity, disability, and pension benefits. Republic Act (RA) 8291, often known as the Government Service Insurance Act of 1997, was a landmark piece of legislation that enhanced and improved the GSIS-managed social security program for government employees.
GSIS also oversees the Employees’ Compensation Program, which offers work-related social security payments to the public sector, as well as the General Insurance Fund, which provides non-life coverage for all properties with government insurable interest.
Membership is required for all government employees receiving compensation, regardless of employment status, who have not reached the mandatory retirement age of 65 at the time of election or appointment to government service.
GSIS did not include in its coverage the uniformed personnel of the Armed Forces of the Philippines, the Philippine National Police, the Bureau of Jail Management and Penology, and the Bureau of Fire Protection; contractual, casual, and other employees with no employer-employee relationship; and Barangay and Sanggunian officials who do not receive fixed monthly compensation.
Functions and Responsibilities
- Identify and offer all government property and projects with appropriate risk assessments and insurance coverage through effective strategy and operational methods.
- Collect and demand all funds owed to the Government Insurance Fund when they become due.
- Resolve all justified claims carefully within the timelines and quality levels indicated
- Adopt the correct rates, terms and conditions, clauses, and guarantees on all tariff and non-tariff business at all times.
The GSIS Scholarship Program or GSP gets qualified college students who can avail of this educational assistance. These are children or dependents of GSIS members with the lowest income. The qualified students will get coverage of their tuition and other fees up to Php40,000 per academic year under GSP. Now that the new scholars have been doubled, this will enable more children and dependents of low-income GSIS members the opportunity to pursue a degree from quality colleges and universities. GSIS recorded almost 400 GSIS members who qualified for the said cash assistance, 40 of them are disabled people, indigenous, PTD seniors, and single parents.
Aside from GSP, they also have ASP and Support to Brigada Eskwela. ASP gives P200,000 to chosen public schools in the country’s poorest provinces or low-income municipalities to help them fulfill their needs. Aid is typically provided in the form of physical and technological assistance. This initiative has already benefited a total of 49 schools since 2014.
2. Environmental Care and Preservation
GSIS environmental care actions include “Planting Trees” and “Cleanup of the Coast.” The GSIS Green Program is the pension fund’s most basic contribution to society’s environmental activities. The GSIS National Greening Program Oversight Committee (NGPOC) was formed in 2012 to carry out the mandate of the NGP, which encourage the students and government employees to plant at least 10 seedlings each year in order to establish 1.5 billion trees in six years. Tree planting is the number one priority of the government for environmental preservation. Their goal is to take the country closer to a greener and healthier future.
Even the GSIS staff frequently volunteers to clear up debris and trash in the Manila Bay. The activity’s goal is to raise environmental awareness, promote recycling, and collect data for the creation of environmentally friendly packaging.
3. GSIS has Lectures of Special Interest and an Art Contest.
GSIS also invests in the growth of its own employees, through special interest lectures on themes such as financial management and health and wellness. In fact, GSIS Art Competition aims to provide a place for aspiring artists to be recognized. Since 2004, the competition has grown from recognizing three top entries in the Professional and Student Categories to recognizing first, second, and third prizes in the Representational, Nonrepresentational, and Sculpture Categories. To date, the competition has received up to 500 entries from across the country.
What is Ginhawa for All (GFAL)
GINHAWA FOR ALL (GFAL) is a government organization that addresses the needs and welfare of the people. GSIS takes care of those who serve the nation in the same way that the government does. The agency is a very consistent and dependable partner for all government employees. It ensures the employee’s well-being from the moment they enter the government service. It has served approximately 1.7 million employees and continues to protect and grow the fund.
GSIS goes a step further from its desire to be a more visible and trusted partner by accompanying personnel as they progress through their careers in government service. GSIS’s many perks, loans, and services are designed to bring relief or “ginhawa” to members, pensioners, and their family members.
GFAL members receive packages based on their membership classification.
GFAL Active: Package for active service members.
GFAL Plus: Package for former government employees and members’ dependents.
GFAL Grand: Package for retirees and their surviving spouses.
Each package is made up of several services that are made available to the market and ensures the well-being of government personnel. GSIS remain true to their saying “from womb to tomb” support.
Frequently Asked Questions
Here are some questions and answers about the GSIS government agency:
1. Who is qualified for GSIS membership?
Members of the Judiciary and Constitutional Commissions who are covered by separated retirement laws; Contractual employees who have no employee-employer relationship with their agencies; and Uniformed members of the Armed Forces of the Philippines and the Philippine National Police, including the Bureau of Jail Management and Penology and the Bureau of Fire Protection.
Except for the members of the judiciary and constitutional commissions who shall have life insurance, all members of the GSIS shall have life insurance, retirement, and all other social security protection provided under a mandate from the government.
2. Is GSIS membership compulsory?
Membership in the GSIS is mandatory for all government employees receiving compensation who have not reached the compulsory retirement age, regardless of employment status.
3. Are Barangay Officials covered by GSIS?
According to Section 8 3 of Republic Act No. 8291, all barangay officials must be members of the Government Service Insurance System. The GSIS shall create special provisions to enable the inclusion of ten barangay officials in its benefits package.
4. How much will I get after retirement?
Answer: There are two retirement packages that you can choose from as a member of GSIS.
- A five-year lump sum plus an old-age pension – Retirees can receive their five-year pension in advance under this option. The lump amount is equal to 60 months of the Basic Monthly Pension (BMP) payable at retirement. Retirees will begin receiving their monthly pension after five years.
- Cash payment and Basic Monthly Maintenance – This provides retirees with a cash payment equal to 18 times the Basic Monthly Pension (BMP) received at retirement, followed by a monthly pension for life payable immediately after retirement.
5. How much is the monthly contribution of GSIS?
Members shall pay using 3% of their monthly salary, while their employers will contribute 3% for their life insurance coverage.”
6. Does GSIS provide loans?
GSIS provides several loans to help members with their financial needs, this includes Consolidated loans, Policy loans, and Emergency Loans. Members and pensioners can apply for these loans using their GSIS eCard at GWAPS kiosks available at all GSIS branches, select government offices, and Robinsons Malls.
Though GSIS focuses on giving benefits to specific groups in the government, they also get involved with preserving nature and providing scholarship grants to their low-income members. In 2021, GSIS has a total of 2,463,059 members and pensioners.
GSIS’s total assets climbed by 8.06 percent, from Php1.32 trillion in December 2019 to Php1.43 trillion in 2020. This is a fact that the GSIS family is getting bigger each year, and so is the amount of benefits distributed too. Qualified government employees can enjoy a lot of perks until they stop work.
GSIS Main Office
Address: 2302 Roxas Blvd, Pasay, Metro Manila
Telephone Number: (02) 8461-0500 local 605
Facebook Page: https://facebook.com/gsis.ph