Question & AnswerQ&A (Republic Act No. 1573)
It excludes all bonuses, per diems, allowances, overtime pay, or any salary, pay, or compensation given in addition to the base pay of the position or rank as fixed by law or regulations.
All regularly and permanently appointed employees including judges of the Courts of First Instance, those with tenure of office fixed or limited by law, all teachers except substitutes, and all regular officers and enlisted men of the Armed Forces of the Philippines.
An employee not falling under compulsory membership or excluded by law may opt for membership by notifying the System in writing, complying with the System’s requirements, and being in government service when insurance takes effect.
For life insurance, both the employee and the employer pay 3% of monthly salary each. For retirement insurance, if the monthly salary is P200 or less: employee 4%, employer 6%. If above P200, both pay 5%, with the premium capped at P37.50 per month.
No, they are excluded from retirement insurance benefits and premiums are not required for them.
Completion of 30 years of total service and attainment of age 57 years; last 3 years of service must be continuous; a minimum of 5 years contributions; with some flexibility for younger ages or shorter service based on compensations.
A life annuity guaranteed for 5 years and thereafter for life; options to choose among different types of annuities including joint-life annuity, lump sum payments under certain conditions, or other benefits approved by the System.
They may be fined up to P1,000, imprisoned for up to 1 year, or both, and disqualified from holding public office or practicing any government-licensed profession or calling.
The employee loses all rights relating to service credited prior to that date under the Act, unless an extension is granted by the Board of Trustees.
The Board invests funds not needed for current payments in first liens on real estate, loans to local governments for self-liquidating projects, loans to the government for permanent toll bridges and other projects, and other securities authorized by insurance laws.