QuestionsQuestions (GSIS Resolution NO. 177)
It approves the grant of a 2.0% increase to Old-age/Retirement/Disability pensioners, based on the 2005 level, effective January 1, 2008 and every year thereafter, until the GSIS Board reviews the grant for certain reasons.
Pensioners under R.A. 8291, P.D. 1146, and R.A. 660 who are receiving their regular monthly pensions, are still qualified to their corresponding pensions, and are living as of January 1, 2008—specifically old-age/retirement (including joint-life retirees) and disability pensioners.
Basic survivorship and dependent pensioners, joint-life beneficiaries, retirees who received guaranteed pensions in advance as lump sums during their guaranteed period (subject to later eligibility), new retirees of 2006–2008 under the 18-times lump sum + immediate monthly pension scheme (subject to a 5-year regular pension requirement), separated members starting monthly pensions in 2007–2008 under the 18-times separation benefit scheme (also subject to 5 years as regular pensioners), and pensioners under R.A. 7699 receiving regular pro-rata pensions (including premium-based policy pro-rata pensions).
Because the resolution’s guidelines expressly state that basic survivorship and dependent pensioners are not entitled to the pension adjustment.
Joint-life beneficiaries are not entitled to the increase under the guidelines, even though old-age/retirement pensioners including joint-life retirees are generally included in the entitled category.
They are not entitled to pension increases while they are still in their guaranteed period. They become entitled only after resuming their regular monthly pensions. If they resume within calendar year 2008, they are entitled only to increases granted after 2008.
They shall only be entitled to pension increases granted if they have been regular pensioners for at least five (5) years.
They shall only be entitled to pension increases granted if they have been regular pensioners for at least five (5) years.
No. The resolution states that pensioners under R.A. 7699 receiving regular pro-rata pensions, including those receiving pro-rata pensions under the Premium-Based Policy, are not entitled to the pension adjustment.
The increase is 2.0% based on the 2005 level.
The minimum pension is P2,500.00, as stated under the “Amount of Increase” table.
No. The resolution states that the minimum pension does not apply to pro-rata pension of pensioners under R.A. 7699 and R.A. 8291 as a result of the Premium-Based Policy.
It states additional monthly cash outlay of P19.49M, additional annual cash outlay of P233.83M, and additional reserve requirement of P1.369.31M.
The resolution states the resulting average monthly pensions as P7,876.75 for Old-age/Retirement/Disability.
It notes that granting a 2.0% increase based on the 2005 level would result in an increase in the actuarial life of at least 10 years.
It is effective January 1, 2008 and every year thereafter until the Board reviews the grant for certain reasons.
It makes living status as of that specific date a condition for entitlement to the pension adjustment; those not living as of January 1, 2008 are not covered by the entitlement rule stated in the guidelines.