QuestionsQuestions (GSIS Resolution NO. 47)
A regular member is one who, together with the government agency where employed, remits both life insurance and retirement premium contributions. A special member is one covered by the Constitution or a special law/Charter under a separate retirement scheme funded by the agency or the National Treasury, and thus required to remit life insurance premiums only.
Coverage is determined by DBM-recognized designations/positions under special retirement laws other than RA 8291; alternatively, an employee becomes a special member if the employee’s agency is covered by a separate retirement law with appropriated funds recognized by DBM such that the agency is not required to remit regular monthly contributions to GSIS for their retirement benefits.
Regular membership ends on the day immediately preceding the reclassification to special. Special membership begins on the date of effectivity of the applicable law, the member’s transfer to an agency with the separate retirement package, or the appointment to a position covered by a separate pension scheme; this is operationalized through issuance of a new life insurance policy under CA 186.
Below 30: endowment at 45; 30 to below 40: endowment at 55; 40 to below 65: endowment at 65; 65 and above: endowment at 70.
Only life insurance premiums are remitted: three percent (3%) of BMS for the personal share and three percent (3%) of BMS for the government share.
No. Reclassification alone does not automatically entitle the member to separation benefits under Section 11 or retirement benefits under Sections 13 and 13-A of RA 8291; entitlement is tied to actual separation from government service.
If, during regular membership, the member met requirements under a GSIS-administered retirement scheme (RA 8291, PD 1146, RA 660, or RA 1616), the member is entitled to the retirement benefits upon actual separation. However, a retiree cannot receive double retirement/separation benefits for the same period of service.
If YOS is less than 15 years: cash benefit equal to PPP (period with premium payments) multiplied by AMC during the last three years immediately preceding cessation, payable at age 60. If YOS is at least 15 years and member is not yet 60: cash payment equivalent to 18 times BMP payable immediately plus an old-age pension at age 60 (Section 11(b)).
Claims are processed subject to filing of the claim application, and the benefit is payable based on premiums/period of service during regular membership but only upon actual separation from government service.
Special members may avail of certain loan privileges, including ConsoLoan and policy loans. ConsoLoan is available only if the member’s agency/ies executed a special agreement with GSIS, and the loanable amount may be up to 10 months of computed monthly salary.
The salary basis is the amount of salary derived from the posted life insurance premium payments.
No. While other Consoloan program terms still apply, housing loan arrearages shall no longer be deducted from the loan or loan renewals for special members under these guidelines.
Special members may avail of policy loans on their compulsory life insurance policies issued after termination of regular membership and on optional policies, subject to the policy loan terms. If the special member previously availed loans during regular membership, all loan balances are deducted from the CSV/TV or maturity value, whichever comes first; if there is a negative balance or deficiency, collection follows the due-and-demandable loan account guidelines.
Loans of special members (except housing loans) may be pre-terminated by paying the outstanding balance before end of term. The loan agreement is also deemed pre-terminated upon death, resignation, permanent disability, retirement, or separation from service; the unpaid principal plus unpaid interest immediately prior to the event becomes due and demandable.
Since special members are not covered by CLASP, the operating unit must initiate: (1) automatic deduction of due and demandable amounts from proceeds of future loan availments, future GSIS benefits (retirement/separation/disability/funeral), and benefits payable by the agency; (2) application of redemption insurance (if death occurs and redemption insurance is in force); and (3) other administrative or civil actions.
An account is considered in default if there are more than six (6) months unpaid monthly amortization, after which it is handled according to existing default-account policies and procedures.
At the end of the loan term, any overpayment is treated according to the GSIS policies on refund of excess loan payments. GSIS may recover amounts credited in the UMID eCard account due to fraud, misrepresentation, or error on any transaction with GSIS.
Claims for benefits, except life and retirement, prescribe after four (4) years from the date of contingency. For separation benefit claims under Section 11(a) and 11(b), the reckoning date is actual separation date; for death-related claims, it is the date of death.