PH Teachers To Enjoy More GSIS Benefits

After their delinquent Government Service Insurance System (GSIS) monthly contributions be written off, the PH teachers, who are active and retired will enjoy more monetary benefits from GSIS as disclosed  by GSIS President and General Manager Robert Vergara.

DBM, GSIS, DepED, government agencies

This laudable gesture of the PH government states that P14 billion interest charges from more than P6 billion for GSIS unpaid of teachers' contributions as government share in the past 13 years will be condoned by the GSIS in a recent "historic agreement."

The three government agencies like the Department of Budget and Management (DBM), the GSIS, and the DepED  were respectively represented by Budget Secretary Florencio Abad, Education Secretary Armin Luistro and GSIS president and general manager Robert Vergara signed this agreement in Malacañang in the presence of President NoyNoy Aquino.

This memorable event took place as a part of the celebration of National Teachers' month which has kicked off September 5 to October 5, 2012.

Signing of Memorandum of Agreement (MoA)
(Photo by: Gil Nartea / Malacañang Photo Bureau)
Source: president.gov.ph

Incoming Teachers Benefits

These benefits may include higher loanable values (net monthly salary) for teachers in the active service and increased retirement benefits for the retirees.

Public school teachers who are in the service from 1997 to 2010 with delinquent GSIS premium payments due to non-remittance ought to be happy about this latest development on settling this GSIS payment mess.

According to this agreement, the Department of Budget and Management (DBM) will pay in advance the P3.46 billion or 50 percent of P6.9 billion Department of Education (DepEd) premium arrears in GSIS.

Not only active teachers could benefit from this, but also retired DepEd personnel. Their pensions will be adjusted and they will receive a refund due to them.

Culprit of GSIS Share Anomaly

GSIS Chairman Daniel Lacson informed in a Palace press conference that they will investigate the reasons "behind the non-remittance of contributions to GSIS by the DepEd and some government agencies."

Since time immemorial, it has been duly noted that GSIS premiums were deducted and collected from the teachers' monthly salary, but they were not remitted to GSIS on time or not at all.

It was also pointed out not only in the DepEd, but there were also non-remittance of contributions, ranging from P4 billion to P5 billion from other government agencies.

Who are these culprits? Soon they will be unearthed!

This is really a welcome gesture and commendable achievement in PNoy administration.

Good job!

By the way, other present at the signing of this agreement were Teachers’ Dignity Coalition chairman Benjo Basas, Philippine Public School Teachers Association (PPSTA) president Mario Ramirez, DepEd-NEU national president Atty. Domingo Alidon and Manila Public School Teachers Association (MPSTA) president Benjamin Valbuena.

Who else are going to take credit for this?