FUND OWNERS ASSAIL GSIS FOR SURVIVORSHIP PENSION TERMINATION

Submitted by courage_phil on Wed, 02/24/2010 - 01:38.

QUEZON CITY – The Confederation
for Unity, Recognition and Advancement of Government Employees (COURAGE) today
led a nationally-coordinated protest action against the inefficiencies of the
Government Service Insurance System (GSIS), its Board of Trustees’ downright
abuse of power and the misuse of the hard-earned contributions of the almost
1.5 million GSIS members. Various forms of protest ranging from noise barrages
to rallies were conducted by government employees and other fund owners in Quezon
City, Manila, Laguna, Pampanga, Iloilo, Davao and Cagayan de Oro City.

 

In a picket held in front of the
GSIS office in Quezon City, GSIS members expressed their outrage over news that
the State Pension Fund plans to fully terminate this March the release of survivorship
benefits to spouses who are gainfully employed or have other sources of income.
Under the GSIS Act of 1997 or RA 8291, the dependent spouse is guaranteed to
receive the survivorship pension for life until he/she remarries. In 2002, the
GSIS under the leadership of Winston Garcia restricted the granting of survivorship
pension to a maximum of five years.

 

COURAGE asserted that the GSIS
Board of Trustees cannot simply dictate the five-year limit nor abruptly
implement a new set of qualifications for survivorship pensioners. Courage National
President Ferdinand Gaite scored the double standard of the GSIS which has
prejudiced the members’ interests. “While the GSIS has remained strict on its
members’ obligations, it is undoubtedly lenient towards businesses and private
companies who are indebted to the fund through the unpaid behest loans and questionable
investments. Even the national government is guilty of non-remittances and
unpaid premiums. But instead of going after them which has bled the GSIS dry,
the management is squeezing its members.”

 

Gaite added that the survivorship
pension which normally amounts to half of a month’s pension is a pittance
compared to the losses incurred in the failed investments both here and abroad.
He stressed that even if a dependent spouse may have other sources of income,
these may not be enough to afford the family a decent life with the rising cost
of living. “The GSIS has made a mockery of the GSIS Act which clearly mandates
the GSIS to make policies and services that will help its members. Amendments to
the law can only be implemented if approved by the Congress of the Philippines.
But the GSIS Board of Trustees has clearly abused its power. Akala ba nina Garcia at ng kanyang mga
kasamahan ay sarili nilang republika ang GSIS para gawin nila ang gusto nila ng
ganoon na lamang?” Gaite commented.

 

Irate fund owners reported that
the State Pension Fund’s services have become more inefficient and cases of
misuse of their funds have reached an alarming level when Garcia took office at
the GSIS. Among the complaints are the delayed posting of premiums and loan
payments, erroneous charges, meager benefits and slow processing of claims and loans.
“Because of these inconveniences, members are discouraged to avail of loans
from the GSIS. What angers us more is that, instead of addressing our
legitimate concerns, the GSIS either brushes aside these complaints by pointing
fingers to somebody or files legal charges against people who take up the
cudgels for the fund owners,” Gaite expressed.

 

The militant group also warned
the government against using the workers’ funds to finance the administration’s
electoral campaign. Gaite surmised that that the GSIS is depriving the members
of their much needed loans and benefits because Garcia and Mrs. Arroyo are conspiring
to divert the funds to purposes other than what they are really intended for. “To
them, the GSIS is a lucrative enterprise. They have relentlessly dipped into
our funds in the guise of questionable ventures such as the Global Investment
Program and the Economic Stimulus Fund. We won’t be surprised if they are
deliberately messing up with our records to cover their anomalous deals. After
all, they can always resort to their convenient ‘computerization’ or ‘systems
breakdown’ excuse,” the leader explained.

 

COURAGE urged the contenders for
the 2010 elections to assure the GSIS members that they will hold the present
administration criminally liable for the malpractices within the state pension
fund. “We have actively participated in several Committee hearings for the past
congressional sessions. The most recent house resolution, aimed at
investigating the GSIS, was filed by Representatives Liza Maza and Satur
Ocampo. Sadly, majority of the lawmakers were actually defending Garcia,” Gaite
ended #