Proportionate pension revived | Inquirer Opinion
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Proportionate pension revived

/ 03:27 AM April 16, 2012

This refers to Pedro A. Oco Jr.’s letter regarding his objection to the nonpayment of proportionate amount of pension. (Inquirer, 4/2/12)

We called Oco to inform him that the new leadership of the Government Service Insurance System has already amended this policy and has revived the payment of proportionate pension beginning December 2011 to ensure that pensioners are accorded the benefits due them. GSIS pension is now computed proportionately based on the actual date of retirement, unlike before when pension was paid a month after the date of retirement or after the lapse of the guaranteed period of the lump sum benefit.

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Accordingly, we wrote our pensioners to inform them on this new policy. We are keeping Oco posted on the progress of the processing of the proportionate amount of pension that he will receive.

Oco’s other concern regarding the policy on the varying amounts of cash gift that pensioners receive during Christmas is one of the subjects of an ongoing review being undertaken by the Board of Trustees. Oco and the rest of our pensioners can rest assured that any change in our policies governing our pension program will be communicated to them for their information.

FEATURED STORIES

—ROBERT G. VERGARA,

president and general manager,

Government Service

Insurance System

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TAGS: Government Service Insurance System, GSIS, Pedro A. Oco, pension, pensioners
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