Government Service Insurance System (Philippines)
Encyclopedia
The Government Service Insurance System (Filipino
: Paseguruhan ng mga Naglilingkod sa Pamahalaan, GSIS) is a government-owned and -controlled corporation (GOCC) in the Republic of the Philippines
. Created by Commonwealth Act No. 186 passed on November 14, 1936, the GSIS is mandated to provide and administer the following social security benefits for government employees: compulsory life insurance, optional life insurance
, retirement benefits, disability benefits for work-related contingencies and death benefits. In addition, the GSIS is entrusted with the administration of the General Insurance Fund by virtue of RA656 of the Property Insurance Law. It provides insurance coverage to assets and properties which have government insurable interests.
Active GSIS members are entitled to the following loan privileges: salary, policy, emergency and housing loans.
The GSIS workforce consists of 3,104 employees, 52% of whom are in the Head Office while the remaining 48% are in the Branches. To date, there are 40 branches and 78 satellite offices nationwide. It is envisioned that the System's service network will continue to increase as the institution is committed to provide branch offices in every province where there exists a minimum of 15,000 active members.
Filipino language
This move has drawn much criticism from other regional groups.In 1987, a new constitution introduced many provisions for the language.Article XIV, Section 6, omits any mention of Tagalog as the basis for Filipino, and states that:...
: Paseguruhan ng mga Naglilingkod sa Pamahalaan, GSIS) is a government-owned and -controlled corporation (GOCC) in the Republic of the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
. Created by Commonwealth Act No. 186 passed on November 14, 1936, the GSIS is mandated to provide and administer the following social security benefits for government employees: compulsory life insurance, optional life insurance
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
, retirement benefits, disability benefits for work-related contingencies and death benefits. In addition, the GSIS is entrusted with the administration of the General Insurance Fund by virtue of RA656 of the Property Insurance Law. It provides insurance coverage to assets and properties which have government insurable interests.
Coverage
The GSIS covers all government workers irrespective of their employment status, except employees who have separate retirement schemes under special laws, to wit:- Members of the Judiciary and Constitutional Commissions
- Contractual employees who have no employee-employer relationship with their agencies
- Uniformed members of the Armed Forces of the Philippines, and the Philippine National Police, including the Bureau of Jail Management and Penology, and the Bureau of Fire Protection.
Benefits and services
The principal benefit package of the GSIS consists of compulsory and optional life insurance, retirement, separation and employee's compensation.Active GSIS members are entitled to the following loan privileges: salary, policy, emergency and housing loans.
Organizational structure
The governing and policy-making body of the GSIS is the Board of Trustees, the members of which are appointed by the President of the Philippines.The GSIS workforce consists of 3,104 employees, 52% of whom are in the Head Office while the remaining 48% are in the Branches. To date, there are 40 branches and 78 satellite offices nationwide. It is envisioned that the System's service network will continue to increase as the institution is committed to provide branch offices in every province where there exists a minimum of 15,000 active members.