Must Read GSIS Advisory to members

Must Read GSIS Advisory to members

In response to the queries and complaints of members, pensioners and other claimants to Government Service Insurance System (GSIS), the agency has provided the following reminders through an advisory posted in their Facebook Official Page on February 7.

Here's the full text of the said advisory from the insurance agency:
"All GSIS members are reminded to keep loan accounts up-to-date to help prevent the adverse effects of unpaid obligations to future social insurance benefits."

"If loans go unchecked for a long period, outstanding balances will incur additional charges. Loan obligations, including interests and penalties, will be deducted from the proceeds of claims such as life insurance, retirement, separation, funeral, or survivorship benefits."

READ: Status Update on the Grant of PBB FY 2018

"Moreover, loans that have been left unpaid for more than six (6) months are no longer covered by loan redemption insurance. Overdue amounts at the time of a member’s death will also be deducted from benefits due the beneficiaries."

"GSIS remains steadfast in advocating responsible borrowing to ensure the pension fund’s viability, as well as protect members’ or beneficiaries’ benefits."

SOURCE: GSIS Facebook Page

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