REMITTING AGENCIES that remain suspended from availing programs from state-run Government Services Insurance System (GSIS) dropped by more than half in the first semester of 2014 from 2010 as more offices utilized a reconciliation package with the pension fund.
GSIS President and General Manager Robert G. Vergara said on Wednesday that suspended remitting agencies went down to 124 as of June 30 this year from as much as 315 in 2010.
Around 80 of this end-June total are agencies from the Autonomous Region in Muslim Mindanao (ARMM).
“What we’ve done is we’ve passed a policy in 2013 which encourages all these agencies to come to the GSIS, do a reconciliation, and even if they don’t sign up for an actual payment plan, just the fact that they reconciled for us, we just agree [that] okay, you owe us this [much] and let’s talk about when you (need to) settle this later on,” Mr. Vergara said in a press briefing.
“We will unsuspend [sic] the agencies so that the benefit of the GSIS loans and dividends can be extended to the members,” he added.
At least 82 agencies, he said, have submitted themselves for reconciliation.
Loan privileges of a GSIS member are suspended if his agency fails to remit within three months upon receipt of final collection notice due to arrears in payment of compulsory premiums.
GSIS collects premiums from around 7,000 government agencies.
“By and large, most agencies are remitting the right amount,” he said.
GSIS saw its net income rise in the first semester on the back of higher returns from its investments, the pension fund’s top official said Wednesday.
The pension fund profited P41 billion in the half, 24% higher than the P33 billion booked in the first six months of 2013.
Its total revenues reached P83 billion in the period, 24% higher than the P67 billion recorded the year previous.
Its total resources also reached P871 billion in the first half of 2014, rising by P85 billion from the same period last year. — M.F.E. Flores, BUsinessworld
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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