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
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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