Retirees waiting for GSIS refund
Philippine Daily Inquirer
Please allow me to comment on the letter of Ella E. Valencerina, vice president for public affairs of the Government Service Insurance System (GSIS), on the need for GSIS to invest outside the Philippines. (Inquirer, 11/28/07) She said that the GSIS is mandated to invest the funds of the members to meet the requirements of safety, security, liquidity and yield.
May I ask: Is it not also imperative for the GSIS to look after the benefits of its members? I suppose Joint Memorandum Circular 2007-1, dated Jan. 2, 2007, of the Department of Budget Management and the GSIS has finally resolved the issue on the deficiency in the government’s counterpart contributions due the GSIS for the period from July 1997 to December 1998.
Because the DBM failed to remit to the GSIS these counterpart contributions, the latter made some deductions from the benefits of the retirees.
With the circular, the retirees are expecting a refund of the deducted amounts. It’s almost a year now, but I know that many retirees have not been reimbursed.
NORMA L. LIPANA, 532 Int. Quezon Boulevard, Quiapo, Manila
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