GSIS pension increase won't affect contributions, fund life: GSIS president


Posted at Jan 31 2019 12:00 PM

Watch also in iWant or

MANILA - The fund life of the Government Service Insurance System (GSIS) will not be affected by the planned pension increase next month, the agency's president said Thursday.

Retired government employees and persons with disabilities under the GSIS would receive an additional P1,000 starting late February or early March, the agency announced earlier.

"There would be no additional contributions. Pinag-aralan namin ito (We studied this). It will not even affect our fund life," GSIS President Jesus Clint Aranas said in an interview on DZMM's Failon Ngayon.
The agency's fund life as of January 2019 "stands at 35 years," he said.

Aranas, however, said he was against a proposal to pull down the mandatory retirement age of government workers to 56.

If that measure is passed, the fund would either be depleted or the GSIS would have to increase member contributions, he said.