GSIS explains fewer claims, loans

GSIS explains fewer claims, loans

Inquirer
Last updated 00:26am (Mla time) 09/06/2007

We would like to thank Solita Monsod for bringing to our attention several issues about the Government Service Insurance System (GSIS). We have also communicated with Ernest Federiso of Iloilo so that we could act on his 19-item list concerning the GSIS which unfortunately was only brought to our attention through Monsod’s column.

 

However, permit us to explain the decline in the number of transactions in GSIS claims and loans. It is true that the number of transactions decreased from 5 million in 2004 to 4.6 million in 2005, and 3.6 million in 2006. There is a fairly simple explanation for this: In 2004, the GSIS offered two new loan programs, the Cash Advance and the Summer One-Month Salary Loan (SOS). In 2006, the GSIS offered an improved loan package called the Conso-Loan. This loan program consolidated three types of loans, the Emergency Loan Assistance, SOS and the Salary Loan.

 

The Conso-Loan extends the term of the loan to a maximum of six years. It also provides higher loan proceeds for members. More importantly, the Conso-Loan condones all the penalties and surcharges that availing members have incurred from unpaid loans. Simply put, several loan programs were consolidated into one in 2006, thus, the decline in the number of transactions.

 

We also appreciate the fact that Monsod agrees with the eCard Plus concept. We believe that the eCard not only promotes efficiency in the disbursement of claims and benefits but also protects our members and pensioners from fraud and such cases.

 

We hope that we have enlightened Monsod on some of the issues raised in her column.

 

ELLA E. VALENCERINA, vice president, Public Affairs Office, Government Service Insurance System, Pasay City

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