MANILA, Philippines - The Government Service Insurance System (GSIS) is open to proposals to provide pension benefits to the estimated 700,000 barangay officials and workers, provided they contribute to the pension fund.
“There’s no problem as long as it’s funded. It has to come from contributions,†GSIS general manager Robert Vergara said when asked about the agency’s stand on bills seeking the inclusion of barangay officials in the GSIS pension program.
“It would be unfair if the assets of the GSIS would be used to service benefits of some retirees who have not contributed,†Vergara said.
Sen. Franklin Drilon and Bayan Muna Reps. Teddy Casiño and Neri Colmenares filed separate bills seeking to expand GSIS coverage to include barangay chairmen, council members, Sanggunian Kabataan head and barangay secretaries and treasurers.
Under Drilon’s bill, the compensation, honoraria and other emoluments being received by barangay officials should be the basis in computing their contributions to GSIS.
Drilon said the allowances and benefits given barangay leaders are not commensurate to the quality of service and assistance they are extending to their respective communities.
Drilon said GSIS coverage will also give barangay officials the opportunity to avail themselves of housing, salary, education and calamity loans, among other benefits.
The GSIS released P27.5 billion in loans to 1.3 million members and pensioners last year. The amount included P7.2 billion in emergency loans and P2.5 billion in educational assistance.
It also paid P930 million in dividends to 1.4 million members, 14 percent higher than the 2011 figure.