MANILA, Philippines - The national government has approved the release of P891.4 million for the payment of unpaid Government Service Insurance System (GSIS) premiums of public school teachers in the Autonomous Region in Muslim Mindanao.
Budget and Management Secretary Florencio Abad said the funds have been released for the arrears of 29,109 ARMM teachers, pursuant to the supplemental memorandum of agreement (MOA) among the agencies.
“We are beginning the process of settling all unpaid GSIS contributions of our teachers in the ARMM region. This latest fund release sets into motion the delivery of the full range of benefits offered by the GSIS to these employees,” he said.
The P891.4-million release is consistent with the agreed terms set by the MOA signed last June 11, which includes the payment of the amount within 30 days from the agreement’s signing.
The DBM will also release another P100 million within one year from the MOA signing to completely settle the teachers’ remaining unpaid GSIS premiums.
Of the P891.4 million, P543.9 million was sourced from the Retirement and Life Insurance Premiums and the remaining P347.5 million from the Miscellaneous Personnel Benefits Fund, both under the 2014 General Appropriations Act.
The supplemental MOA was a result of the tripartite agreement forged by the agencies in March 2004. The agreement formalized the assurance of the ARMM’s Education department to pay its obligations to GSIS within 15 years from the date of signing.