Types of GSIS Members:

Active Members government employees at present who are working in any

government agency or government office

Old Age Pensioners these are retired government employees or officials who

are already receiving pension from GSIS

Survivorship Pensioners these are beneficiaries or dependents of deceased

GSIS member or old age pensioner (example: spouse of a deceased pensioner or

member, minor child of the deceased)
GSIS Insurance Benefits:

As a member of GSIS maybe youre wondering what are those stuff such as policy and
insurance coverage. There is a reason why you are paying premiums, its because you
are paying for insurance. With insurance, you or your eligible beneficiaries will be getting
benefits. The following are the main types of life insurance benefits you will get from the
GSIS:
Enhanced Life Policy (ELP) is an enhanced life insurance coverage that gives

death benefits to the members family or beneficiaries and cash in the form of
termination value which you can withdraw upon retirement or separation of
service. In a nutshell, with ELP youll get Cash Termination Value + death
benefits + policy loan + dividends if any. If you entered the government service
after July 31, 2003, you are automatically covered with this policy. Members with
the old policy called LEP (see below) can also opt for ELP according to GSIS.

Life Endowment Policy (LEP) this is known as the old insurance policy
offered to members who entered the government service before August 1, 2003.
This insurance policy will give maturity benefit + cash surrender value + death
benefit + policy loan + dividends if any. If you are under LEP, you can also
convert your policy into ELP according to GSIS approval.

GSIS Retirement Benefits:

Maybe youre wondering too why you are being deducted every month for your GSIS. It
is like investing every month. Your GSIS contributions will accumulate and appreciate in
value that is why you are receiving dividends when the board made them available
depending on the revenue the whole GSIS has earned. You will also be entitled to
retirement or pension benefits in the future. The following are the types of retirement
plans offered to GSIS members:

Retirement under RA 8291 (5 year lump sum cash payment or instant

pension + monthly pension for life) this is the most common type of
retirement plan and pension chosen by many government retirees in the
Philippines because you will get a lump sum amount of money and monthly
pension for life. It has 2 options when you avail. To qualify for this retirement plan,
you must have rendered at least 15 years of service and must be at least 60 years
old upon retirement. Your last 3 years of service must also be continuous.

Retirement under RA 660 a.k.a. Magic 87 (annuity + lifetime pension) if

your age + years of service = 87, then you can avail of this retirement plan. It
offers 3 options: automatic pension, initial 3-year lump sum and 5-year lump sum.

Retirement under RA 1616 (refund all your GSIS premiums + gratuity

payment from employer) under this option, you must have rendered at least 20
years of service regardless of age and employment status

Portability Law RA 7699 (Combine your GSIS + SSS CYS) you have the
option to combine both your GSIS and SSS creditable years of service to qualify
for retirement programs offered by both pension funds

Retirement under Presidential Decree 1146 (Basic monthly Pension or Cash

Payment) this retirement plan is for those who have been working in the
government after May 31, 1977 but before June 24, 1997. You have the option if
you want to receive pension every month and cash payment.

GSIS Survivorship Benefits:

These are cash and/or pension benefits provided for the surviving legal spouse (as long
as he/she doesnt remarry), dependent minor children, or incapacitated beneficiary,
when a member or a pensioner dies.

GSIS Loans Benefits:

Members of the GSIS also have available loans benefits. However, loans are still loans
so I dont suggest anyone to avail them unless they really need it badly. Loans bear
interests payables. Focus on income bearing investments, not loans.

Consolidated Loan is also known as Conso-Loan. It is a consolidation of 5

loans into 1 Salary Loan, Restructured Salary Loan, Enhanced Salary Loan,
Emergency Loan Assistance, and Summer One-month Salary Loan. This type of
loan is payable in 6 years. It is so easy to apply for this loan, just place your GSIS
eCard Plus in the G-W@ps Kiosk and follow through the screen. How much can
you avail in this loan? It depends upon your RCS (Record of creditable Service).
Check out the data below:

Policy Loan since every member in the GSIS is covered with life insurance
policy automatically, you also have this policy loan benefit. You can apply for this
loan if you have been insured at least one year provided you have updated
premium payments and has an active policy. Whats the catch? It bears
compounded 8% interest per annum.

Emergency Loan this kind of loan is so special because not everyone can
avail of this. You have to be a resident of a declared calamity area before you can
avail emergency loan. Your place must be declared under State of Calamity by
the city council and approved by the GSIS Board of Trustees.

GSIS Burial Benefit:

Burial benefits are funeral benefits given to GSIS retirees survivors or any person who
shouldered the funeral expenses of the deceased GSIS member.

GSIS Disability Benefits:

These are benefits resulting from disability or incapacity to work because of physical or
mental injury, impairment or disease. GSIS assigns medical evaluator for members who
avail disability benefits.
GSIS EC Benefits:
It is also known as Employees Compensation benefit. It is another disability benefit
provided for public and private sector workers and their dependents in the event of workrelated injury, sickness, disability or death.
Housing:
Their acquired assets are available for cash basis and as is where is policy for
interested members
General Insurance:
GSIS also offers very cheap insurance products such as personal accident insurance
coverage, fire, comprehensive insurance for vehicles, and other traditional insurance
products like aviation, bonds, property floater, marine cargo and marine haul.
GSIS Scholarship:
The Government Service Insurance System also offers scholarship program every
academic year for children of low-income GSIS members. The selected qualified
scholars will receive up to P 200,000 tuition and miscellaneous fees per semester plus
monthly allowance of P2000.
There you have them folks. I hope you have learned about your benefits and I hope
youre happy about them. I give my cheers and kudos to all government employees for
their terrific service! You deserve all the best in the world.