An Act Institutionalizing The Rights of Government Service Insurance System (GSIS) Members, Providing Them Additional Representation In The GSIS Board, Ensuring Prompt Payment Of All Their Benefits And For Other Purposes
- Amending certain provisions of R.A. No. 8291 by institutionalizing a Members’ Rights such as: a) Right to courteous and responsive service; b) Right to information; c) Right to GSIS benefits; d) Right to expeditious processing of claims, e) Right to be heard; and, f) Special Rights for the elderly.
- Agencies with delayed remittances shall be charged a monthly interest of not more than 2%.
- Lifting of the prescriptive period in claiming of benefits.
- Granting the Regional Trial Courts (RTCs) jurisdiction over disputes concerning claims and benefits.
- Limiting the amount of GSIS funds (not more than 5%) that can be invested in the foreign market.
- Providing additional representation for the members by including the Secretary of Education and Civil Service Commissioner as members of the GSIS Board.
- Retirement benefits shall be paid to the employee on his last day of service in the government: Provided, That all requirements are submitted within 60 days prior to retirement.
- GSIS shall be liable for a monthly penalty of not more than 2% interest for failure to dispense social insurance benefits within the required period.
- Inclusion of the PGM along with the members of the Board, as liable officers for failure to dispense social insurance benefits.
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