The Government Service Insurance System’s (GSIS) Board of Trustees has approved the increase of the cap in the grant of survivorship pension.
GSIS President and General Manager Robert Vergara said the previous maximum amount of survivorship pension is 50 percent of the Step 1 salary level under the Salary Standardization Law.
He, however, said the new rule places the cap at 50 percent of Step 8 salary level, which is the level being received by an undersecretary and amounts to slightly over P30,000.
He said they approved the cap to half of what is being received by those in the rank of undersecretary because “this is the highest career position in government.â€
Relatively, the GSIS chief said retired government employees whose pensions were suspended under the old policy will receive the accrued amounts equivalent to the period of suspension. =pna
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