Cebu City (February 16) -- In order to fulfill its obligations to 1.3 million members nationwide, the Government Service Insurance System (GSIS) is fast-tracking the updating of all individual-member records.

GSIS Senior Vice President for Membership Roberto Agustin who was recently in Cebu bared their present priority focus is "updating the records of members as it appears in our database."

GSIS is closely coordinating with government agencies since respective agencies must also update the record of their employees. Service records per employee must match the same information as that of the GSIS, this is learned.

Apart from service records, other records that must likewise be updated are loans and pensioner's record, Agustin said.

The GSIS official did not specify a timeframe of when they will be able to finish updating their members' records but that it is a primary task.

Sustainability of the fund is their main concern as the GSIS warned against those agencies that are negligent of their loan payments as well as the non-remittance of employer's share, Agustin further added.

Agustin said the GSIS as a state pension fund has the mandate to protect the funds of its members and to provide needed benefits as what is stated under the law. Aside from pension benefits during retirement, GSIS also provides various loans like consolidated and emergency and other benefits like in times of sickness, disability and death.

The state pension fund also provides loans in times of disaster with a maximum of P20T but that the area where the member resides must be certified as a disaster-stricken area in order to avail of the loan.

Transparency of members records is an important objective as members are urged to view their records via the various kiosks, internet or simply visiting the nearest GSIS office in one's area, this is said.

Agustin advised agencies to remit the loan payments of their members on time as well as employer's share as failure to do so will be slapped with corresponding penalties. Loan privileges will also be suspended.

The GSIS is also willing to settle with those agencies that have been very delayed in their payments wherein a memorandum of agreement will be signed by both parties on the time period to settle their obligations, this is declared.

Agencies that still refused to pay their obligations even if they were sufficiently notified will be filed with criminal cases directed towards the treasurer or budget officer of the respective agency, Agustin stressed.