Presidential Communications Operations Office

  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Tuesday, 19 March 2019 News Before 1 Feb 2012. Click for Latest
Web PIA  
 << March 2019 >> 
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
Special News Editions:
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
Visitors since 15 Feb 2011:
PIA News Archive:
PIA Archive News Reader

PIA Press Release

GSIS explains e-Card for pensioners

By Rose B. Palacio

Davao City (12 April) -- The Government Service Insurance System (GSIS) regional office has explained on the latest e-Card program of the government which is meant to expedite payments of monthly pension and give pensioners the opportunity to enjoy the full benefits of their pension.

GSIS Davao manager Mario Mojica, in an interview over Arena XI Forum over DXRP Radyo ng Bayan anchored by Josette Olivera and the Philippine Information Agency explained that through this new program, the electronic crediting facility of e-Card, pensions are credited directly to the account of the pensioners.

This prevents unscrupulous persons from taking advantage of pensioners through the discounting of pension benefits, Manager Mojica explained.

Before the e-Card, pensioners need to wait for weeks to have their checks mailed, deposited, cleared and encashed. Pension checks were likewise subjected to theft and misdelivery.

Unreported changes in addresses also result in pension checks being returns and cancelled. Worst, spurious GSIS checks proliferated despite efforts to secure printing procedures.

Administratively, the check payment system is costly and difficult to maintain. GSIS releases more than 300,000 pension checks per month to pensioners or 3,900,000 checks per year (including cash gift).

At P50.00 per check, the cost of annual mailing alone reached no less than P195.00-million. These does not even mention the big manpower requirement, huge reconciliation work and high overhead costs that go into the administration of a check payment system.

Today, GSIS pensioners can expect their pensions to be deposited to their e-Card accounts on the first working day of every month. They can also withdraw their pension immediately through any of the 6,000 Megalink, Bancnet, and Expressnet ATMs all over the country.

To increase distribution outlets, GSIS, through the Union Bank of the Philippines, is also entering into an agreement with M. Lhuillier for over-the-counter withdrawals using its point of sale (POS) machines of their 900 branches all over the country.

When abroad, pensioners can also withdraw their pension through Visa Plus Network ATMs, in the currency of the country where they are, Mojica further explained. (PIA-XI) [top]

|«  prev  next  »|
»Troubleshooter is new Davao penal colony chief
»GSIS explains e-Card for pensioners
»DILG wants unified plan vs terror in Mindanao
»Community radio empowers Comval town
»Pag-IBIG to pour P25 billion-fund for ‘07
»Pag-IBIG among country’s biggest taxpayers
»AIM brings 4-day course to Davao
»1Lt Cris Paul Agustin: "Matapang sa lahat ng bagay"
»Davao Light-assisted lumad scholars get college degree
»Komentaryo: Tumataas, kumpiyansa ng int’l investors
|«  prev  next  »|

Philippine Official Gazette | Office of the President | Presidential Communications Operations Office
For comments and feedback, please email PIA Newsdesk
Copyright © 2005 Philippine Information Agency
PIA Building, Visayas Avenue, Diliman, Quezon City 1101 Philippines