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Government Non-Bank Financial Institution: GSIS< SSS< and PAG_IBIG
Transcript of Government Non-Bank Financial Institution: GSIS< SSS< and PAG_IBIG
members (PD No. 1146) It started its operation on May 31, 1937, with an initial capital of P200000 for operating expenses and a personnel force of fifty (50) employees and there were about 100,000 members. The Product SSS (Social Security System) o Is an agency which is created to establish a social security protection to workers in the private sector, wage earners as well as self-employed persons. It is implemented in accordance with the Republic Act 1161, better known as Social Security Act of 1954. GOVERNMENT NON-BANK
GSIS,SSS, and PAG-IBIG was created by Virtue of P.D. No. 1530 on June 11, 1978
the fund was created to address two of the nation's concerns: generation of savings and providing shelter for Filipino workers.
administered by : GSIS & SSS the Board of Trustees Major organizational Units or groups are the following: 1. Primary functions- Social Insurance Functions Policy Loans
Educational Assistance Loans 2. Secondary Functions- Financial Assistance Monthly income Social Security refers to a system of compulsory measures intended to protect the individual and his family against the consequences of an avoidable interruption of serious diminution of income for maintaining a reasonable standard of living Resources Salary Loans Services Loans: Objectives: 1. To promote efficiency and welfare of government employees.
2. To help the Filipino government employee when he cannot or can no longer help himself or his family.
3. To pay out any and all rightful insurance claims to its policy holders when these are due. Organizational Structure The governing and policy-making body of the GSIS is the Board of Trustees, the members of which are appointed by the President of the Philippines. Organizational Structure Organizational Structure office of the Board of trustees
office of the President & general manager
actuarial research & Development Group
information system Group
Legal Administrative Group
loans & Investment Group
General insurance group
Branch offices Group Life Insurance
1. Retirement Benefits 2. Disability Benefits A disability may either be:
permanent partial 3. Survivorship Benefits 4. Funeral Benefits 5. Employees’ Compensation
(EC) Benefits 6.Life Insurance percentage of monthly income P200m or less
over 200 up to 3.000
in excess of 3,000
Payable by Employee Employer 7.5%
9.5% Monthly Contribution -it started operating on September 1, 1957 with 211 personnel is under the general supervision of the social security commission of the secretary of Labor and Employment, the SSS administrator, and Six appointed members from the labor group management group and the general public Coverage: 1. voluntary Coverage a. coverage of separated members b. coverage of Overseas Filipino Workers c. coverage of non-working spouse 2. Compulsory Coverage Benefits: 1. Sickness Benefits 2.Maternity Benefits 3.Disability Benefits •Retirement Benefits •Death Benefits Educational Loans Housing Loans NEW SSS CONTRIBUTION SCHEDULE MEMBERSHIP CAN BE: Voluntary mandatory (R.A 9679) Benefits: A. Savings B. Short term Loans Multi-purposed loan program Calamity loan C. Access of housing program Thank you for listening:) Prepared by: Salvana, Melchur
Sarento, Louwena Jane
Sibug, Mark Leo