Fabian’s House committee reports ’improved GSIS’ bill, two others PDF Print E-mail
Friday, 08 February 2013 10:34

The House Committee on Government Enterprises and Privatization has reported out three consolidated bills to the house plenary earlier this month as it winds up is work this 15th congress.

The committee, chaired by 2nd District Rep. Erbie A. Fabian concluded extensive work on a consolidated bill seeking to improve the Government Service Insurance System or GSIS.

Among the salient points introduced into the consolidated bill were increased benefits for GSIS members, increase in penalties for those failing to remit GSIS premium contributions, institutionalize members rights, widen representations of membership in the board of trustees, Deletes the survivorship benefit qualifier “dependent for support upon member or pensioner” for beneficiaries, Provides for an option to unmarried members to designate a beneficiary in the absence of parents or children,

Increases criminal and civil liabilities for erring officials/employees with regard to the deduction and remittance of premium payments of members among others.

The consolidated bill was co-authored by Reps. Introduced by Representatives Juan Edgardo M. Angara, Eulogio “Amang” R. Magsaysay, Rufus B. Rodriguez, Maximo B. Rodriguez, Jr., Francisco T. Matugas, Rosenda Ann Ocampo, Winston T. Castelo, Abigael Faye C. Ferriol, Salvador H. Escudero III, Romeo M. Acop, Joseph Victor G. Ejercito, Edgar S. San Luis, Erico B. Aumentado, Ma. Amelita A. Calimbas-Villarosa, Tomas V. Apacible, Linabelle Ruth R. Villarica, Anthony G. Del Rosario, Lani Mercado-Revilla, Ma. Victoria R. Sy-Alvarado, Jun Omar C. Ebdane, Augusto BoboySyjuco, Bernadette R. Herrera-Dy, Sherwin N. Tugna, Marcelino R. Teodoro, Joel R. Duavit, Ben P. Evardone, Salvador P. Cabaluna III, Arnel M. Cerafica, Daryl Grace J. Abayon,   Eduardo R. Gullas, EricoBasilio A. Fabian, Antonio L. Tinio, Arthur R. Defensor, Jr. and David L. Kho.

The Recall that at the onset of the 15th congress sessions, public clamor was at its height of improving the GSIS in light of allegations the previous administration has raided its coffers, money raised from government employees deducted premiums for spurious and disadvantaged transactions resulting in huge losses incurred by the state owned pension and retirement agency for government workers.

It has gotten to a point where GSIS members were experiencing difficulties in getting salary or policy loans.

Fabian committee buckled down to work right after and prioritized the GSIS in its hearings to see where it can be improved and made viable once again.

The consolidated bill seeks to primarily address the deficiencies and flaws in the GSIS and presented an array of measures for the pension agency to adopt.

The consolidated house bill will now be the basis for the passage into law institutionalizing drastic measures to the GSIS to help protect the investments of millions of state workers who have contributed funds for their pensions upon retirement from active service.

Rep. Fabian in a statement following the completion of the bill and that of two others said, the final output was the product of extensive studies, research, hearings, interview with top officials of the said agencies which guided the solons in the committee to draw up the final recommendations it was submitting as contained in the bill.

It is critical that these agencies be brought back to full efficiency and public confidence and faith must be restored among our millions of workers contributing to their retirement fund so they may enjoy the fruits of the labor afterwards, the 2nd district solon declared.

Other than the two bills, the Fabian committee also reported out a bill on improving the Philippine Crop Insurance Corp. of the country.