PNoy okays hike of GSIS minimum pension to P5,000
DUMAGUETE CITY, Negros Oriental, Aug 2 (PIA) -- In his State of the Nation Address, President Benigno Aquino III announced the basic minimum pension of Government Service Insurance Systemâ€™s (GSIS) old-age and disability pensioners to P5,000 effective January 2013.
In a GSIS press statement, GSIS Regional Manager Ma. Vilma Fuentes said the increase was a move that is more responsive to the needs of old age and disability pensioners, particularly in the light of the rising prices of basic commodities.
Under the plan, all old-age and disability pensioners will receive the new minimum monthly pension of P5,000 while those receiving over the minimum but less than P8,000 will receive an adjustment of P200 every month.
The release said, roughly 57,000 pensioners will enjoy the new minimum pension while another 50,000 will qualify for the P200 increment.
Under Republic Act 8291, otherwise known as The GSIS Act of 1997, the GSIS Board of Trustees may recommend to the President of the Philippines the adjustment of the basic monthly pension in accordance with the rules and regulations prescribed by the GSIS, provided, however, that the basic monthly pension shall not be less than P1,300. (mbcn/JCT/PIA-Negros Oriental)
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