GSIS contributions of Armm teachers released-A A +A
Sunday, July 13, 2014
THE Aquino administration has released P891.4 million to settle the unpaid Government Service Insurance System (GSIS) premium contributions of Department of Education (DepEd) personnel in the Autonomous Region in Muslim Mindanao (Armm), the Department of Budget and Management (DBM) said Sunday.
“We are very pleased to announce that we are beginning the process of settling all unpaid GSIS contributions of our teachers in the Armm. This latest fund release sets into motion the delivery of the full range of benefits offered by the GSIS to these employees,” Budget Secretary Florencio Abad said.
The release is in accordance with the signed Supplemental Memorandum of Agreement (MOA) among the GSIS, DepEd and DBM, a development that clears premium arrears of a total of 29,019 DepEd-Armm employees.
The DBM is also set to release another P100 million within one year from the MOA signing to completely settle the GSIS contribution backlog.
Of the P891.4 million, P543.9 million was sourced from the Retirement and Life insurance Premiums (RLIP) and the remaining P347.5 million from the Miscellaneous Personnel Benefits Fund (MPBF).
The RLIP and MPBF are under the 2014 General Appropriation’s Act.
As the budget department previously reported, the supplemental MOA is a byproduct of the previously signed tripartite agreement by the three agencies in March 2004.
The agreement formalized the assurance of DepEd-Armm to pay their obligations to GSIS within 15 years from the date of signing. (SDR/Sunnex)