Bill Type
Congress Name
Long Title
AN ACT GRANTING RETIRED MEMBERS OF THE GOVERNMENT SERVICE INSURANCE SYSTEM THE FULL VALUE OF THEIR CONTRIBUTIONS TO THE SYSTEM, AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 8291, OTHERWISE KNOWN AS `THE GOVERNMENT SERVICE INSURANCE SYSTEM ACT OF 1997'
Date filed
July 2, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 323, 12th Congress of the Republic | |
| FULL TITLE : AN ACT GRANTING RETIRED MEMBERS OF THE GOVERNMENT SERVICE INSURANCE SYSTEM THE FULL VALUE OF THEIR CONTRIBUTIONS TO THE SYSTEM, AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 8291, OTHERWISE KNOWN AS `THE GOVERNMENT SERVICE INSURANCE SYSTEM ACT OF 1997' | |
| ABSTRACT : The main objective of this bill is to grant the GSIS members who will retire from the service the total GSIS contributions of the member and the employer, including the interest earnings of the said contributions. To accomplish this objective, thisbill introduces the concept of "FULL VALUE OF CONTRIBUTIONS" which shall be used as the basis for the payment to the retirees of their lump sum and the basic monthly pension benefits which are likewise redefined in this Bill. | |
| PRINCIPAL AUTHOR/S : ABAYA, PLARIDEL M. | |
| DATE FILED : 2001-07-02 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. Ablan | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Del Mar (005 ) | 2. Badelles (008 ) |
| 3. Monfort (015 ) | 4. Echiverri (026 ) |
| 5. Espino (030 ) | 6. Ramirez-sato (036 ) |
| 7. Chipeco (017 ) | 8. Syjuco (041 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON GOVERNMENT ENTERPRISES AND PRIVATIZATION ON 2001-07-24 |
Abstract
The main objective of this bill is to grant the GSIS members who will retire from the service the total GSIS contributions of the member and the employer, including the interest earnings of the said contributions. To accomplish this objective, thisbill introduces the concept of "FULL VALUE OF CONTRIBUTIONS" which shall be used as the basis for the payment to the retirees of their lump sum and the basic monthly pension benefits which are likewise redefined in this Bill.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.