By Alma L. Tingcang
PAGADIAN CITY - “There is no truth to
speculations that the Government Service Insurance System (GSIS) Average
Monthly Compensation (AMC) will soon be based on the member’s salary for the
last ten years of service.”
This was the
gist of the message of Engr. Leoncito S. Manuel, GSIS branch head in an
interview with Philippine Information Agency.
Manuel said the
Average Monthly Compensation that is used as a basis in computing the amount of
GSIS retirement and pension benefit is the average of the member’s basic salary
in the last three (3) years or 36 months of his or her service in government.
Earlier, there
were suppositions that the AMC will shortly be based on a member’s salary for
the last ten (10) years of service. Manuel went on to explain that GSIS has no
intention of revising the definition of the AMC under Republic Act 8291.
The AMC is one of the factors in the computation of the Basic Monthly Pension (BMP) of a GSIS member which is computed, BMP = (.025) x (AMC + P700) x Period of Paid Premium.
To better appreciate one’s benefits upon
retirement, GSIS facilitates Pre-Retirement Counseling to its members which is
scheduled every month and even accommodates special requests from national
government agencies and local government units who wish to avail of such
services.
For the month of May and June, it was held
at the Department of Education and Department of Agriculture in Ipil, Zamboanga
Sibugay.