GSIS Retirement Benefits for Members under each Program — A GUIDE

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Details about the GSIS Retirement Benefits for Members

GSIS RETIREMENT BENEFITS – Here are the benefits set for the members under each Retirement Program of the Government Service Insurance System.

The benefit offer that the members of the Government Service Insurance System look forward to the most is teh GSIS Retirement Benefit. However, what many people don’t know is that the GSIS retirement benefits that a member may get vary depending on the chosen retirement program.

Presidential Decree 1146

This retirement program which is open for retiring members who have rendered at least 15 years of service, are at least be 60 years old upon the retirement, and whose last 3 years of service prior to retirement must be continuous and your employment status is permanent are entitled to any of the following:

  • Pension — A retiring GSIS member may choose from the two (2) options provided by the state-run social insurance agency such as the following:
    • Option 1 — 5-Year Lump Sum or the total amount to be received within the 5-year guaranteed period
    • Option 2 — Immediate Pension or the old-age pension
  • Cash Payment computed as (AMC) (TLS).

Republic Act 1616

Retiring GSIS members who have entered the government service before June 1, 1977, have rendered at least 20 years of service regardless of age and employment status, and whose last 3 years of service prior to retirement must be continuous are entitled to the following:

  • Gratuity Benefit which is equivalent to gratuity years multiplied by the highest salary received from the last employer. Here is a guide on the computation:
    • First 20 years of service
      • years of service multiplied by 1 month of highest salary received
    • 21-30 years of service
      • years of service multiplied by 1.5 month of highest salary received
    • Excess of 30 years of service
      • years of service multiplied by 2 months of highest salary received
  • Refund of retirement premiums composed of personal share with 3% interest per annum and government share without interest.

Republic Act 660

This retirement program which is open for retiring members who have entered government service before June 1, 1977, on a permanent status and at least 52 years old and meet the corresponding years of service (YOS) required for eligibility, and whose last 3 years of service prior to retirement must be continuous may avail the following based on age:

  • 63 and above — 5-year Lump Sum
  • Below 63 but at least 60
    • initial 3-year Lump Sum payable upon retirement
    • subsequent 2-year balance payable at age 63
  • Below 60
    • monthly pension paid annually

Republic Act 8291

The retirement under the Republic Act 8291 is open for members who have rendered at least 15 years of service and must be at least 60 years old upon retirement. The member must also not be a permanent total disability pensioner. The retiree may choose from the following GSIS retirement benefits:

Option 1

  • Lump Sum – equivalent to your 60-months (or 5 year) Old age basic monthly pension (BMP) payable at the time of retirement
  • BPM – payable for life after the 5-year guaranteed period

Option 2

  • Cash Payment – equivalent to 18-month BMP payable upon retirement
  • Immediate BMP – payable for life from the date of retirement

The GSIS benefits do not end in retirement. In case of death, the beneficiaries of the deceased member of the state entity may be granted the GSIS Funeral Benefit.

GSIS Funeral Benefit

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