Over 20,500 active, retired DepEd employees may get GSIS refund

MANILA, Philippines - Starting this week, more than 20,500 active and retired employees of the Department of Education (DepEd) may claim their refund amounting to P126.47 million from the Government Service Insurance System (GSIS).

The refund covers employees whose cash surrender value (amount paid to the policyholder upon separation from the service) or maturity benefit (benefit payable upon maturity of the endowment policy) was deducted as premium-in-arrears due for the months of July 1997 to December 2010, the GSIS said in a statement.

The refund will be released through the employees’ Unified Multi-Purpose ID eCards, or in the form of checks for those without eCards.

For questions on the refund, DepEd employees may call the GSIS hotline (02) 847-4747.

Last January, the state pension fund gave out an initial refund amounting to P362.35 million to more than 73,000 DepEd personnel.

This after the agency received the P3.46-billion payment from the Department of Budget and Management (DBM) representing half of the P6.92 billion in total unpaid compulsory premium contributions-government share for more than 800,000 teaching and non-teaching personnel from July 1, 1997 to Dec. 31, 2010.

GSIS said the second tranche of refund represents the payment of premium contributions pertaining to the government share, which was previously deducted from the life insurance benefits of these employees.

“As a result of the second tranche of refund, more than 14,000 DepEd employees in active service will enjoy a proportionate increase in loanable amounts and potentially increased retirement benefits,” GSIS president and general manager Robert Vergara said.

He said GSIS would also recalculate the benefits received by 6,530 separated and retired employees and would refund them the amount deducted. The pensions of these former workers will likewise be adjusted.