More than 12,000 employee compensation (EC) pensioners will get P20,000 each in financial assistance, or a total of P252 million, from the Government Service Insurance System (GSIS).
GSIS said in a statement yesterday this is in compliance with Administrative Order (AO) No. 39 which directs the grant of a one-time financial assistance to all EC pensioners, as they “experience undue financial hardships because of their vulnerabilities, and in anticipation of the prolonged economic impact of the (COVID-19) pandemic in their lives.”
Rolando Macasaet, GSIS president and general manager clarified EC pensioners are former government employees who retired early due to work-related sickness, injury or disability and availed of benefits under Presidential Decree No. 626. EC survivorship pensioners are spouses of EC pensioners who died.
The benefit is a compensation package for public and private sector employees and their dependents in the event of work-related injuries, sickness, disability or death.
The financial assistance was a recommendation of GSIS and the Social Security System (SSS), which manages the EC fund for employees in the private sector.
GSIS is coordinating with the employees compensation commission and SSS to finalize the implementing rules and regulations for the AO. – Angela Celis
