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Government Service Insurance System (GSIS)

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Government Service Insurance System (GSIS)

Post  LPC on Tue Jan 20, 2009 11:06 am

LAND BANK OF THE PHILIPPINES EMPLOYEES’ ASSOCIATION
DOLE-CSC REGISTRATION NO. 246
21st Floor, LANDBANK PLAZA
1598 M. H. Del Pilar, Malate, Manila
Tel. Nos. 528-8529, 522-0000 loc. 2480, 2525 & 2664


January 20, 2008

MS. GILDA E. PICO
President and CEO
Land Bank of the Philippines

Dear Madam:

Several years have already passed yet the common complaint of LANDBANKERS against GSIS still persists. Even more, the telephone calls we continue to receive nationwide are mounting on premiums and loan payments which are not recorded in the books of GSIS. Based on records of concerned personnel and the Bank, premium and loan payments were remitted regularly and timely to GSIS. Despite our remittances, concerned employees report the following problems:

 Premium in arrears with interest/penalties. Our account with GSIS did not reflect the correct balance of premium payments;
 Original Amount of Loan granted is not diminishing while loan which had been paid long years ago remain outstanding and continue to balloon due to interests and penalties;
 Outstanding loan balance which was not availed by concerned employee.
 New Policy contracts were not issued to those whose original contracts had matured.
 Member information and Records could not be accessed from GSIS online system.

GSIS has been a source of financial assistance for our needs such as education and others through its loan facilities. However, because of the present problem in GSIS, concerned employees are suffering since:

 loan for essential needs could not be availed.
 maturity or retirement benefits were not received timely or correctly because premium in arrears and loan balances which had been paid already plus interest/penalties were offset from the amount of matured or retirement claim.
 Dividend is not paid on time as it has been before or the dividend was not given at all.
 Certification of payments from Agency is not acceptable, hence those who could no longer find or retrieve their payslips or other records has no other way to prove the payments.

Considering the length of time we spent individually in waiting patiently for GSIS to correct and update our records, the problems seem to have become worst instead. We believe, with this situation, GSIS is no longer capable of performing its vital functions. Hence, to protect our interest due to the stated irregularities in its records, a consensus was arrived at among the members of the Land Bank of the Philippines Employees’ Association (LBPEA) nationwide to do the following action:

1. Talk personally with GSIS Officials through the intercession of LBP Management.
2. Bring our concerns to proper authorities and pray for the withholding of remittances until our records would be corrected and updated.

In this regard, may we request for the immediate intercession of LBP Management Team so that GSIS Officials would take appropriate action to put the accounts of LANDBANK employees in proper order within sixty calendar days.

We look forward to the immediate resolution of our problem with GSIS through your help. Thank you very much.


Very truly yours,


LORETO P. CHUA
President, LBPEA

LPC
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Registration date : 2008-12-26

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