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About 40 retirees from the Government Service Insurance System (GSIS) were underpaid by a total of P1.1 million, according to state auditors.
This observation was made in the audit report of the Commission on the audit. GSIS for 2017.
"Management has not discounted the ideal monthly minimum basic pension (PGB) of 5,000 P for an insufficient pension amount of 1.105 million P from 41 old-age pensioners and pensioners. Disability, contrary to Council Resolution (BR) No 110 dated 2 July 2012 and PPG No 275-14 of 18 December 2014 on revised PPG [policy and procedural guidelines] on the administration of pensions, thus depriving pensioners the exact amount of benefits due to them, "CoA said.
"Examination of 3103 of the 52,649 retirees or six percent of the monthly pension processed for CY [Calendar Year] 2017 revealed that 36 retirees were underpaid by 1,015 million pesos due to the non-adjustment of the pension This average includes 17.51 months of underpaid retirement for the period from January 2013 to November 2016. "
On the basis of the audit report, the 36 retirees claimed benefits. pension totaling P2,136,979 instead of P3,152,322.
According to the audit report, the BR 110 approved and confirmed, subject to the approval of the President, a pension increase for the old-age and disability pensioners as of 1 January 2013.
BR 110 provided the adjustment P5000 as well as granting an increase of one and a half percent, monthly pension adjustment to P5,000 for those still entitled to less than P5,000 after the increase of one and a half percent. An adjustment of 200 pesos per month was also granted under BR 110 for pensioners receiving a monthly pension greater than 5,000 pesos but less than 8,000 pesos after the increase of one and a half percent [19659008]. Retirees of old age and disability, as well as those whose length of service is greater than 15 years but have less than 15 years of paid contribution periods. Retirement pensioners who have retired under the Portability Act and survivor pensioners are not qualified, "said CoA
. amount of pension and updating of pensioner's status.
CoA added that the GSIS did not pay the P5,000 monthly minimum pension accrual to six retirees totaling P90,000.
"Despite the automated system of management, retirees with stale pension records continue, thereby depriving recipients of the correct amount of benefits they are owed," CoA said.
She asked the GSIS to credit the differential pension of 1 million pesetas and the retirement pension
He also told the GSIS of "[e] evaluate the pension record of all retirees with an original PGB lower than the minimum pension of 5,000 P from CY 2013 "and to" [u] pd the pension records and electronic credit pension adjustment of these pensioners with BMP below the minimum. "[19659002] Finally, CoA has indicated the GSIS to inform the pensioners to always check their eGSISmo account so that they are kept informed about their
The GSIS has indicated that since 2013, it sends bi-monthly notices (before and after retirements) to its relevant operating units (OUCs) to check pensioners with less than 5,000 BMPs in the database. However, this practice does not allow to consider pension costs (or initial pension payments) processed by unemployment insurance companies using less than 5,000 BMPs as BMPs. "
The SIGG adds that it" will develop a check tool that will check whether it is processed pensions of pension funds have used or not the minimum pension, and then advise the unemployment funds to validate and rectify accumulated pensions as needed. "
" The promotion of the use of eGSISMO, for both members and retirees, is an ongoing activity and a desired effort for the GSIS as part of the commitment to provide a quality service. Apart from the eGSISMO, retirees can also apply to the GSIS call center on the status of their pension and their pension accounts, "said the GSIS
Loans not Paid
According to the same audit report, companies with total assets of $ P2.1 billion and accumulated interest of $ 8223.1 million remained uncollected for 20 years or more because of the fact. lack of a concrete action plan to recover them.
"The review of the available files submitted by the Management showed on various dates, the GSIS Board of Trustees granted loans of a total capital amount of $ 112.19 billion in favor of of the 25 GIS Commercial Loan Program companies, which were still outstanding as at December 31, 2017 for 20 years or more from the date of the loan being granted. an amount of 823,153 million euros as of December 31, 2009, from eight loan accounts, was recorded in the books of accounts and presented in the current financial statements. "CoA declared:
The loan of 23 of the 25 companies mentioned above, amounting to 118.8 billion pesos, excluding only loans from GSIS Family Bank and Development Bank of the Philippines, was already considered fully impaired since 31 December 2010, although some of these companies exist were still there. and operative. Similarly, all accrued interests recognized at 823,153 million pesos were considered to be fully impaired unevenly between December 31, 2010 and June 15, 2012. Considered in advance, it is evident that it was not There is no interest, surcharges and penalties "The lack of a quick and concrete action plan to recover the aforementioned private loans is contrary to the requirements of Article 30 DP 1146, as amended, and section 2 of the RFP 1445 on the Protection and Safeguarding of Invested Funds, which results in the continued deprivation of the additional fund system for the benefit of its members and also doubts as to its recoverability in view of this settlement or amicable negotiation Presidential Decree (PD) 1146 is the revised Public Service Insurance Act of 1977, while Presidential Decree 1445 is the Government Audit Code of the Philippines
The CoA recommended to the GSIS, inter alia, "[f] develop a concrete plan of action for the recovery of private loans of a principal amount of P2. 119 billion plus accrued interest, surcharges and penalties. "
The GSIS" commented that the coordination with Controller Group and READMO [Real Estate Asset Disposition and Management Office] is in progress. During the meeting of the Board of Directors on May 29, 2018, READMO was instructed by the Board to submit a memorandum regarding the Management's proposed plan of action to deal with the recovery of private loans outstanding since then. long time. READMO will provide further information on the measures taken on this subject no later than 31 December 2018. "
CoA, in response, pointed out that the GSIS" needs to update the total balance of the loans of the 25 private loan accounts as at 31 December 2018. December, 2017. We also observed that to date, only five of the 25 private loan accounts have updated the total loan balance / account statement. "
" In this regard, we respectfully enjoin the management to update the SOA of the other 20 private loan accounts not only for the purpose of possible future legal proceedings for their recovery, but also as a basis the request for authorization to write off accounts in accordance with the relevant rules of the ACO. The implementation of the management action plan within the specified time frame will be monitored during the 2018 fiscal year. "CoA stated:
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