GOVERNMENT NON-BANK FINANCIAL INSTITUTION

The report should contain the following:

1. Definition REYSIE
2. Classification/Categories with definitions REYSIE

3. Examples of Companies as categorized

Government Service Insurance System (GSIS)

Social Security System (SSS)

The Social Security System (SSS; Filipino: Paseguruhan ng Kapanatagang
Panlipunan) is a state-run, social insurance program in the Philippines to workers
in the private, professional and informal sectors. SSS is established by virtue of
Republic Act No. 1161, better known as the Social Security Act of 1954. This law
was later amended by Republic Act No. 8282 in 1997.
https://en.wikipedia.org/wiki/Social_Security_System_(Philippines)

National Home Mortgage Finance Corporation

The National Home Mortgage Finance Corporation was created in 1977 by virtue
of Presidential Decree 1267, with the mandate of increasing the availability of
affordable housing loans to finance the Filipino homebuyer acquisition of housing
units through the development and operation of a secondary market for home
mortgages.
https://www.bloomberg.com/profile/company/0837431D:PM#:~:text=The
%20National%20Home%20Mortgage%20Finance,a%20secondary
%20market%20for%20home

Philippine Veterans Investment Development Corporation

Presidential Decree No. 243 dated July 13, 1973 created the Philippine Veterans
Investment Development Company to direct and look after the productive and
investment possibilities coming from the large number of veterans and retirees of
the Armed Forces of the Philippines;
https://lawphil.net/statutes/presdecs/pd1973/pd_353_1973.html

National Development Corporation.

NDC is mandated to pursue commercial, industrial, agricultural or mining
ventures in order to give the necessary impetus to national economic
development. NDC, may on its own, or in joint venture with the private sector,
 undertake vital projects when necessary or when the private sector is not willing
or able to undertake such projects due to high risks or to lack of funds/resources.
https://ndc.gov.ph/about-ndc/#:~:text=The%20National%20Development
%20Company%20

4. Highlight One Company by presenting the ff:

GSIS
The GSIS is a social insurance institution created under Commonwealth Act No.
186 on November 14, 1936. It provides and administers a pension fund to secure
the future of all employees in the Philippine government which has the following
social security benefits: compulsory life insurance, optional life insurance,
retirement benefits, and disability benefits for work related accidents and death
benefits. As mandated by Republic Act 696 or the Property Insurance Law, the
GSIS also manages the General Insurance Fund for the comprehensive
protection of government insurable interests.
https://psa.gov.ph/sites/default/files/2011PY_Banking%2C%20Other
%20Commercial%20Finance%20and%20Insurance.pdf

1. Why did you chose this company for your report

The group chose this company because it is one where many can
relate and it

Significance:Its primary objective is to promote the welfare of

government employees through an insurance system that will protect its
members against adverse economic effects resulting from death, disability
and old age.

2. It's category: GOVERNMENT NON-BANK FINANCIAL INSTITUTION

3. Milestones/Innovations
● GSIS enhances benefits of members, pensioners
First, more than 272,000 regular old-age and disability
pensioners, as of December 31, 2014, PGM Robert G. Vergara and
NCR Group SVP Nora Malubay-Saludares present to Honoria S.
Alcantara a facsimile check representing her milestone benefit.
page 2 Members urged to convert life insurance policy GSIS poised
for ISO certification pages 2-3 page 3 GSIS releases cash gift, cash
benefit to 1. 4 M members, pensioners received a one-time benefit
equivalent to onemonth pension or Php10,000, whichever is lower.
 Second, GSIS introduced a ‘milestone’ benefit scheme for
nearly 7,300 pensioners who are at least 90 years old, as of
September 1, 2015. They shall receive the following milestone
benefits: Php20,000 for 90 to 94 years old; Php50,000 for 95 to 99
years old; and Php100,000 for 100 years old and above. Starting
September 2, 2015, regular pensioners will receive milestone
benefits on their life’s three milestones: Php20,000 on their 90th
birthday; Php30,000 on their 95th birthday; and Php50,000 on their
100th birthday
Third, qualified beneficiaries of GSIS members and
pensioners whose date of death is from September 1, 2015 or
onwards are entitled to an increased funeral benefit of Php30,000.
The funeral benefit was last increased in 2001 when it was
raised from Php18,000 to Php20,000. The increase is long GSIS
released the Christmas cash gift to a total of 235,180 old-age and
disability pensioners starting December 10, 2015.

● Christmas cash gift granted to 235K pensioners

GSIS released the Christmas cash gift to a total of 235,180
old-age and disability pensioners starting December 10, 2015.

● GSIS releases cash benefit to 1.1 M members

GSIS members whose compulsory life insurance policies
have been in force for at least one year, as of December 31, 2014,
and those whose policies have matured in 2014 received the
benefit. Also entitled to the cash benefit were members whose
agencies were suspended, as of December 31, 2014.

● GSIS poised for ISO certification

The Government Service Insurance System (GSIS) was
recently conferred the coveted International Organization for
Standardization (ISO) 9001:2015 certification after meeting
international standards for the quality management system (QMS)
of its major processes. The awarding ceremony was held at the
GSIS Theater in Pasay City.
https://www.gsis.gov.ph/gsis-earns-iso-90012015-for-major-
processes/?csrt=7077187638034680807

● GSIS best practices figure in int’l tilt

Two GSIS best practices were among the 23 entries to the
International Best Practice Competition (IBPC) that the
 Development Academy of the Philippines (DAP), Asian Productivity
Organization, and Centre for Organisational Excellence Research
jointly organized last November 26-27 at the Novotel in Quezon
City. Officer-in-Charge-Vice President (OIC-VP) Rachel T. Edjan of
GSIS South Luzon Office presented the innovative project ‘The
GSIS’s Electronic Billing and Collection System (eBCS).’

● 26 GSIS offices awarded CSC Seal of Excellence

The number of GSIS branch offices that were awarded the
Seal of Excellence by the Civil Service Commission (CSC) for 2014
to 2015 has now reached 26. The awardees obtained ‘Excellent’
ratings in the CSC’s Anti-Red Tape Act - Report Card Survey
(ARTARCS) and had no unresolved ARTArelated complaints in
CSC’s help desk, Contact Center ng Bayan.
The 24 awardees are Laguna, 96.72%; Virac, 96.43%;
Bulacan, 96.21%; Tarlac, 95.99%; Surigao, 94.28%; Dumaguete,
94.27%; Bataan, 94.08%; Head Office, 93.69%; Roxas, 93.58%;
Cauayan, 93.56%; Pasig, 93.39%; Borongan, 92.96%; Bayombong,
92.74%; Tagum, 92.59%; Calapan, 92.27%; Aklan, 92.17%;
Butuan, 92.09%; Batangas, 91.73%; Palawan, 91.30%;
Tuguegarao, 91.03%; Baguio, 90.94%; Dipolog, 90.75%; Bohol,
90.68%; and Bacolod, 90.54%. Laoag (92.83%) and La Union
(92.57%) were the first offices to make it in the elite circle of
awardees this year.

● GSIS allots Php1.4B in emergency loan for members,

pensioners in 6 typhoon-hit areas in Luzon

The Government Service Insurance System (GSIS) has set

aside over Php1.4 billion in emergency loan for its 70,561 active
members and old-age and disability pensioners in six Luzon areas
that were affected by typhoon Tisoy.

● GSIS earmarks PhP2.4B in emergency loan for Taal-hit

members, pensioners in Batangas, Cavite

State pension fund Government Service Insurance System

(GSIS) has set aside almost Php2.4 billion in emergency loan for its
active members and pensioners working or residing in Batangas
and Cavite provinces who were affected by the Taal Volcano
eruption.
● GSIS opens Php2.07B loan for typhoon-hit members,
pensioners in Luzon

The Government Service Insurance System (GSIS) has

opened a Php2.07 billion emergency loan window for its members
and pensioners in nine Luzon areas who were affected by typhoons
Tisoy and Quiel.

● GSIS enhances policy on change in retirement options

State pension fund Government Service Insurance System

(GSIS) now allows retired members who have applied for their
benefits but have not yet received payment from GSIS to change
their retirement mode, option, or date to meet their needs.

● Egisismo
eGSISMO stands for Electronic GSIS Member Online. A web-
based system, eGSISMO allows you as a member to view
electronically any time and anywhere your member profile and
record of loans and claims.

● SMS your GSIS anytime, anywhere

Simply text 4747 and get instant information about your

membership,loans, retirement, and many more.
Open to all Globe, Smart, Touch Mobile, and Talk ‘N Text
subscribers.
To text GSIS simply key in:
GSIS <space> your message

https://www.gsis.gov.ph/downloads/publications/20160202-
GNEWS-EXT-2-2015.pdf?
csrt=958285151832875748#:~:text=Second%2C%20GSIS
%20introduced%20a%20'milestone,100%20years%20old%20and
%20above.

https://www.gsis.gov.ph/news/archive/?
csrt=17086123704185707889
 https://www.gsis.gov.ph/gsis-enhances-policy-on-change-in-
retirement-options/

4. Main services

The principal benefit package of the GSIS consists of compulsory and

optional life insurance, retirement, separation, and employee’s
compensation benefits.

GSIS offers the following loan products to assist you with your financial
needs:
1. Enhanced Consolidated Salary Loan (ConsoLoan) Plus

Under the Enhanced Conso-Loan Plus Program, members who

have at least 15 years of service with paid premiums may borrow a 12-
month salary loan while those with not less than 25 years of service will be
eligible for a 14-month loan. Previously, the credit limit for these members
was only 10 times their salary. GSIS also extended the maximum payment
term from six to 10 years for members with not less than 10 years of paid
premiums.

https://www.gsis.gov.ph/active-members/loans/enhanced-conso-loan-plus/

2. Policy Loan
Policy loan is a loan program which you can avail from your
GSIS life insurance policy.
There are two kinds of compulsory GSIS life insurance programs
which are automatically granted to you the day you enter
government service: the Enhanced Life Policy (ELP) and the Life
Endowment Policy (LEP).
ELP provides cover for you if you entered the service after
July 31, 2003. Members whose policies have matured will also be
covered by ELP. The maximum loanable amount you can avail of
under ELP is up to 90 percent of the accumulated termination value
of this policy.
On the other hand, LEP refers to the life insurance policy
issued to you if you entered the service prior to August 1, 2003.
 The maximum loanable amount you can avail of under LEP is up to
50 percent of the accumulated termination value of this policy.
You can choose to either pay your Policy Loan through
monthly amortization or have it count against your existing life
insurance policy contract.
The Policy Loan bears an interest of 8% compounded
annually.

https://www.gsis.gov.ph/policy-loan/

3. Enhanced Emergency Loan

Emergency Loan Program is created to help GSIS
members during natural calamities and disasters. Take note that
this loan is only available for GSIS active members working or
living in areas which are declared under a state of calamity.
https://cashmart.ph/gsis-loan/

4. Pension Loan
A pension loan is offered to qualified old-age GSIS
pensioners who have no outstanding service loans being amortized
under the Choice of Loan Amortization Schedule for Pensioners
(CLASP) at the time of filing. The loan amount that may be availed
is based on the Basic Monthly Pension (BMP) and the pensioner’s
age as of the date of the receipt of the application or the time the
pensioner applied through the kiosk
https://www.gsis.gov.ph/pension/pension-loans/

5. Pensioners Emergency Loan.

“Under the GSIS Emergency Loan program, our members
and pensioners may take out a Php20,000-loan which is payable in
three years at only 6% interest per annum. The loan is covered by
an insurance, which deems the loan fully paid in case of the
borrower’s demise. Rolando L. Macasaet- President and General
Manager GSIS
https://www.gsis.gov.ph/gsis-opens-online-covid-19-
emergency-loan-for-members-pensioners-nationwide/
 https://www.gsis.gov.ph/about-us/gsis-mandate-and-
functions/#:~:text=The%20principal%20benefit%20package
%20of,separation%2C%20and%20employee's%20compensation
%20benefits.

5. Net worth for 2019 or prior until 2017 only price of stock in case it is listed
company
● 2017 - 66,600,000,000
● 2018 - 33,420,000,000
https://www.statista.com/statistics/1184223/philippines-net-worth-
government-service-insurance-system/#:~:text=The%20total%20net
%20worth%20value,billion%20Philippine%20pesos%20in%202018.

6. Website (screencap)

https://www.gsis.gov.ph/