PHILIPPINE STAR/MIGUEL DE GUZMAN

THE GOVERNMENT Service Insurance System (GSIS) has lifted the cap on survivorship pensions, ensuring that surviving spouses get their full benefits under the law.

“By lifting the cap, GSIS ensures that surviving spouses will receive what they are rightfully entitled to, while staying true to our duty of providing fair and adequate benefits,” GSIS officer-in-charge Juliet M. Bautista said in a statement on Thursday.

The adjustment came after the GSIS Board approved a resolution removing the ceiling that had long restricted survivorship pensions. Survivors will now get the full equivalent of 50% of the pension of the deceased member or pensioner, without limitation.

Previously, survivorship pensions were capped at 50% of an undersecretary’s salary, preventing many beneficiaries from claiming the full amount due under the law.

“With the new policy, all survivorship pensioners affected by the old cap will have their pensions automatically recomputed and adjusted, while future survivorship pensioners will likewise receive the full survivorship pension without limitation,” the state pension fund said.

GSIS assured members that its funds remain financially sound and could sustain the policy change while continuing to cover other benefits.

The survivorship pension is given to the legal spouse of a deceased GSIS member or pensioner. It serves as financial support for widows and widowers who often rely on their spouse’s retirement benefits.

The removal of the cap is expected to improve the financial security of thousands of beneficiaries.

GSIS also emphasized that its actuarial studies confirm the viability of the pension fund, with revenues from investments and insurance operations supporting higher benefit payouts. — AMCS

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