The settlement resolves the long-standing issue that stemmed from NPC’s 2003 restructuring and affects over 1,200 former employees. The MOA was signed at the PSALM office in Vertis North, Quezon City, following a ceremonial turnover of the payment check held June 17 at the GSIS headquarters in Pasay City.
GSIS President and General Manager Wick Veloso called the deal a landmark move that delivers long-awaited justice and restores benefits.
“Ang ginawa natin ngayon ay hindi lamang nagbibigay ng pag-asa sa mga tao mula sa PSALM at NPC, kundi nagpapahayag din ng mensahe sa lahat ng nagsisilbi sa gobyerno: Gagawin natin ang lahat upang masuklian ang kanilang tapat na serbisyo sa bayan,” Veloso said. (What we have done today not only brings hope to the people from PSALM and NPC, but also sends a message to everyone serving in government: We will do everything we can to repay their faithful service to the nation.)
The settlement covers validated service periods as confirmed by the Commission on Audit (COA), with GSIS granting a 60-percent condonation on accrued interest, consistent with board-approved guidelines.
“Together we made it happen—the shared responsibility of PSALM, NPC and GSIS manifested in this ceremonial signing reflects the common commitment to fiscal responsibility, legal prudence and social justice,” said PSALM president and CEO Dennis Edward Dela Serna.
NPC president and CEO Fernando Martin Roxas added, “This is a significant day for the former 1,233 employees and their families who have lost their jobs in the course of privatization.”
GSIS will now proceed with the recomputation and crediting of service periods, enabling eligible claimants to finally receive their retirement and insurance benefits. —Ed: Corrie S. Narisma
