Albay Rep. Joey Salceda, one of the bill’s principal authors, said a substitute bill was already approved by the technical working group chaired by ACT Teachers party-list Rep. France Castro.
He said the TWG-approved measure included the Civil Service Commission and Department of Education as members of the Board of Trustees, since they are involved in the implementation of GSIS policies. “With greater representation by the contributor, I think the GSIS policies will be more favorable to their members,” he said. “We reiterated that GSIS was created by the government to serve its members, not the institution.”
Among the salient provisions of the bill include revisions of the definition of average monthly compensation and the revision of the computation of the basic monthly pension .
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