The Government Service Insurance System (GSIS) explained on Thursday, Oct. 26, the retirement process and benefits that retirees can claim from the state pension fund, especially regarding the 5-year lump sum and immediate pension.

“Yung 5 years na lump sum bibigyan ka ng pagkakataon makakuha ka ng lump sum ngayon po at magagamit mo sa negosyo mo ngunit kung halimbawa maubos mo yung pera mong makuha eh maghihintay ka ng limang taon bago ka magsimula mag-pension,” GSIS President and General Manager Jose Arnulfo “Wick” Veloso said in an episode of GSIS Ginhawa For All.

“Ang pagkakaiba dito dun sa may lump sum ka makukuha na 18 months, after makuha mo yung lump sum ng 18 months magpe-pension ka na agad the following month,” he added.

Veloso explained that 90 percent of their pension will come from the average of their salary for the last three years.

He also clarified that members should file their retirement in respective GSIS offices or through their website as the GSIS Touch mobile application has yet to allow document submission.

“Pwede rin sa GSIS touch mag-apply ngunit ang gusto ko lang masabi sa kanila, sa GSIS touch ay pwede ka mag-apply ngunit hindi pa namin nailalagay yung pagkakataon na yung actual documents mo dun mo ma-upload kaya kailangan mo pa rin mag-submit ng actual documents,” he said.

The GSIS chief also added that members should inform them of their plan to retire three months prior to ensure a smooth retirement process.

“20 working days ang processing time namin from filing kaya [lang] minsan nagkakaroon ng katagalan pag meron pong insufficient documents na na-submit,” Veloso said.

“Kaya po parati kong binabanggit sa ating mga kawani kung kayo’y magreretire 3 months ahead makipagugnayan na sapagkat ibibigay po namin yung anong kailangan [niyo]. Baka mamaya kulang pa yung dokumento ninyo hindi ma-process sa agency niyo,” he added.