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It was learned from GSIS that the Conso-loan is equivalent to the members 10 months salary and this may be availed by GSIS members who have been in government service for at least 10 years.
Such loan is the consolidation of the five different loans granted by GSIS to its members.
She explained that, because the process of updating transactions has been changed, the computer read transactions manually updated by GSIS employees differently.They also told of how members would receive notices from GSIS that they have not paid their loans even though they complied with monthly contributions and followed guidelines for loan payments. Sit and die,” Alidon asked the GSIS officials present at the hearing. GSIS officials present at the hearing apologized for the errors and promised to the committee that they would provide a permanent solution to problems members complained about by December 2009.Domingo Alidon, chairman of the education department’s National Employees Union said not only are retired members are not getting their claims on time, some also do not get the correct amounts, in effect getting less than they are supposed to receive. They explained that the problems came about because they migrated members’ files from a manual system to a computerized system that crashed due to the volume of GSIS members.This was supposed to have been fixed last November 2008.GSIS Finance Sector Executive Vice-President Omelita Tiangco acknowledged that GSIS members may have received wrongly credited or computed pensions.