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WHEREAS, the Board issued Resolution No. 69 dated 11 June 2014 approving the Policy Allowing a Change in Retirement Date, Retirement Mode, and/ or Retirement Benefit Option under RA 8291, thereby amending Sections 20.3 and 20.4 of the Revised Implementing Rules and Regulations of R.A. No. 8291, as approved through Board Resolution No. 88 dated 23 June 2010;

WHEREAS, under Board Resolution No. 69-2014, the change in retirement benefit option is allowed only for those who retired under RA 8291, provided that no retirement proceeds have been paid through e-crediting to the member’s bank account or receipt by the member or the latter’s authorized representative;

WHEREAS, in the spirit of fairness and per constitutional guarantee of equal protection of the law, there is a need to amend Board Resolution No. 69-2014 to include all other retirement modes as applicable, i.e. PD 1146, in allowing conversion of retirement benefit option;

WHEREAS, there is a need to amend the word “Receipt” in paragraph a(2) of the conditions/requirements of Board Resolution No. 69-2014 to “Negotiation” (either  through  bank  deposit  or  encashment), pursuant  to  paragraph  (1)  of Articles 1231 and 1249 of the Civil Code of the Philippines;

RESOLVED, to APPROVE and CONFIRM the Revised Policy Allowing a Change in Retirement Date, Retirement Mode, and/ or Retirement Benefit Option under R.A. No. 8291 and P.D. No. 1146 through the following amendments to Board  Resolution  No.  69-2014,  as  proposed  by  the  Chairperson  of  the Committee on Claims in his Memorandum dated 12 February 2018;

From:

Policy  Allowing  a  Change  in  Retirement  Date,  Retirement  Mode,  and/  or Retirement Benefit Option under RA 8291

A  member, after filing an  application for  retirement, may still  be  allowed to request for conversion of retirement mode, change in retirement option, and/ or change in retirement date, subject to the following conditions/requirements:

Request	Conditions / Requirements
1. Conversion of retirement mode from RA  8291 to any other retirement mode administered by GSIS and vice versa	a. The member has not yet been paid his/her retirement proceeds through any of the following means: 1. eCrediting to the member’s bank account; 2. Receipt of the check by the member or his/her authorized representative.       b. Submission of a written request to the GSIS branch office/ department where the application was filed.
2. Change in retirement benefit option under  RA 8291, from 18 months cash payment plus immediate pension, to 5-year lump sum, and vice versa	Same as item number 1.
3. Change in Retirement Date	a. Same as item number 1. b. The member has continued his/her government service, without gap or break in the service from the original retirement date indicated in the application form that was used by the GSIS as the basis in processing the retirement benefits, up to the date when the member has finally chosen to retire or upon reaching the compulsory retirement age, whichever comes first.

To:
Revised Policy Allowing a Change in Retirement Date, Retirement Mode, and/or Retirement Benefit Option under R.A. No. 8291 and P.D. No. 1146

A  member, after filing an  application for  retirement, may still  be  allowed to request for conversion of retirement mode, change in retirement option, and/or change in retirement date, subject to the following conditions/requirements:

Request	Conditions / Requirements
1. Conversion of retirement mode from RA 8291 to any other retirement mode administered by GSIS and vice versa	a. The member has not yet been paid his/her retirement proceeds through any of the following means: 1. eCrediting to the member’s bank account; 2. Negotiation of the check either through bank deposit or encashment by the member or his/her authorized representative.       b. Submission of a written request to the GSIS branch office/department where the application was filed
2. Change in retirement benefit option under  RA 8291, from 18 months cash payment  plus immediate pension, to 5-year lump sum, and vice versa	Same as item number 1.
3. Change in retirement benefit option under PD 1146, from 5-year lump sum and pension at age sixty (60) to immediate pension, and vice versa	Same as item number 1.
4. Change in Retirement Date a.	Same as item number 1. b. The member has continued his/her government service, without gap or break in the service, from the original retirement date indicated in the application form that was used by the GSIS as the basis in processing the retirement benefits, up to the date when the member has finally chosen to retire or upon reaching the compulsory retirement age, whichever comes first.

RESOLVED FURTHER, that Board Resolution No. 69 dated 11 June 2014, approving the Policy Allowing a Change in Retirement Date, Retirement Mode, and/or Retirement Benefit Option under RA 8291, is hereby AMENDED and/or REVISED accordingly;

RESOLVED FINALLY, that the Revised Policy Allowing a Change in Retirement Date, Retirement Mode, and/or Retirement Benefit Option under R.A. No. 8291 and P.D. No. 1146 shall take effect fifteen (15) days after publication in a newspaper of general circulation.

Certified Correct:

(SGD) JESUS CLINT O. ARANAS Vice Chairman	(SGD) JOCELYN DE GUMAN CABREZA Trustee
(SGD) ALAN R. LUGA Trustee	(SGD) NINA RICCI YNARES-CHIONGBIAN Trustee
(SGD) ANTHONY B. SASIN Trustee	(SGD) KAHAR H. MACASAYON Trustee