CHIZ CALLS FOR PROBE OF GSIS PENSION FUNDS USE

Opposition Sen. Chiz Escudero yesterday filed a resolution asking the Senate to investigate the use of GSIS funds particularly the funds of retired government employees to address complaints of delays in remittances to pensioners.

"The GSIS leadership needs to explain the delays in the remittances of our retired employees, most of whom depend solely on these funds," he said.

The 40-year old lawmaker acted on a published complaint by the Association of Retired Government Employees Pensioners, Inc. (ARGEP, Inc. Phils.) last September 27, 2009.

The association also requested the GSIS to rescind the policy of postdating pension checks. It noted that this was corrected by the GSIS upon its request but this was later changed by the GSIS when it began to date checks from the 1st to 8th day of every month instead of every 1st day of every month.

Escudero said the concerns of the ARGEP, Inc. Phils. are "quite valid, pertinent and apt at present time" especially since the reported Php1 billion peso release of the GSIS to the national government happened in 2004 -- an election year.

"It is but natural and logical to be vigilant as ever on the use of the GSIS funds and to insist on what the law mandates for the use of these funds," he said.

Escudero called on the Senate Committee on Government Corporations and Public Enterprises to conduct the inquiry in aid of legislation into the use of the GSIS funds.