Directing the Government Service Insurance System (GSIS), as the Administrator of the Public Sector State Insurance Fund (SIF), to Conduct an Actuarial Study Prior to the Grant of Carer's Allowance to EC Pensioners in the Public Sector

August 26, 2011ECC BOARD RESOLUTION NO. 11-08-19DIRECTING THE GOVERNMENT SERVICE INSURANCE SYSTEM (GSIS), AS THE ADMINISTRATOR OF THE PUBLIC SECTOR STATE INSURANCE FUND (SIF), TO CONDUCT AN ACTUARIAL STUDY PRIOR TO THE GRANT OF CARER'S ALLOWANCE TO EC PENSIONERS IN THE PUBLIC SECTORExcerpts from the Minutes of the Seventh (7th) Regular Commission Meeting, Employees' Compensation Commission, Series of 2011, Convened at the Old Swiss Inn, G/F Somerset Olympia, Makati Ave., Makati City, Friday, August 26, 2011 at 9:00 A.M.WHEREAS, Article 177 (e) of P.D. No. 626, as amended partly reads: "Art. 177 (e) . . . the Commission may upgrade benefits and add new ones subject to approval of the President; and Provided, Further, That the actuarial stability of the State Insurance Fund shall be guaranteed; Provided, Finally, that such increases in benefits shall not require any increases in contribution . . ."WHEREAS, on December 20, 1990, this Commission passed Board Resolution No. 90-12-0090, approving the grant of Carer's Allowance in the amount of Three hundred fifty pesos (Php350.00) as supplemental pension to EC pensioners...