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CvSU MANUAL OF OPERATIONS
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f) Death (Life Insurance and Funeral)

g) Unemployment benefit will be payable to eligible members who will
be voluntarily separated from the service due to reorganization,
merger or privatization.

h) The separation benefit consisting of cash payment of 18 times the
BMP at time of separation and a life pension to start at age 60 will
be given to those who separate from the service with at least 15
years service and are below 60 years of age. Under PD No.1146,
the old law, the separated member will have to wait until he is 60
years of age to receive any separation benefit.

i) A member who has rendered at least three years but less than 15
years of service is eligible for separation benefit in the form of a
cash payment equivalent to 100 percent of the Average Monthly
Compensation for every year of service payable upon reaching age
60 or upon separation, whichever comes later, if he is not receiving
a monthly pension benefit from total disability.

j) A member who has rendered at least 15 years service and who is
below 60 years of age at time of resignation or separation is eligible
for separation benefit in the form of cash payment equivalent to 18
times Basic Monthly Pension payable at time of separation plus the
basic monthly pension for life starting at age 60.

Section 4. The following are the benefits paid to GSIS member:

- Maturity - Burial - Death Claim
- Dividends - Cash Surrender Value - Retirement
- Accidental Death - Unemployment * - Separation*
- Disability (permanent, partial and temporary)

Section 5. Loans that may be availed of by a GSIS member:
- Salary Loan - Educational Loan - Housing Loan
- Policy Loan - Calamity Loan

Section 6. Retirement benefits of government employees are covered
by Republic Acts (RA) as follows:

a) RA 1616

The members have completed at least 20 years of
government service irrespective of age and status of
appointment.
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