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CvSU MANUAL OF OPERATIONS
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• The last 3 years of service must be continuous
• Leave of absence without pay should not exceed
one year during the last three years of service
• The member must be in the service as of 31 May
1977

Benefits payable by GSIS under RA 1616: Refund of
retirement contributions, personal share with 3 percent interest
and government share without interest which shall be
processed by the GSIS including the maturity of policy contract
or cash surrender value of the policy.

b) RA 8291 - otherwise known as the GSIS Act of 1997 was
enacted last 30 May1997 and took effect on 24
June 1997.

Eligibility:

• He /She has rendered at least 15 years of service

• He/She is at least 60 years of age at time of
retirement.

• He/She is not receiving a monthly pension benefit
from permanent

• total disability

Under this law, a retiree may choose any of the two options:

1) The 5- year lump sum (60 x basic monthly pension) for
life starting at the end of the 5-year guaranteed
period; or

2) The cash payment (18 x basic monthly pension) plus
the basic monthly pension for life starting immediately
upon retirement.

c) RA 660

He /She must pass the “Magic 87 “criteria, that is, when
the length of service and age of retirement are summed up, the
total is at least “87”. These last three years of service must be
continuous.

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