Gsis loan updating
“Fellow teachers and public servants, we are under the attack of neoliberal reforms that maintain meager salary, deficient benefits, oppressive tax reform and rotting education system,” said ACT chairperson Benjamin Valbuena in a statement.
ACT cited that although Section 47 of the General Appropriations Act of 2017 authorizes the deduction of employees’ contributions or obligations from their salaries, it also said that such deductions should not reduce the employee’s monthly net take home pay to lower than P4,000 ().
He said teachers and other education personnel are already in a cycle of indebtedness since there was no significant increase in their salaries.
ACT has been criticizing government’s salary increase as “mere alms” as it has not even reached the family living wage (FLW) set by Ibon Foundation, at P1,145 () a day.
These loans are the regular loan, policy loan, summer one-month salary loan, and the emergency loan assistance.
According to GSIS, one positive factor of this Conso-loan is the length of repayment period, which is stretched to six years and the condemnation of outstanding penalties and surcharges of previous loans.
The FLW is the amount needed by a low-income family of six to live decently each day.
Read also: Teachers protest SSL 2015 “To be able to survive, education personnel have been victims of loan sharks,” Valbuena said.
GSIS emphasized that for a member to be able to enjoy the Conso-loan, the agency where he belongs should not be on the suspended list of the GSIS due to arrearages; the member has had no administrative charge and his take-home pay should be sufficient to pay the loan.Valbuena also scored how Briones sees “financial literacy” will help teachers, without actually raising their salaries.“Queuing loan payments and maintaining the net take home pay will not solve the problem unless salaries will meet the standard cost of living,” he said.This weekend, teachers reported to ACT that they received salaries as low as P200 ().
The Facebook pages of ACT and ACT-National Capital Region (NCR) were bombarded by teachers’ complaints and grievances.MANILA – The Alliance of Concerned Teachers (ACT) denounced the Department of Education (Dep Ed) for making “arbitrary” deductions from teachers’ salaries to pay for the debts they have incurred from the Government Services Insurance System (GSIS) and private lending institutions (PLIs).Education Secretary Leonor Briones reportedly wanted to teach “financial literacy” to resolve teachers’ overborrowing.Even those with current accounts will also benefit from the program, as their monthly amortization will be reduced through an extended payment term if they apply for restructuring.