DBM Settles P6.92B In Teachers’ Arrears

Thousands of public school teachers may soon enjoy higher benefits from the Government Service Insurance System (GSIS) after the Aquino administration finally agreed to pay overdue contributions from 1997 to 2010.

The Department of Budget and Management (DBM) has committed to settle P6.92 billion in unpaid premiums of Department of Education (DepEd) personnel, representing government share in the past 13 years, while the GSIS will condone P14 billion in interest charges.

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GSIS invests in infra fund

State-run Government Service Insurance System (GSIS) said yesterday that it will invest in the Philippine Investment Alliance for Infrastructure (PInAI).

Robert G. Vergara, GSIS president and general manager, said that the pension fund will be the lead investor in the P25 billion infrastructure fund and a vehicle that will enable foreign investors to participate in the country's core infrastructure projects.

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