GSIS execs receive P6M annual income each

Aug 27, 2010

MANILA – Senator Franklin Drilon on Thursday said that each members of the board of trustees of the Government Service Insurance System (GSIS) have been receiving about P6 million income yearly. Drilon said during third Senate hearing on the excessive allowances of government owned and controlled corporations (GOCCs) and government financial institu-tions (GFIs) that such annual income was “excessive and totally unjustified.”

Citing a document submitted by GSIS, Drilon said each board member gets P600,000 mid-year
bonus; 15th-month pay of P600,000; productivity bonus of P2.4 million (P600,000 per month); Christmas representation allowance of P250,000; and P40,000 transportation allowance.