According to reliable information, the GSIS data is 30 percent accurate and 70 percent wrong. This inaccuracy of the GSIS data explains the errors in the records of loan repayments, remittances of premium payments and other relevant information needed in the GSIS, and its members.
This inaccurate GSIS data is seemingly the truth as the GSIS warned it “will launch a series of legal actions against the IBM for incalculable damages that the pension fund sustained due to defective com-puter software”. This announcement published in the PDI issued on May 26, 2009 is an admission GSIS data are defective.
According to the GSIS chief legal counsel Estrella Elamparo, GSIS has sent two demand letters “asking IBM for a permanent solution to the problems”. The final demand letter was sent to IBM president and CEO Samuel J. Palmisano.
However, IBM Philippines rejected com-pletely the GSIS claims. In a statement, IBM said, they are disappointed with the approach the GSIS has taken. GSIS executive vice president Consuelo Manansala revealed the GSIS is having backlog. There is now 20,000 claims pending due to the “crash”. Most of those claims are of government employees who retired recently. With the system breaking down, the backlog is piling up, Manansala stressed.
In Aklan, payment of monthly pensions was delayed one week in May, 2009. /MP
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