Latest Breaking News On - Sis posteda strong cash position in 2020 at php26 billion quot our flow projection for the next five years shows that we can cover all obligations - Page 1 : comparemela.com

MANILA - State pension fund Government Service Insurance System (GSIS) is not affected by its recent shift to Philippine Financial Reporting Standard (PFRS) 4 and is capable of paying its financial obligations to members and pensioners. PFRS 4 requires the reporting of future social benefit liabilities in its financial statement. GSIS president and general manager Rolando Macasaet said in a statement on Friday that there will be no disruption in the payment of benefits to its members and pensioners as "the new accounting standards "will not adversely affect our capability to provide their benefits, as and when they fall due." In its audited 2020 financial statements, GSIS posted a strong cash position in 2020 at PHP26 billion. "Our cash flow projection for the next five years shows that we can cover all our obligations," Macasaet said. "PFRS 4 offers an understanding of the longer-term financial sustainability of GSIS that involves projections and economic

Government service insurance systemRolando macasaetCommission on auditPhilippine financial reporting standardPolicy guidelinesAssistance loanManila state pension fund government service insurance system gsis is not affected by its recent shift to philippine financial reporting standard pfrs 4 and capable of paying obligations members pensioners requires the future social benefit liabilities in statement president general manager rolando macasaet said ina on friday that there will be no disruption payment benefits as quot new accounting standards adversely affect our capability provide theirS and when they fall due quot in its audited 2020 financial statementsSis posteda strong cash position in 2020 at php26 billion quot our flow projection for the next five years shows that we can cover all obligationsUot macasaet said quot pfrs 4 offers an understanding of the longer term financial sustainability gsis that involves projections and economicsHich is beyond the scope of financial statements ultimatelyEmbers and pensioners should be more interested in the pension fund 39s existing obligationsProjected incomeRojected cash outflowFunding gapNd what the current administration plans to do address such issues