MANILA, Philippines - The Government Service Insurance System (GSIS) will roll out an electronic billing collection system (eBCS) that will allow the state pension fund to send its billing statements for premium and loan amortization to government agencies as well as accept payments online.
“The online billing and electronic payment will save GSIS millions of pesos in postage and courier expenses as files will change hands electronically at no cost,†GSIS president and general manager Robert G. Vergara said.
To be introduced in July, the eBCS will enable government agencies to upload the electronic remittance file which contains the list of members and their monthly remittances, and review the account history of members.
The system will also generate reports that will allow GSIS members to check, update data, and correct errors before remitting payments online, making their jobs easier and faster.
Under eBCS, the pension fund will notify remitting agencies through email on the first and 15th day of the month to inform them that they can already download the billing statement from the system.
The remittance list may then be uploaded by the remitting officers who will match it with the billing statement. Should both files match, the agency could already pay the amount due the GSIS online.
Agencies that lack online capability may still pay either over the counter or through banks.
To facilitate the payment of remittances, eBCS will be electronically linked to servicing banks accredited by the pension fund.
The GSIS is currently training the finance and remitting officers of all government agencies nationwide on how to use eBCS.
The electronic billing and collection system is in line with the Expanded Modified Direct Payment Scheme (ExMDPS) of the Department of Budget and Management that adopts uniform payment procedures in the settlement of bills to all creditors and payees of National Government agencies, including GSIS.