MANILA, Philippines - State pension fund Government Service Insurance System (GSIS) will introduce this July the Electronic Billing and Collection System (eBCS), a Web-based application that will enable GSIS to send its billing statements for premium and loan amortization to government agencies electronically, and accept payments online.
The eBCS will be used by government personnel in charge of approving and remitting payments to GSIS, particularly the finance and electronic remittance file (ERF) officers, or those who prepare the agency’s ERF that contains the list of members and their monthly remittances.
The system will allow government agencies to download GSIS billing statements, upload the ERF, and review the account history of members.
It will also generate reports that will enable agency remitting officers to check, update data, and correct errors right away 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.
At present, GSIS is training the finance and remitting officers of all government agencies nationwide on how to use eBCS.
“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,†president and general manager Robert G. Vergara said.
Vergara added that it will “save time and government resources on the part of remitting officers who can do all the work, including payment of GSIS bills, in the comfort of their offices.â€
Since the billing file can be downloaded as early as the first day of the month, remitting officers can also prepare the remittance file early and will have more time to check any discrepancy between the billing and the remittance files.
“This will ensure the seamless and efficient posting of payments, ultimately resulting in the accurate computation of the benefit proceeds of members,†Vergara said.