What is the abbreviation for the Government Service Insurance System created under the relevant Commonwealth Act?

What is the abbreviation for the Government Service Insurance System created under the relevant Commonwealth Act?

• A. SSS
• B. GSIS
• C. IRS
• D. PAG-IBIG

Answer: (B)

The abbreviation for the Government Service Insurance System is GSIS. This system was established to provide social security benefits to employees in the government sector, including life insurance and retirement pensions. The creation of GSIS was a crucial development in ensuring financial security for government workers under various circumstances, such as illness, disability, or after retirement. The other choices represent different organizations or programs. For instance, SSS stands for the Social Security System, which caters primarily to private sector employees. The IRS typically refers to the Internal Revenue Service, which is unrelated to insurance systems in the Philippines, and PAG-IBIG is the Home Development Mutual Fund, aimed primarily at providing savings programs and loans for housing to workers in the country. Each of these entities serves distinct functions that are separate from the objectives of GSIS. This clarity about the purpose and abbreviation of GSIS reinforces the understanding of government-related insurance systems in the context of labor and employment in the Philippines.

The abbreviation for the Government Service Insurance System is GSIS. This system was established to provide social security benefits to employees in the government sector, including life insurance and retirement pensions. The creation of GSIS was a crucial development in ensuring financial security for government workers under various circumstances, such as illness, disability, or after retirement.

The other choices represent different organizations or programs. For instance, SSS stands for the Social Security System, which caters primarily to private sector employees. The IRS typically refers to the Internal Revenue Service, which is unrelated to insurance systems in the Philippines, and PAG-IBIG is the Home Development Mutual Fund, aimed primarily at providing savings programs and loans for housing to workers in the country. Each of these entities serves distinct functions that are separate from the objectives of GSIS. This clarity about the purpose and abbreviation of GSIS reinforces the understanding of government-related insurance systems in the context of labor and employment in the Philippines.