The Power Sector Assets and Liabilities Management (PSALM) Corporation, in a significant collaborative effort with the Government Service Insurance System (GSIS) and National Power Corporation (NPC), signed a memorandum of agreement (MOA) for the settlement of premium contributions and corresponding interest of NPC’s Drivers and Mechanics Association (DAMA) claimants.
This ceremonial event marks a pivotal milestone in the history of DAMA claims settlement, bringing resolution to the GSIS premium contributions and corresponding interest for 1,233 DAMA claimants, as validated by the Commission on Audit (COA).
“For our part, PSALM has always and will continue to take proactive action in providing the necessary fund replenishment to settle the claims following regulations and latest resolutions from the Commission on Audit and other concerned government offices,” stated PSALM President and CEO Dennis Edward A. Dela Serna.
The signing ceremony was administered at PSALM’s Caliraya-Botocan-Kalayaan Rooms, located on the 10th floor of Vertis North Corporate Center 1, Quezon City. Top officials from PSALM, GSIS, and NPC attended the event to symbolically honor the rightful entitlements of the unrehired DAMA claimants.
With the official signing of the MOA by PSALM, NPC, and GSIS, and PSALM’s subsequent release of funds to GSIS, DAMA claimants who have already received their compensation from NPC may now proceed to request pension recomputation with GSIS. This can be done by filing the Member’s Request Form with GSIS.
This agreement underscores the commitment of the involved government agencies to address long-standing claims and ensure the rightful entitlements of the affected individuals.
