RMC No. 03-2002 — Circularizes Memorandum Circular No. 5-2001 of the Government Service Insurance System which amends Section 11.8.2, Rule Xl of the implementing rules and regulations of R.A. 8291, otherwise known as the GSIS Act of 1997 Digest

REVENUE MEMORANDUM CIRCULAR NO. 3-2002 issued on January 15, 2002 circularizes Memorandum Circular No. 5-2001 of the Government Service Insurance System (GSIS) which amends Section 11.8.2, Rule XI of the implementing rules and regulations of RA 8291, otherwise known as the GSIS Act of 1997. A member who is separated/retired from the service for any reason other than dismissal for cause or total and permanent disability shall cease to be a life insurance member effective as of the date of his/her termination. For members who were separated/resigned/retired prior to September 7, 2001, the termination date of their policies/certificates of membership shall be as of September 30, 2001. For members who were separated/resigned/retired on or after September 7, 2001, their membership shall be automatically terminated as of the date of their separation. In the case of members who were separated from the service prior to the issuance of the Circular and opted to maintain their membership through direct payment of the corresponding premiums--both personal and government share from date of separation to date, they shall be allowed to continue their optional membership until its maturity date or sooner terminated by an earlier contingency.