Republic Acts1 min read
Section 2Sec./Art. 2
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Definition of Terms. As used in this Act, unless the context indicates otherwise, the following terms shall mean:
(a) "Contributions" shall refer to the contributions paid by the employer or worker to either the Government Service Insurance System (GSIS) or the Social Security System (SSS) on account of the worker's membership;
(b) "Portability" shall refer to the transfer of funds for the account and benefit of a worker who transfers from one system to the other;
(c) "Sector" shall refer to employment either in the public or private sector;
(d) "System" shall refer to either the SSS as created under Republic Act No. 1161, as amended, or the GSIS as created under Presidential Decree No. 1146, as amended; and
(e) "Totalization" shall refer to the process of adding up the periods of creditable services or contributions under each of the Systems, for purposes of eligibility and computation of benefits.
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