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AFPSLAI

Termination of Membership

  1. Requirements for Voluntary Termination

    1. Voluntary Termination Form
    2. AFPSLAI ID/Passbook(s)
    3. Additional valid ID
    4. Certificate of Last Payment from Finance Center – for active/discharge/retired members (to include civilian employees) of the AFP/PNP/BFP/BJMP with outstanding Salary/EL Loan and capital contribution remittance effected while still in the active service.

    If receiving pension through AFPSLAI

    1. Certificate of Pension Transfer to other institutions or any proof that pension remittance to AFPSLAI has already stopped.

    If enrolled in APEX or ATM

    1. Duly accomplished APEX or ATM closure of account form

    If with existing capital contribution deduction from payroll, member has the option to:

    1. Fill-out stoppage of salary deduction from then apply for membership termination upon effectivity of stoppage. Latest pay slip without AFPSLAI deduction form must be presented.
    2. Terminate right away and claim overpayment later upon AFPSLAI’s receipt of remittance from the Finance Center

    Additional Notes:
    • In case of lost ID/passbook, submit a duly-notarized Affidavit of Loss (AOL) explaining the circumstances of the loss of the same.
    • Additional valid ID to be submitted includes AFP/PNP/BFP/BJMP IDs or other IDs issued by AFPSLAI-recognized institutions, Company ID, GSIS/SSS/PAG-IBIG ID, TIN, Voter’s ID, Driver’s License Latest Police/NBI Clearance.


  2. Requirements for Termination due to Death

  3. With Survivorship Agreement regardless of amount
    1. Accomplished Membership Termination Form / Closure to Account Due to Death Form
    2. PSA-certified Death Certificate of Deceased Member or Death Certificate with Registry Number or Declaration of Presumptive Death
    3. Duly-notarized Affidavit of Undertaking
    4. AFPSLAI ID/Passbook(s)
    5. 2 valid IDs of Claimant
    Without Survivorship Agreement
    Capital Contribution Account/Savings Deposit/SD Remittance/Time Deposit Account - Php 50,000 and below
    If member died single, proceeds will be automatically given to the surviving parents;
    if member is married, proceeds will be automatically given to surviving spouse
    1. Accomplished Membership Termination Form / Closure to Account Due to Death Form
    2. PSA-certified Death Certificate of Deceased Member or Death Certificate with Registry Number or Declaration of Presumptive Death
    3. Duly-notarized Affidavit of Undertaking
    4. AFPSLAI ID/Passbook(s)
    5. 2 valid IDs of Claimant
    6. Certificate of Legal Beneficiaries
    7. PSA-certified proof of relationship of claimant to deceased member (i.e. Marriage Contract or Birth Certificate, as applicable)
    Capital Contribution Account/Savings Deposit/SD Remittance/Time Deposit Account - Above Php 50,000
    All surviving legitimate heirs of deceased member, whether married or single, shall be entitled to the termination proceeds according to the rules on intestate succession:
    1. All requirements stated under accounts without survivorship agreement above plus PSA-certified proof of relationship of all claimants/heirs to the deceased member. If claimants are married, present marriage contract or valid ID containing married name.
    2. Optional requirement: Duly-notarized or Consulated (if heirs reside abroad), Waiver of Right from Other Legal Claimants in favor of one claimant alone supported by authenticated copies of at least 2 valid IDs of claimants who waived with legible signatures.
    3. Affidavit of Guardianship
    Pension Account - Regardless of Amount
    1. Accomplished Membership Termination Form / Closure to Account Due to Death Form
    2. PSA-certified Death Certificate of Deceased Member or Death Certificate with Registry Number or Declaration of Presumptive Death
    3. Duly-notarized Affidavit of Undertaking
    4. AFPSLAI ID/Passbook(s)
    5. 2 valid IDs of Claimant
    6. Letter/Certificate of Refund of Pension from PVAO/Finance Center (c/o BCD-AFPSLAI)
    7. Declaration of Legal Beneficiaries/Decree of Final Distribution - applicable only to AFP/PNP pension (no need to submit if the pension is from PVAO)
    8. Duly-notarized Affidavit of Guardianship for Children of Minor Age/s
    Special Requirements
    1. Certificate of Last Payment from Finance Center (for active AFP/PNP/BJMP/BFP/civilian members with salary/emergency/multi-purpose and other applicable loan and automatic capital contribution remittances
    2. Special Power of Attorney (for transactions through representatives)

    NOTE: Additional requirements, as determined by the Branch Manager, may be required for complicated claims (i.e. multiple claimants, lack of claimants, unclear identity, etc)

Procedures

  1. Voluntary Termination
    1. Beneficiary proceeds to the Membership Section.
    2. Beneficiary submits duly filled out Termination Form together with the requirements.
    3. Membership Staff evaluates requirements submitted by the member, and verifies accountabilities of member (deposit and loans).
    4. If member has accountabilities, over-the-counter cash payment, account offsetting shall be allowed.
    5. Teller releases net proceeds to the member.
  2. Termination Due Death
    1. Beneficiary proceeds to the Membership Section.
    2. Beneficiary submits duly filled out Termination Form together with the requirements.
    3. Membership Staff verifies account and evaluates requirements.
    4. Membership Staff issues claim stub.
    5. Teller releases proceeds to the beneficiary on the agreed schedule.

FAQs

Q: For voluntary termination, how will the net proceeds be released if it is a joint account?
A: For joint accounts, separate checks shall be issued in the name of each co-depositor, except when the co-depositor has signed a waiver of rights in favor of the other co-depositor.

Q: Why does it take too long to get the account proceeds of deceased members?
A: There are several processes required to be able for AFPSLAI to release account proceeds. Part of the process is applying for termination of membership in which, submission of a Letter of Refund from the concerned finance center. It will also undergo verification from different AFPSLAI offices and its insurance provider for the processing of its Credit Redemption Insurance (if applicable). Depending on the number of requests and feedback from the insurance provider, these processes will take weeks/months to be completed.

Q: What happens to the balances of the accounts of a deceased member?
A: Termination of deceased members does not free the member, its co-maker/s or his estate/termination proceeds from financial obligations. Accounts of deceased members must already be net of loan accountabilities prior to adjustment to Accounts Payable

Q: Why is my membership terminated by AFPSLAI without me voluntary terminating it?
A: There are several reasons why AFPSLAI would initiate termination of a member. These are as follows:

  • Below CCA maintaining balance
  • Non-updating of records for 10 years
  • Non-eligibility (meaning there are no documents submitted to support membership with AFPSLAI)

Q: Can an Associate Member terminate his membership on his own account?
A: Yes, even without the consent of the principal member as long as the account is single.



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