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Manila Bulletin devider Business devider SSS releases 13th-month pension

SSS releases 13th-month pension

Published Dec 5, 2019 12:00 am
By Chino S. Leyco Pensioners of the Social Security System (SSS) will receive their yearned bonus starting today. Aurora C. Ignacio, SSS president and chief executive Aurora C. Ignacio, SSS president and chief executive In a statement, Aurora C. Ignacio, SSS president and chief executive, said yesterday that the pension fund has released ₱12.71 billion for the 13th month pension of more than 2.83 million pensioners. Ignacio said 13th month pension will be released both thru-the-banks and thru-checks. “We have already requested our partner banks to credit the 13th month pension to the respective savings accounts of our pensioners on or before December 6 so that they could enjoy the money in time for the holiday season,” Ignacio said. The amount of 13th month pension released this year was 7.6 percent higher than the ₱11.81 billion released for 2018 following the increase in the number of pensioners from 2.64 million on the said period. Of the total number of pensioners who will receive their 13th month pension, majority or about 2.82 million will receive it through their assigned bank accounts while the remaining 14,000 will still receive it through check payments. “The checks were released and mailed as early as November 26 so that our pensioners will receive it on time for the Christmas season,” Ignacio said. “We are hoping that we will eventually shift 100 percent of our pensioners to through-the-bank system for faster, convenient and more secure way of receiving their benefits from the SSS,” he added. SSS also reminded the pensioners that the basis of the 13th month pension is the basic monthly pension of a pensioner excluding the dependent’s pension if any.
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