The Social Security System (SSS) started to credit on Friday afternoon the first batch of November pension through its new disbursement method using online and checkless disbursement channels.

SSS President and CEO Aurora Ignacio said that those covered by the first batch of crediting are pensioners whose date of contingency is from the first to the 15th day of the month and are receiving their monthly pensions through PESONet participating banks, e-wallets, or accredited remittance transfer companies or cash payout outlets.

"For November 2020, given that its first day is a weekend and a declared holiday, we have completed the funding of the first batch of pension for November 2020 yesterday, October 29. Upon receipt of the funds, our government partner bank DBP will release them to other PESONet participating banks, e-wallets, and M Lhuillier before 12 noon Friday," Ignacio said in a statement.

According to Ignacio, the first batch of November 2020 pension releases covers more than 1.46 million pensioners with combined pensions for the month amounting to over P6.22 billion.

Meanwhile, the second batch will be on the 16th day of the pension month, which covers pensioners whose date of contingency is from the 16th to the last day of the month.

But should the credit date falls on a Saturday, Sunday, or holiday, Ignacio explained that the pension will be credited to the pensioners' accounts on the last working day.

The SSS explained that the retiree-pensioners' date of contingency is the date they have paid at least 120 contributions and have reached the age of at least 60 years (for optional retirement, except for mineworkers and racehorse jockeys) if already separated from employment or ceased self-employment; or the age of 65 years (for technical retirement, except for mineworkers and racehorse jockeys).

For disability pensioners, the date of contingency is the date of their operation, sickness, or disability, as evaluated by the SSS, while for survivor (death) pensioners, the date of death of the deceased member.

The schedule of crediting of accrued pensions for the resumption of suspended pension due to non-compliance with the Annual Confirmation of Pensioners (ACOP) program is on the 16th day of the following month after compliance with the ACOP has been received and encoded. The pension run for the resumption is done every 20th day of the month.

Meanwhile, pensioners who are still receiving their pensions through non-PESONet participating banks or checks will continue to receive their pensions through their accounts until further notice. 

The crediting schedule of their pension will follow the previous disbursement schedule, based on their date of contingency which would give them ample time to enroll in a PESONet bank, e-wallet, or RTC/CPO disbursement account with the SSS and their banks to pursue PESONet participation.