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Manila Bulletin devider Philippines devider National devider SSS pensioners receive payments on 1st, 16th days

SSS pensioners receive payments on 1st, 16th days

Published Nov 7, 2020 12:42 pm

State-run Social Security System (SSS) said that it has been following a new schedule for the disbursement of monthly pensions since last month using PESONet and other checkless disbursement channels.

The new schedule, SSS said, covers pensioners receiving their pensions through PESONet participating banks, e-wallets, and the Development Bank of the Philippines (DBP)-accredited remittance transfer company or cash payout outlet – M Lhuillier.

Under this, pensioners with dates of contingency from the first to the 15th day of the month will receive their pensions on the 1st day of the pension month (first batch), while those with dates of contingency from the 16th to the last of the month will receive their pensions on the 16th day of the pension month (second batch). 

If the credit date falls on a Saturday, Sunday, or a holiday, the SSS said that the pension will be credited to their accounts on the last working day before the Saturday, Sunday, or holiday.

The SSS said pensions for September were already released to banks in mid-August and were scheduled to be credited to their accounts on their dates of contingency – the old disbursement schedule. 

"After receiving the funds from SSS, some banks are crediting them to their pensioner-client's accounts ahead of the scheduled crediting date, which may be, but not limited to, the last week before or the first week of the pension month," the pension fund said in a statement.

Meanwhile, all pensions for October have also been released by the SSS through PESONet and other checkless disbursement channels, as well as through the old disbursement method for non-PESONet participating banks and checks.

For releases through the new disbursement method, the SSS through DBP credited the funds to PESONet participating banks and other checkless disbursement channels last October 1 for the first batch and October 16 for the second batch, as scheduled.

The SSS earlier announced that it had already credited the first batch of pensions for November to other PESONet banks which are expected to make the pensions available for withdrawal to their clients starting October 30.

Pensioners were also advised to contact their respective depository banks should there be any delay in crediting their pension as the SSS had already disbursed the funds.

SSS said pensioners could check their Pension Payments History in their My.SSS account by clicking on "Inquiry," followed by "Benefits," then "Pension Details."

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