State-run Government Service Insurance System (GSIS) said that its pensioners will start receiving their Christmas cash gifts by early next week.
In a statement, Rolando Ledesma Macasaet, GSIS president and general manager, said the pension fund has allotted P3.2 billion for the 2021 Christmas bonus to its old-age and disability pensioners.
According to Macasaet, the releases of the Christmas cash gifts will begin on Monday, Dec. 6.
For pensioners who received more than P10,000 in cash gift in 2020, they will be granted an amount equivalent to one-month current pension but not exceeding P12,600.
For those who received P10,000 and below in 2020, they will receive a cash gift equivalent to one-month current pension up to a maximum of P10,000.
Those who resumed their regular monthly pensions after December 31, 2020, or after the five-year guaranteed period, will be given an amount equivalent to one-month current pension up to P10,000.
Qualified to receive the cash gift are old-age or disability pensioners who are living as of November 30, 2021 and retired under Republic Act (RA) No. 8291 (GSIS Act of 1997), Presidential Decree No. 1146, and RA 660 (Magic 87).
For those who are on suspended status due to non-compliance with the Annual Pensioners Information Revalidation (APIR), they will be eligible to the cash gift provided they activate their status on or before April 30, 2022.
Survivorship pensioners, dependent pensioners, pensioners under RA 7699 (Portability Law), and those receiving pro-rata pension are not eligible for the Christmas Cash Gift.
New retirees from 2017 up to 2021 who availed of immediate pension under RA 8291 will receive their first annual Christmas Cash Gift five years after their retirement date.
For retirees who availed of the five-year lump sum, they will be entitled to the benefit after the five-year guaranteed period or once they start receiving their monthly pension.
Similarly, members who were separated from service from 2006 to 2021 before reaching the age of 60 and who started receiving their regular monthly pension between 2017 and 2021 will be entitled to the cash gift once they have been regular pensioners for at least five years.