The Government Service Insurance System (GSIS) and Social Security System (SSS) have set aside P33 billion in Christmas cash gifts for pensioners.
The two state-owned pension funds announced on Thursday, Dec. 1, that their respective yearend bonuses to about 3.7 million old-age and disability pensioners will be released ahead of the Holiday season.
Michael G. Regino, SSS president and chief executive officer, said the pension fund for the private sector is set to release around P29.74 billion covering 3.36 million pensioners.
According to Regino, SSS pensioners will be receiving both their 13th month and December 2022 pensions as early as the first week of the month.
“This year, we have also pushed for the early crediting of the 13th month and December 2022 pensions so that our pensioners can withdraw them ahead of the holiday rush,” Regino said.
On Dec. 1, the SSS released the first batch of the pensions covering pensioners with dates of contingency within the first to the 15th day of the month.
The second batch, on the other hand, is set to be released on Dec. 4, covering pensioners with dates of contingency within the 16th up to the last day of the month.
Since Dec. 4, falls on a Sunday, pensioners who are set to receive their pensions on that date can expect that these will be credited to their account starting on Dec. 2.
SSS also requested its accredited non-PESONet participating banks to release the pensions to their SSS-pensioner clients no later than Dec. 4.
It has also requested the Philippine Postal Corp. to expedite the delivery of the checks of its pensioners who are receiving their pensions in this manner.
Pensioners who are qualified to receive the 13th month pension are SS retirement pensioners, and SS and Employees’ Compensation survivor, and total disability pensioners, including partial disability pensioners with pension duration of not less than 12 months.
Meanwhile, Wick Veloso, GSIS president and general manager, said the pension fund for state workers is set to release P3.35 billion in Christmas cash gift to more than 328,000 old-age and disability pensioners starting Dec. 6.
Veloso said GSIS pensioners will receive an amount equivalent to their one-month pension up to a maximum of P10,000.
Qualified to receive the Christmas cash gift are old-age and disability pensioners under Republic Act No. 8291; Presidential Decree No. 1146; and Republic Act 660 who are receiving their regular monthly pensions and are living as of Nov. 30, 2022.