Pensioners of the Government Service Insurance System (GSIS) and Social Security System (SSS) will receive this week their Christmas cash gifts. These amounts are composed of the 13th month pay and their regular monthly pensions for pensioners of the SSS. Meanwhile, the state pension fund for government workers will release ₱3.35 billion in Christmas cash gift to more than 328,000 old-age and disability pensioners starting Dec. 6.
This comes as a whiff of good tidings for retirees and pensioners, many of whom are weak, sick, or confined to their homes and vulnerable to economic hardships because of their long separation from work.
At the onset of the Christmas season when active, employed workers are happy counting their Christmas bonuses and 13th month pay, the elderly who had given the best days of their working lives serving the government or private companies also need the same caring.
The two state-owned pension funds announced on Thursday 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 they will release around ₱29.74 billion covering 3.36 million pensioners. He added that SSS pensioners will be receiving both their 13th month and December 2022 pensions as early as the first week of this month.
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, meanwhile, 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. The 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 ₱3.35 billion in Christmas cash gifts 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 ₱10,000.
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.
It is to the credit of both the past Duterte administration and the present Marcos administration that both the SSS and the GSIS are able to maintain their robust finances despite the Covid-19 pandemic and disruptions in the global financial world brought about by geopolitical problems.
We hope these state pension funds will continue being managed well, avoiding unnecessary investment risks, and most especially shoring up internal operations and procedures to check attempts at graft and corruption.