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Sunday, December 10, 2023

GSIS to release P3.47 billion in Christmas cash gift to old-age pensioners

State pension fund Government Service Insurance System (GSIS) said it will start releasing on Dec. 6 more than P3.47 billion in Christmas cash gift to old-age and disability pensioners.

GSIS president and general manager Wick Veloso said more than 300,000 qualified GSIS pensioners would receive Christmas cash gift equivalent to one-month pension up to a maximum of P10,000. He said the amount would be credited to the pensioners’ GSIS eCard.

Veloso said that GSIS old-age and disability pensioners who are receiving regular monthly pensions and are alive as of Nov. 30, 2023 are qualified to receive the Christmas cash gift.

He said not eligible for the Christmas cash gift are survivorship pensioners, dependent pensioners, pensioners under Republic Act No. 7699 (Portability Law) and those receiving pro-rata pension.

New pensioners from 2019 to 2023 who availed of immediate pension and 18-month cash payment under Republic Act 8291 are also not yet entitled to receive the cash gift. They will start receiving their Christmas cash gift five years after their retirement date.

Retirees who have availed of five-year lump sum and who will resume their regularly monthly pension after Dec. 31, 2023 are also not eligible for the benefit.

GSIS members who were separated from government service from 2006 to 2023 before reaching 60 years old and who started receiving their regular monthly pension between 2019, 2020, 2021, 2022 and 2023 are not qualified. They will only receive the cash gift five years after regularly receiving their pension, he said.

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