State pension fund Government Service Insurance System (GSIS) is set to release a total P3.35 billion in Christmas cash gift to more than 328,000 old-age and disability pensioners starting December 6.
President and General Manager Wick Veloso said GSIS pensioners would receive an amount equivalent to their one-month pension up to a maximum of P10,000.
This coincided with the announcement by the Social Security System that its pensioners shall be receiving their 13th month and December 2022 pensions as early as the first week of December.
SSS president and chief executive officer Michael Regino said the pension fund would release P29.74 billion covering 3.36 million pensioners.
“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,” he said.
Qualified to receive the Christmas cash gift under the GSIS program are old-age and disability pensioners under Republic Act 8291 (GSIS Act of 1997); Presidential Decree 1146 (Revised GSIS Act of 1977); and Republic Act 660 (“Magic 87”) who are receiving their regular monthly pensions and are living as of November 30, 2022.
In particular, they are the pensioners who availed themselves of the five-year lump sum benefit and who resumed their regular monthly pensions after December 31, 2021 (following the five-year period), and members who separated from the service from 2006 to 2022 before reaching the age of 60 who started receiving their regular monthly pension from 2018 onward, and who have been regular pensioners for at least five years.
Old-age and disability pensioners who are on suspended status as of December 31, 2022 due to non-compliance with the Annual Pensioners Information Revalidation (APIR) will also receive their cash gift after they have reactivated their status.
Meanwhile, the following are ineligible to receive the cash gift: pensioners who availed themselves of the five-year lump sum but will receive their regular monthly pension after December 31, 2022; survivorship and dependent pensioners; pensioners who retired under Republic Act 7699 (Portability Law); and those receiving pro-rata pension.
New retirees from 2018 to 2022 who availed themselves of the 18-month cash payment of their basic monthly pension and immediate pension under RA 8291 will only receive their cash gift five years after their retirement.
Interested parties who have inquiries may visit the GSIS website (www.gsis.gov.ph), or Facebook account (@gsis.ph), email [email protected], or call the GSIS Contact Center at 8847-4747 if in Metro Manila or 1-800-8-847-4747 (for Globe and TM subscribers) or 1-800-10-847-4747 (for Smart, Sun, and Talk ’N Text subscribers).
On the other hand, 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 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 day can expect that these would be credited to their account starting on the last working day before it, which is Dec. 2.
SSS has requested its accredited non-PESONet participating banks to release the pensions to their SSS-pensioner-clients no later than Dec. 4 and the Philippine Postal Corp. to expedite the delivery of the checks of its pensioners who are receiving their pensions in this manner.
“Since December 1988, we have been granting our pensioners the 13th month pension, which is equivalent to their respective monthly pensions. This additional financial assistance or Christmas gift is our way of thanking them for their support to the SSS during their working years,” Regino said.
A pensioner who is qualified to receive the 13th month pension is a retired pensioner, SSS and Employees’ Compensation survivor, and total disability pensioners, including partial disability pensioners with pension duration of not less than 12 months.