The Government Service Insurance System (GSIS) is set to release P3.35 billion in Christmas cash gift to more than 328,000 old-age and disability pensioners starting December 6, the pension fund said in a statement.
The Social Security System (SSS) also announced yesterday that its pensioners will be receiving their 13th month and December 2022 pensions as early as the first week of December. The SSS is set to release around P29.74 billion covering 3.36 million pensioners.
Wick Veloso,GSIS president and general manager, 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 (RA) No. 8291 (GSIS Act of 1997), Presidential Decree No. 1146 (Revised GSIS Act of 1977) and RA 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 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, will also receive their cash gift after they have reactivated their status.
The following are ineligible to receive the cash gift: pensioners who availed 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 RA 7699 (Portability Law) and those receiving pro-rata pension.
New retirees from 2018 to 2022 who availed 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.
Meanwhile, the SSS said it released yesterday 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 December 4, covering pensioners with dates of contingency within the 16th up to the last day of the month.
Since December 4 falls on a Sunday, pensioners who are set to receive their pensions on the said date can expect these to be credited to their account starting on the last working day before it, which is December 2.
“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,” said Michael Regino, SSS president and chief executive officer.
The SSS has requested its accredited non-PESONet participating banks to release the said pensions to their SSS-pensioner clients no later than December 4.
