MANILA — State pension fund Government Service Insurance System (GSIS) is set to release the yearly Christmas cash gift to a total of 281,000 old-age and disability pensioners starting December 16.
According to GSIS Officer-in-Charge and Senior Vice President for NCR Operations Atty Nora Malubay-Saludares, a total of PHP2.67 billion has been earmarked for this benefit.
Pensioners whose 2015 Christmas cash gift is above PHP10,000 will be granted an amount equivalent to one-month current pension up to a maximum of PHP12,600.
While, pensioners whose 2015 Christmas cash gift is PHP10,000 and below will be granted an amount equivalent to one-month current pension up to a maximum of PHP10,000.
Those who resumed their regular monthly pension after December 31, 2015 (after the five-year guaranteed period) will be granted an amount equivalent to one month current pension up to a maximum of PHP10,000.
Pensioners living abroad and those in the Autonomous Region of Muslim Mindanao who are on suspended status as of 31 December 2016 are also eligible to receive this benefit provided they activate their status not later than 30 April 2017. They will receive their cash gift not later than 31 May 2017.
Survivorship and dependent pensioners, and retirees who received in advance their guaranteed pensions in the form of lump sum and who are still within the guaranteed pension and are resuming their regular monthly pension after 31 December 2016 are not entitled to receive the cash gift.
Also ineligible to receive the cash gift are pensioners under Republic Act 7699 (Portability Law) as well as pensioners receiving pro-rata pension.
Retirees from 2012 to 2016 and members who were separated from the service from 2006 to 2016 before reaching age 60 who started receiving their regular monthly pension in 2012- 2016 will be entitled to the benefit five years after regularly receiving their pension.
Questions on the grant of cash gift may be directed to the GSIS Contact Center at 847-4747. PNA-northboundasia.com