Some P3 billion worth of Christmas cash gift to pensioners will be released by the Government Service Insurance System (GSIS) to pensioners starting December 15.
In a statement posted Monday, December 9, the GSIS said P3.12 billion in Christmas cash gifts will be given to old-age and disability pensioners.
“We know that our 324, 348 pensioners are looking forward to the GSIS Christmas Cash Gift which they fondly call their Christmas bonus. Thus, we made sure that it will be credited to their e-card a few days before Christmas day so they can spend it in celebrating this joyous occasion with their families,” GSIS chair Rolando Macasaet said.
GSIS stated that those who are entitled to receive the Christmas cash gifts are active old-age and disability pensioners under Republic Act (RA) No. 8291, Presidential Decree No. 1146, and RA No. 660 who are receiving their monthly pension and are still living as of November 30.
It added that the suspended pensioners as of November 30 this year are also eligible to receive the cash gift, provided that they activate their status with the state-run pension fund on or before April 30, 2020.
Pensioners whose cash gifts in 2018 were above P10,000 will get an amount equivalent to a one-month current pension up to a maximum of P12,600.
While those who received P10,000 and below cash gifts last year will be granted a one-month current pension to a maximum of P10,000.
“Pensioners who resumed their regular monthly pension after December 31, 2018 (after the five-year guaranteed period) will be granted one-month current pension up to a maximum of P10,000,” the statement said.
It added that those who are not qualified to receive Christmas cash gifts are basic survivorship pensioners; dependent pensioners; pensioners under RA 7699 (Portability Law); and those receiving pro-rata pension.
Even the retirees who received their guaranteed pensions in advance through lump sums, who are still within the guaranteed period, and will be resuming their regular monthly pensions after December 31 are not entitled to benefit.
It will also be applied with the new retirees between years of 2015 to 2019 who availed of immediate pension under RA 8291 will not receive their cash gifts yet this year.
“GSIS members who resigned or separated from government service between 2006 to 2019 before reaching age 60 and who started receiving their regular monthly pension between 2015 and 2019 will receive the cash gift once they have been regular pensioners for at least five years,” it stated.