THE GOVERNMENT Service Insurance System (GSIS) will start releasing Christmas cash gifts next week, Dec. 15, to active old-age and disability pensioners.
GSIS said the pension fund has allotted P3.12 billion for the cash gift that will be distributed to some 324,000 eligible members.
Rolando Ledesma Macasaet, chairman, acting president and general manager of GSIS, said the cash gifts will be credited to pensioners’ e-cards ahead of Dec. 25.
“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,” Mr. Macasaet was quoted as saying.
GSIS said the members eligible for the cash gift are the active old-age and disability pensioners who are still alive as of Nov. 30 and are still receiving their regular monthly pension.
“Suspended pensioners as of November 30, 2019 are also eligible to receive the cash gift, provided they activate their status with GSIS on or before 30 April 2020,” it said.
The pension fund explained that members who got at least P10,000 worth of Christmas cash gift in 2018 could receive up to P12,600, based on its one month current pension.
For those who received P10,000 and below last year, they will be granted one month current pension up to a maximum of P10,000, it said.
“Pensioners who resumed their regular monthly pension after Dec. 31, 2018 (after the five-year guaranteed period) will be granted one month current pension up to a maximum of P10,000.”
For the members who retired from 2015 to 2019 and have availed of immediate pension, GSIS said they will only start receiving the Christmas cash gift five years from their retirement date.
“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 (5) years.” — BML