MANILA, Philippines - The Government Service Insurance System (GSIS), the state pension fund manager, is releasing the monthly pensions of its members on the eight day of every month instead of the usual first banking day, its president and general manager Winston Garcia said during the weekend.
GSIS implemented the changes amid numerous requests from pensioners to immediately resume the regular crediting of their benefits in case their accounts are suspended due to their failure to renew their active status.
With the new schedule, those who have renewed their active status on the last week or even on the last day of the previous month will be able to receive their pension immediately the following month, Garcia said.
Comparatively, pension crediting on the eighth day of every month is still faster as against the old pension disbursement system through checks.
In the past, pensioners were forced to wait for weeks for their checks to be printed, mailed, deposited, and cleared for three days before they can withdraw their pension money. Pensioners likewise often fell prey to incidences of mail pilferage or lost checks.
With GSIS’ move to credit monthly pensions to their eCard Plus, pensioners receive their benefits faster. They can also use their eCard as an automated teller machine (ATM) card and withdraw their pension from any BancNet, MegaLink or ExpressNet ATMs in the county.
With the adjustment in schedules, the GSIS is now requiring all its old-age and survivorship pensioners to renew their active status every year, during their birth month, to ensure the receipt of their monthly pension.
To renew their active status, pensioners must bring their eCard Plus to the nearest GSIS servicing office or the nearest government establishment installed with a GSIS Wireless Automated Processing System kiosk or G-W@PS kiosk on their birth month.
Then, they must place their eCard Plus on the card reader of the kiosk. Afterwards, they must choose the “Annual Reporting” icon using the kiosk’s touch screen and then select any pre-registered finger. Finally, they must lightly scan their finger using the fingerprint scanner of the kiosk to complete the process which takes only a few seconds to accomplish.
GSIS has been trying to improve its system amid numerous complaints from pensioners of the agency’s slow disbursement of benefits.