GSIS pensioners set to receive P2.42-B Christmas cash gifts

MANILA, Philippines - The Government Service Insurance System (GSIS) will release P2.42 billion worth of Christmas cash gifts to pensioner members starting Thursday (Dec. 10).

GSIS president and the general manager Robert G. Vergara said the amount is 15 percent more than the P2.1 billion disbursed last year.

Old-age (retirement) and disability pensioners who have been receiving regularly their monthly pension and whose 2013 cash gift is above P10,000 will each receive an amount equivalent to their one-month pension not exceeding P12,600.

Those whose 2013 cash gift is P10,000 and below are entitled to receive one-month pension but not to exceed P10,000.

Retirees who availed of five-year lump-sum retirement benefit and had resumed their regular monthly pension after Dec. 31, 2013 will receive their cash gift for the first time this year in an amount equivalent to a month’s pension up to a maximum of P10,000.

Pensioners living abroad and those in the Autonomous Region of Muslim Mindanao who are on suspended status as of Dec. 31 are also eligible to receive the cash gift provided they activate their status not later than April 30 next year.

Survivorship and dependent pensioners, however, are not entitled to receive the benefit.

Retirees who will be receiving their regular monthly pension after Dec. 31, 2014 are also not eligible to receive the benefit.

Similarly, new retirees from 2010 to 2014 will only be entitled to the cash gift five years after their retirement date. Members who were separated from the service from 2006 to 2014 before reaching age 60 will be entitled to the cash gift five years after being regular pensioners while those receiving pro-rata pension are also not qualified.