More than P7.5 billion funds were released by the Social Security System (SSS) this week for the December and 13th month pensions of its more than 1. 2 million beneficiaries.
According to SSS president and chief executive Corazon de la Paz-Bernardo, more than half of the pensions, or around P4.05 billion will go to retirement claimants, while P3.19 billion will go to detach claim pensioners.
The rest of the total amount will be given to those with partial or total disability, Bernardo said in a statement.
“It is a fitting ending to another very good year for SSS pensioners,” she said.
Bernardo said the 13th month pensions on top of the regular pension were introduced in 1988 “to make the pensioners’ holiday celebration more meaningful.”
“Our pensioners are also burdened with additional expenses that come with the holiday season. We want them to have less financial worries and enjoy Christmas more despite having limited or no income due to retirement death or disability,” she said.
Bernardo said 98 percent of the pensioners would get their December pensions through their bank accounts, while the rest would receive checks via mail.
SSS spokesman Joel Palacios said that of the total amount coursed through the banks, P2.54 billion were released through the Philippine National Bank benefiting more than 437,000 pensioners.
Palacios told The STAR that P774 million were released through the Land Bank of the Philippines, benefiting more than 135,000 pensioners.
He said P864 million were released through Metrobank, reaching more than 129,000 pensioners.
SSS said it has more than a hundred partner banks nationwide handling the monthly pensions of its members under its “Mag-Impok sa Bangko” program. – Reinir Padua