CEBU, Philippines - It’s going to be a happy New Year for old-age pensioners of the Government Service Insurance System (GSIS), as their minimum monthly pension will be raised to P5,000 starting next month, GSIS chairman Daniel Lacson, Jr. announced.
Lacson added that those presently receiving between P5,000 but below P8,000 will also get staggered hikes. The GSIS chairman announced this development at the forum for old-age pensioners in Bacolod this week.
Until this year, there are still pensioners who retired with monthly salaries getting as low as P200 to P300 per month, he added.
Lacson said old-age pensioners receiving below P5,000 comprise some 35 percent of the 220,000 GSIS retirees.
Another 15 to 20 percent who presently receive P5,000 but below P8,000 will receive staggered increases until their pension reach the P8,000 level, he added.
With this new policy, Lacson said, “more than half of our old age pensioners will get an uplift.”