Christmas comes early for pensioners as the Social Security System (SSS) announced the early release of the much-awaited 13th month pension. The state fund through Development Bank of the Philippines (DBP) has already issued its December pension and 13th month bonus to PESONet (Philippine Electronic Fund Transfer System and Operations Network) participating banks and other checkless disbursements channels. The fund will be credited to pensioners’ bank accounts starting from December 1 and not later than December 4, 2020.
SSS allocated Php 25.2 Billion, Php 2 billion of which was for NON-PESONet participating banks. Pensioners with accounts in the said banks are expected to receive their money on December 4.
“We are happy to inform our pensioners that they will be receiving their 13th month bonus earlier than our usual schedule, which is usually released every 7th of December. We have allocated P25.2 billion for their bonus, including their December pensions,” SSS President and CEO Aurora C. Ignacio said.
Pensioners with PESONet bank accounts, e-wallets (PayMaya) or cash pick-up arrangement via DBP Cash Padala thru MLhuiller are set to receive their pensions in two batches.
Pensioners with contingency dates from 1st to 15th day of the month would receive their regular pension and 13th month pensions on December 1. Those with contingency dates from the 16th to the last day of the month will receive theirs on December 4.
Retiree-pensioners contingency date is the date they have paid at least 120 contributions and have reached the age of at least 60 years if already separated from employment or ceased self-employment); or the age of 65 years (for technical retirement).
For disability pensioners, the date of contingency is the date of their operation, sickness, or disability, as evaluated by the SSS, while for survivor (death) pensioners, the date of death of the deceased member.
Those with advance 18-month pensions and accrued ACOP-suspended pensions will receive their 13th month pensions on December 4 and December 16 respectively.
SSS has also coordinated with the Philippine Postal Corporation (PhilPost) regarding the prioritization of delivery of checks to pensioners for them to enjoy their benefits on time for the holiday season.
“The early crediting of December pensions, especially the second batch of PESONet account holders, allows our pensioners to have additional budget for them to spend on during the holidays and for their other personal needs,” Ignacio added.
The crediting of pensions for PESONet accounts and other checkless disbursement methods for the succeeding months will still follow the new disbursement schedules every 1st and 16th day of the month. Non-PESONet participating banks will still be credited according to contingency dates.