State pension fund Government Service Insurance System (GSIS) will start releasing more than P3.47 billion in Christmas cash gifts to its old-age and disability pensioners on Dec. 6.
GSIS president and general manager Wick Veloso said over the weekend that the amount to be received by over 300,000 qualified GSIS pensioners is equivalent to a one-month pension up to a maximum of P10,000. The money will be credited to pensioners’ GSIS eCard.
Veloso said GSIS old-age and disability pensioners who are receiving their regular monthly pensions and are living as of Nov. 30, 2023, are qualified to receive the Christmas cash gift.
“If their pensions are suspended as of Dec. 31, 2023, because they failed to comply with the Annual Pensioners Information Revalidation (APIR), we will still give their cash gift after they comply,” Veloso said.
Not eligible for the Christmas cash gift are survivorship pensioners, dependent pensioners, pensioners under RA 7699 (Portability Law), and those receiving pro-rata pensions.
New pensioners from 2019 to 2023 who availed of immediate pension and 18-month cash payment under Republic Act 8291 are also not yet entitled to receive the cash gift. They will start receiving their Christmas cash gift five years after their retirement date.
Retirees who have availed of a five-year lump sum and who will resume their regular monthly pension after Dec. 31, 2023, are also not eligible for the benefit.
Likewise, GSIS members who were separated from government service from 2006 to 2023 before reaching 60 years old and who started receiving their regular monthly pension between 2019, 2020, 2021, 2022, and 2023 are not qualified. They will only receive the cash gift five years after regularly receiving their pension.