The state-run Social Security System said Wednesday more than 2.83-million pensioners will receive their 13th-month pension starting today, Friday.
SSS president and chief executive Aurora C. Ignacio said the pension fund had released more than P12.71 billion for the 13th-month pension, and both through banks and checks.
“We have already requested our partner banks to credit the 13th-month pension to the respective savings accounts of our pensioners on or before Dec. 6 so that they could enjoy the money in time for the holiday season,” Ignacio said.
The 13th-month pension released this year was 7.6 percent higher than the P11.81 billion released for 2018 following the increase in the number of pensioners from 2.66 million during the period.
Of the total number of pensioners who will receive their 13th-month pension, the majority or about 2.82 million will receive it through their assigned bank accounts while the remaining 14,000 will still receive it through check payments.
“The checks were released and mailed as early as Nov. 26, so that our pensioners will receive it on time for the Christmas season,” Ignacio said.
“We are hoping that we will eventually shift 100 percent of our pensioners to through-the-bank system for faster, convenient and more secure way of receiving their benefits from the SSS.”
The SSS also reminded the pensioners that the basis of the 13th-month pension is the basic monthly pension of a pensioner excluding the dependent’s pension if any.