Since October 2020, the Social Security System said, it had been following a new schedule for the disbursement of monthly pensions using the Philippine Electronic Fund Transfer System and Operations Network or PESONet and other checkless disbursement channels.
The new schedule covers pensioners receiving their pensions through PESONet participating banks, e-wallets and the Development Bank of the Philippines-accredited Remittance Transfer Company/Cash Payout Outlet-M Lhuillier.
Under the new schedule, the pensioners with dates of contingency from the first to the 15th day of the month will receive their pensions on the 1st day of the pension month (first batch), while those with dates of contingency from the 16th to the last of the month will receive their pensions on the 16th day of the pension month.
If the credit date falls on a Saturday, Sunday or a holiday, the pension will be credited to their accounts on the last working day before the Saturday, Sunday, or holiday.
The SSS said the pensions for September 2020 were already released to the banks in mid-August 2020. Those pensions were scheduled to be credited to their accounts on their dates of contingency-the old disbursement schedule.
After receiving the funds from the SSS, some banks are crediting them to their pensioner-client’s accounts ahead of the scheduled crediting date, which may be, but not limited to, the last week before or the first week of the pension month.
Pensioners, to double-check whether they have already received their September 2020 pensions, are advised to secure a Statement of Account from their depository bank; this could be the pension credited to their account on the 3rd to 4th week of August 2020.
They can also check their Pension Payments History by logging in to their My.SSS account at www.sss.gov.ph. The history can be accessed by clicking on “Inquiry,” followed by “Benefits,” then “Pension Details.”
The SSS said it had already released all pensions for October 2020 through PESONet and other checkless disbursement channels, as well as through the old disbursement method for non-PESONet participating banks and checks.
For releases through the new disbursement method, the SSS, through DBP, credited the funds to PESONet- participating banks and other checkless disbursement channels on Oc. 1 for the first batch and October 16 for the second batch, as scheduled.
Through the DBP, the SSS said, it had already credited the first batch of November 2020 pensions to other PESONet banks before 12 noon on Oct. 30, 2020. These PESONet participating banks were expected to make the pensions available for withdrawal to their pensioner-clients on Oct. 30 onwards.
The SSS is requesting PESONet participating banks to release the benefit to pensioners as soon as possible if they still had not.
Pensioners are advised to contact their respective depository banks should there be any delay in crediting their pensions as the SSS had already disbursed the funds.