State pension fund Government Service Insurance System says it will complete the crediting of P3.3 billion in Christmas cash gifts to the eCard of its old-age and disability pensioners by һDecember 12.
“The December 1 start date of release of the pensioners’ cash gift announced earlier has been allotted for the preparatory system requirements,” GSIS President and General Manager Rolando Ledesma Macasaet said.
“Kung matatapos nang maaga ang system requirements, we might be able to credit the cash gift to the pensioners’ eCards earlier, possibly on December 8 para sabay na nilang ma-withdraw ang cash gift at monthly pension.”
According to Macasaet, GSIS pensioners stand to withdraw a bigger amount this month because aside from the cash gift, they will get their monthly pension in full without loan amortization deduction as a loan moratorium is now in effect.
Qualified pensioners who received a Christmas cash gift of P10,000 and below in 2019 will be granted an amount equivalent to their one-month pension but not more than the maximum amount of P10,000. Pensioners whose 2019 Christmas cash gift was above P10,000 will similarly receive a one-month pension up to a maximum of P12,600. Pensioners who resumed their regular monthly pension after December 31, 2019 (after the five-year guaranteed period) will be given a one-month pension but not more than P10,000.
Eligible to receive the Christmas cash gift are old-age and disability pensioners under Republic Act 8291, Presidential Decree 1146, and RA 660 who are receiving their regular monthly pensions and who are still living as of 30 November 2020.
Also qualified to receive the cash gift are old-age and disability pensioners residing abroad or in the Autonomous Region of Muslim Mindanao who were already on suspended status prior to the suspension of the Annual Pensioners Information Revalidation in March and are still on suspended status as of the date of granting of the cash gift. They will be eligible for the cash gift provided they activate their status with GSIS on or һbefore June 30, 2021.
Not eligible for the Christmas cash gift are survivorship pensioners, dependent pensioners, pensioners under RA 7699 (Portability Law) and those receiving pro-rata pension.
New pensioners from 2016 to 2020 who availed themselves of immediate pension under RA 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.
Those who availed themselves of a five-year lump sum and who will resume their regularly monthly pension һafter December 31, 2020, are also not eligible for the benefit.
Likewise, GSIS members who resigned or separated from government service before reaching 60 years old and who started receiving their regular monthly pensions between 2016 and 2020 will only receive the cash gift five years after regularly receiving their pension.