GSIS grants Christmas cash gifts for pensioners

Gov’t pension fund earmarks P1.8B for retired, disabled public workers

SHARES:

01:19 AM December 8th, 2012

Recommended
By: Ronnel W. Domingo, December 8th, 2012 01:19 AM

PENSIONERS of the Government Insurance Service System will each receive up to P12,600 as the agency gives out a total of P1.8 billion in Christmas cash gifts.

The GSIS has some 219,000 active members who receive regular monthly pensions as benefits for their retirement, disability or old age.

Those covered by the cash gift are the ones who have been receiving their monthly pensions for at least five years as of Dec. 15, 2012.

“We will credit the cash gift to our pensioners’ e-Card accounts on or before Christmas Day,” said Robert G. Vergara, GSIS president and general manager.

Based on the issued guidelines regarding the grant of the cash gift, pensioners whose Christmas cash gift in 2011 was more than P10,000 will receive this year the same amount as their current monthly pension, but only up to P12,600.

At the same time, those whose cash gift last year reached P10,000 or less will also receive an amount equivalent to their current monthly pension, but only up to P10,000.

The P10,000 maximum also applies to pensioners who resumed their regular monthly pension after Dec. 31, 2011.

On the other hand, there are pensioners who are not eligible to receive the cash gift, including dependents and spouses who survived pensioners who have passed away and pensioners who are receiving their regular pro rata pensions.

This year’s Christmas kitty is P180 million, or 11 percent higher, than the P1.62 billion in cash gifts given out in 2011.

Also, the GSIS approved the grant of emergency loans to some 345,000 members who were affected by typhoon “Pablo.”

GSIS members who are living in, or working in government offices located in regions that were declared calamity areas are entitled to P20,000, payable in three years.

The calamity areas include Misamis Oriental, Bukidnon, Lanao del Sur, Lanao del Norte, Misamis Occidental, Zamboanga del Norte, Camiguin, Surigao del Norte, Siargao, Surigao del Sur, Dinagat Province, Agusan del Norte, Agusan del Sur, Davao del Norte, Samal Island, Compostela Valley, Davao Oriental, North Cotabato, Zamboanga del Sur, Zamboanga Sibugay, Maguindanao, Bohol, Siquijor, Southern Cebu, Southern Negros Oriental, Southern Negros Occidental, Southern Leyte, Antique, Iloilo, and Camotes Island.

Disclaimer: Comments do not represent the views of INQUIRER.net. We reserve the right to exclude comments which are inconsistent with our editorial standards. FULL DISCLAIMER
For feedback, complaints, or inquiries, contact us.