SSS shells out P11B in holiday benefits

The Social Security System has released P11.02 billion worth of 13th month benefits to its pensioners.

SSS said in a statement that an estimated 2 million pensioners here and abroad would receive the 13th month benefits, which was up by 7 percent from that of a year ago.

In 2012, there were only 1.7 million pensioners.

The benefits mostly went straight to the bank accounts of pensioners, the SSS said.

The state-run pension firm has been disbursing the benefits since the start of the month.

Over 99 percent of the fund’s 1.8 million pensioners are enrolled in the Pension Remittance Thru Banks program, which enables them to withdraw their pensions directly from their savings accounts through automated teller machines (ATMs).

A small percentage of pensioners receive their checks via mail. These pensioners opted for the mail delivery service because they had no access to ATMs in their areas.

The SSS reminded its pensioners to go through the annual process of confirming their existence to continue receiving their monthly pension. Pensioners are required to go through the confirmation process during their birth months.

In a separate development, the Government Service Insurance System announced that it would offer an emergency loan for its members affected by Supertyphoon “Yolanda.”

GSIS said in a statement that, through the Home Emergency Loan Program (HELP), it has made available a one-time special loan of up to P200,000 for each qualified applicant to help members rebuild their homes in the affected areas.

The hardest hit areas were mostly in the Visayas.

“Under HELP, members may apply for a loan based on their total length of service in the government,” GSIS said.

Those qualified for the maximum amount of loan are members who have been in government service for at least 10 years.

Those who have been in public service for five years, but less than ten years, may apply for a loan worth P100,000. Michelle V. Remo