COVID-19 relief: SSS, GSIS pensions come early | Inquirer Business

COVID-19 relief: SSS, GSIS pensions come early

By: - Reporter / @bendeveraINQ
/ 06:58 PM April 02, 2020

Cash benefits of Government Service Insurance System (GSIS) pensioners came earlier than usual after the GSIS released these on Thursday (April 2).

The monthly GSIS pension was usually due on the eighth day of the month.

Rolando Macasaet, GSIS president and general manager, said the pensions had been deposited as early as Wednesday (April 1).


Pensioners can now withdraw their money through their eCards or Umid cards at ATMs of Land Bank of the Philippines or Union Bank of the Philippines.


The pensions reached P5.7 billion to be distributed to 511,000 beneficiaries nationwide.

Macasaet, in a statement, said the early pension release was just one of several “proactive measures we are taking to help our pensioners cope with the COVID-19 crisis.”

“We know that most of our retirees rely on their pension for their daily upkeep and maintenance medicines,” he said.

“We hope that this will somehow help ease the burden of our senior citizens during the crisis,” Macasaet added.

The GSIS had earlier extended the deadline for personal appearance of pensioners as proof of life. The new deadline is May 15.

“We do not want to expose our pensioners to any unnecessary risk,” Macasaet said of the requirement that would force pensioners to leave their homes to go to GSIS offices.


“We want them to stay at home for the time being,” he said.

The Social Security System, on the other hand, last week suspended its own proof-of-life requirement for pensioners.

Proof of life had been required by the two pension funds to stop the release of money to beneficiaries who had already died and which unqualified relatives are taking advantage of.

Last Wednesday (April 1), the SSS also reminded pensioners that their regular monthly pensions for April had already been credited to their bank accounts since March 23 yet.

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The SSS released P11.9 billion to at least 2.7 million beneficiaries.

Edited by TSB

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TAGS: #COVID19PH, coronavirus, deposits, funds, pensions, retirees

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