3rd tranche of SSS pension released today

MANILA, Philippines -  State-run Social Security System (SSS) is set to release today the third and final tranche of the additional P1,000 pension to qualified SSS retirees, survivors and permanently disabled members.

The SSS said in a statement that it has already deposited P2.1 billion to its partner banks, which shall be released to qualified SSS members and pensioners as their differential pension for the month of March.

“Our pensioners may withdraw the March differential of the additional P1,000 pension from their respective banks. In fact, several of our partner banks have already credited the amount even earlier than the scheduled date,” SSS president and chief operating officer Emmanuel Dooc said.

About 2.1 million SSS pensioners will benefit from the last batch of additional pension release, according to Dooc.

“For the last scheduled release of the P1,000 differential for regular pensioners, an addition of more than 33,000 pensioners were added to our list from the previous month’s 2.07 million pensioners,” Dooc said.

Last month, Malacañang approved the increase of the additional P1,000 SSS pension to qualified SSS retirees, survivors and permanently disabled pensioners retroactive to January 2017.

The SSS settled the pension differentials for the months of January and February last March 3 and March 10, respectively. It has already issued a total of P6.22 billion for the distribution of the additional P1,000 pension from January to March 2017.

“Starting April, all regular pensioners will receive the updated amount of their pension. This means that their regular monthly pension will automatically increase by P1,000,” Dooc said.

Pensioners under special cases, meanwhile, will receive their incremental benefits on different dates: March 31, May 12 and May 26, 2017.

About 13,000 pensioners with unpaid loans will not receive the additional P1,000 benefit to offset any outstanding obligation, the SSS said.