SSS releases pension, 13th month benefits
In a statement, the SSS said P23.1 billion of the amount has been released by the Development Bank of the Philippines (DBP) to Philippine Electronic Fund Transfer System and Operations Network (PESONet) participating banks and other checkless disbursements channels.
Boy Santos

SSS releases pension, 13th month benefits

Mary Grace Padin (The Philippine Star) - November 29, 2020 - 12:00am

MANILA, Philippines — State-run Social Security System (SSS) has released P25.2 billion in 13th-month bonuses and pension benefits for the month of December, which will be credited to the bank accounts of its members starting Dec. 1.

In a statement, the SSS said P23.1 billion of the amount has been released by the Development Bank of the Philippines (DBP) to Philippine Electronic Fund Transfer System and Operations Network (PESONet) participating banks and other checkless disbursements channels.

This amount will be credited to pensioners’ bank accounts as early as Dec. 1, but not later than Dec. 4, the SSS said.

The SSS also released around P2 billion to non-PESONet participating banks, which is expected to be disbursed to pensioners on Dec. 4.

“We are happy to inform our pensioners that they will be receiving their 13th month bonus earlier than our usual schedule, which is usually released every seventh of December. We have allocated P25.2 billion for their bonus, including their December pensions,” SSS president and chief executive officer Aurora Ignacio said.

According to the SSS, pension benefits for members using PESONet participating bank accounts, e-wallets or cash pick-up arrangements will be released in two batches.

Pensioners with contingency dates from the first to 15th day of the month will receive their regular pensions and 13th month benefits on Dec. 1, while those with contingency dates from the 16th to the last day of the month will receive theirs on Dec. 4.

Those with advance 18-month pensions and accrued Annual Confirmation of Pensioners (ACOP)-suspended pensions will receive their 13th-month pensions on Dec. 4 and Dec. 16, respectively.

Ignacio said the SSS earlier requested non-PESONet participating banks to credit the pension benefits to its members’ accounts not later than Dec. 4, except for pensioners with accrued ACOP-suspended pensions which will receive theirs on their contingency dates.

She said the SSS has also coordinated with the Philippine Postal Corp. (PhilPost) to prioritize the delivery of checks to pensioners.

“The early crediting of December pensions, especially the second batch of PESONet account holders, allows our pensioners to have additional budget for them to spend on during the holidays and for their other personal needs,” Ignacio said.

The SSS said the crediting of pension for PESONet accounts and other checkless disbursement methods in the succeeding months will follow the new pension disbursement schedules, which are released every first and 16th day of the month. Pension for non-PESONet participating banks will be credited according to contingency dates.

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