SSS Releases PHP 25.2B For December Pension, 13th Month Pension

SSS released PHP 25.2 billion for December pension and 13th month pension.

The Social Security System (SSS) had already released its December pension and 13th month pension amounting to a total of PHP 25.2 billion.

SSS President and CEO Aurora C. Ignacio said that they were happy to inform their pensioners that they would be receiving their 13th month bonus earlier than their usual schedule, which was usually released every 7th of December, adding that they had allocated PHP 25.2 billion for their bonus — including their December pensions.

In a report on Manila Bulletin, SSS — through Development Bank of the Philippines (DBP) — had already released its December pension and 13th month bonus amounting to PHP 23.1 billion to Philippine Electronic Fund Transfer System and Operations Network (PESONet) participating banks and other checkless disbursements channels to be credited to the pensioners’s bank accounts starting December 1, 2020, but not later than December 4, 2020.

Likewise, SSS had also released around PHP 2 billion for NON-PESONet participating banks, which was expected to be disbursed to pensioners on December 4, 2020.

For pensioners with PESONet participating bank accounts, e-wallets or cash pick-up arrangement via DBP Cash Padala through MLhuiller would receive their pensions in two batches.

The said pensioners with contingency dates from 1st to 15th day of the month will receive their regular pensions and 13th-month pensions on December 1, 2020, while those pensioners with contingency dates from the 16th to the last day of the month would receive their regular and 13th month pensions on December 4, 2020.

However, those pensioners with advance 18-month pensions and accrued ACOP-suspended pensions would receive their 13th-month pensions on December 4, 2020, and December 16, 2020, respectively.

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In addition, Ignacio said that the Social Security System earlier requested the non-PESONet participating banks to credit the 13th month pension and December pension to pensioners accounts — including those pensioners who availed of the advance 18-month pension — not later than December 4, 2020, while pensioners with accrued ACOP-suspended pensions would receive their 13th month pension on their contingency dates which would be credited starting December 3, 2020.

Moreover, SSS had also coordinated with the Philippine Postal Corporation in order to prioritize the delivery of checks to the pensioners in order for them to enjoy their pension benefits before the holiday season.

“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.

As per the report, pension crediting for PESONet accounts and other checkless disbursement methods for the succeeding months would still follow the new pension disbursement schedules, which were released every 1st and 16th day of the month, while the non-PESONet participating banks would still be credited in accordance to contingency dates.

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