State pension fund Government Service Insurance System (GSIS) is set
to release the Christmas cash gift to pensioners through their eCard
accounts starting December 10, 2014.
GSIS President and General Manager Robert G. Vergara said a total of
Php2.42 billion will be disbursed for this benefit, 15 percent higher
than last year's allocation of Php2.10 billion.
Old-age (retirement) and disability pensioners who have been
receiving regularly their monthly pension and whose 2013 cash gift is
above Php10,000 shall be granted an amount equivalent to their one-month
pension but not to exceed Php12,600.
Those whose 2013 cash gift is Php10,000 and below are entitled to receive one-month pension but not to exceed Php10,000.
Retirees who availed of five-year lump-sum retirement benefit and had
resumed their regular monthly pension after December 31, 2013 will
receive their cash gift for the first time this year in an amount
equivalent to a month's pension up to a maximum of Php10,000.
Pensioners living abroad and those in the Autonomous Region of Muslim
Mindanao who are on suspended status as of December 31, 2014 are also
eligible to receive the cash gift provided they activate their status
not later than April 30, 2015.
Survivorship and dependent pensioners, however, are not entitled to
receive the benefit. Also ineligible are retirees who will be receiving
their regular monthly pension after December 31, 2014.
Similarly, new retirees from 2010 to 2014 (they will only be entitled to
the cash gift five years after their retirement date), members who were
separated from the service from 2006 to 2014 before reaching age 60
(they will be entitled to the cash gift five years after being regular
pensioners), pensioners under Republic Act 7699 (Portability Law), and
those receiving pro-rata pension are not qualified as well. (GSIS)
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