GSIS disburses P2.1-B cash gift for pensioners

ZAMBOANGA CITY, Dec 18 (ZNS) - A total of 238,490 pensioners of the Government Service Insurance System (GSIS) can now withdraw  their annual Christmas cash gift through their eCard accounts as these were deposited in their accounts Dec. 10, 2013.   

 In a press statement, GSIS President and General Manager Robert G. Vergara said “The Board of Trustees and Management of GSIS realize that our pensioners look forward to receiving their cash gift every year as part of the Christmas season,” adding “the Board wants to release it as soon as possible.”

 The P2.1 billion allocation for the cash gift, according to PGM Vergara, is 16.7 percent higher than last year’s allocation of P1.8 billion.

 GSIS Pagadian City branch head Engr. Leoncito S. Manuel said qualified to receive the cash gift are old-age/retirement and disability pensioners who have been receiving their monthly pension for at least five years as of Dec. 15, 2012. 

Meanwhile, pensioners living abroad and in the Autonomous Region of Muslim Mindanao (ARMM) who are on suspended status at the time of the grant of the Christmas cash gift will be ineligible to receive it, but may still qualify if they activate their status not later than April 30, 2014.

Vergara said that pensioners who will receive their cash gift for the first time will be granted an amount equivalent to a month’s pension but not to exceed P10,000. While pensioners who have been previously receiving a cash gift of more than P10,000 will get one month’s pension up to a maximum of P12,600.

In addition, pensioners who resumed their regular monthly pensions after December 2012 (or the five-year guaranteed period) will receive an amount equivalent to a month’s pension up to a maximum of P10,000. 

However, certain pensioners will be ineligible to receive the cash gift. These include survivorship and dependent pensioners, retirees who received in advance their guaranteed pensions in the form of lump sum and who will be receiving their regular monthly pensions after Dec. 31, 2013, and new retirees from 2009 to  2013 who will be entitled to the Christmas cash gift five years after their retirement date.

Pensioners who will activate their status by April 30, 2014 will receive their cash gift not later than May 31, 2014.(ZNS/FMS)