The Government Service Insurance System announced that it will start releasing more than P3.47 billion in Christmas cash gift to its old-age and disability pensioners on 6 December 2023.

"The amount that more than 300,000 qualified GSIS pensioners will receive as a Christmas cash gift is equivalent to their one-month pension up to a maximum of P10,000. We will credit it to their GSIS eCard," said GSIS president and general manager Wick Veloso.

"We are announcing this news early because we know it is expected our pensioners so they can plan when they will withdraw and what to buy with what they will receive," he added.

The GSIS chief that its old-age and disability pensioners who are receiving their regular monthly pensions and are living as of 30 November 2023 are qualified to the Christmas cash gift.

"If your pension is suspended as of 31 December 2023, that's because you did not comply with the Annual Pensioners Information Revalidation. But we will still give you your cash gift after you complete the APIR," Veloso said.

He added that not eligible for the Christmas cash gift are survivorship pensioners, dependent pensioners, pensioners under RA 7699 or the Portability Law and those receiving pro-rata pension.

Meantime, new pensioners from 2019 to 2023 who availed of immediate pension and 18-month cash payment under Republic Act 8291 are also not yet entitled to receive the cash gift. They will start receiving their Christmas cash gift five years after their retirement date.

Retirees who have availed of five-year lump sum and who will resume their regularly monthly pension after 31 December 2023 are also not eligible for the benefit.