The state-run Social Security System (SSS) on Monday said it already released to partner banks the December and 13th month pensions of its pensioners starting 29 November this year. The entire package is worth nearly P22 billion.
SSS president and chief executive officer Emmanuel Dooc said the pension fund has already released more than P21.9 billion to its disbursing partner-banks on 15 November to give them ample time to release the regular monthly pension for December 2018 and 13th month pensions to pensioners.
Broken down, SSS released P10.95 billion for the 13th month pension and about P10.95 billion for December 2018 pension.
“We have already requested our partner banks to release the 13th month pension on 29 November. However, we leave the discretion to our partner banks if they will release the regular monthly pension for December along with the 13th month pension or stick to the regular schedule of release of monthly pension on the contingency date of the pensioner,” Dooc said.
Dooc also added that the pension fund already asked the Philippine Postal Corp. to prioritize the delivery of the checks for the December and 13th month pensions of SSS pensioners residing in far-flung areas so they can enjoy their cash benefits before Christmas.
“Almost all our pensioners receive pensions through their respective bank accounts but there are more than 15,000 pensioners, mostly in far-flung areas, who still prefer to receive their pensions through checks. For those in Metro Manila and nearby areas, it usually takes three to five days to receive their checks while it would take five to eight days for faraway Luzon provinces and eight to 10 days for Visayas and Mindanao,” Dooc explained.
Of the total number of pensioners, more than 99.38 percent or 2.4 million pensioners receive their 13th month and regular pensions through SSS-accredited partner banks while the remaining 0.62 percent or more than 15,000 pensioners receive their cash benefits through checks.