The state-run Social Security System (SSS) announced on Monday that its pensioners would receive their monthly pensions for April earlier than usual as the crediting of bank accounts started on 23 March .
“We allowed the early release of their monthly pension to provide them with some financial assistance. It will help our pensioners cope with the situation that the country is facing right now brought by the dreadful coronavirus disease 2019 (COVID-19),” SSS president and chief executive officer Aurora Ignacio said.
She said the SSS has requested its partner-banks to grant the release of the April 2020 pension on a much earlier date than the regular schedule.
SSS reported the Dumaguete City Development Bank started the release of the April pension on 23 March. First Consolidated Bank, Cooperative Bank of Quezon Province, BDO, CTBC Bank, and Country Builders Bank will release it 1 April. Money Mall Rural Bank and Bank of Commerce will credit the pensions by 3 April.
The SSS has released a total P11.9 billion to disbursing partner-banks for the April 2020 pension. More than 2.7 million pensioners will benefit from the early release.
SSS also reminded the pensioners that on the succeeding months, their monthly pensions would resume its regular schedule, which is based on the contingency date of the pensioner.