Did you know that the Social Security System, more commonly known as the SSS, ok-ed the 13th month of pensioners?
Based on the most recent news, they’ll be able to pull this off with the help of the Development Bank of the Philippines, more commonly known as the DBP.
Aurora Ignacio, the Chief Executive Officer (CEO) and the President of the SSS, said that they’ll be able to make this a reality. As per her, it’ll be given to pensioners in around the first (1st) week of December.
We are happy to inform our pensioners that they will be receiving their 13th month bonus earlier than our usual schedule. This is usually released every 7th of December. We were able to allocate P25.2 billion for their bonus, including their December pensions.”
Exact Date of Distribution
The agency said that the 13th month of pensioners will be dispersed and released from the 1st of December 2020. Moreover, pensioners need not to worry; it’ll not go long until the 4th of December.
Therefore, all pensioners who are eligible to receive the 13th month pay will get it on or before the December 4th.
Info on the 13th Month of Pensioners
Ever wondered how much this 13th month is? As per the data that the SSS released, the amount sums up to a total of P23.1 billion.
This figure that the SSS will be allocating would then be transferred to banks and financial institutions that are a part of the Philippine Electronic Fund Transfer System and Operations Network (PESONet).
Meanwhile, the SSS also said that they’ll release a budget amounting to P2 billion for all banks and financial institutions that do not participate in PESONet.
This, also, will be given within the 1st week of December.
Ignacio said that even earlier, the SSS already sent requests to non-PESONet banks and financial institutions to give and distribute the 13th month of pensioners, as well as those who are part of the 18-month pension earlier or on the 4th of December 2020.
Moreover, she also said that pensioners who have ACOP-suspended and are subject to accrues must start the crediting on the 3rd of December.
What Shall Pensioners Do?
Are you a pensioner and you already can’t get your hands on the cash aid? If you are one, you don’t have to worry.
All pensioners who are in affiliation with any accounts that participate in PESONet will be able to receive their pensions in a total of two (2) batches.
This includes both e-wallets and arrangements for cash pick-ups.
If you are a pensioner with a contingency date that are between the 1st and the 15th of the month; you’ll receive your pensions, as well as the 13th month on the 1st of December.
On the other hand, if you’re a pensioner and your contingency date falls between the 16th day of each month, up until the last day, you’ll receive your 13th month and pensions on the 4th of December.
What About Pensioners With Advance 18-Month Pensions?
If you happen to be a pensioner whose part of the advanced 18-month pension; and you have accrued pensions of the ACOP, you’ll be bale to receive your 13th month pensions on the 4th and the 16th of December, respectively.
The SSS was able to make this a reality as they partnered up and coordinated with PhilPost or the Philippine Postal Corporation to help and aid in the delivery of checks to those who respectively need it (pensioners).
Ignacio said that this early crediting and distribution will be able to help everyone – including pensioners to get their 13th month payments.
The early crediting of December pensions, especially the second batch of PESONet account holders, allows our pensioners to have additional budget for them to spend on during the holidays and for their other personal needs.”
Same Schedules and Deliveries
In case you’re wondering about the time of delivery, the crediting of the 13th month of pensioners will still follow the newest and the most updated disbursement schedules.
So, you don’t have to worry about finding out all the information you need about the 13th month of pensioners.
What do you think about the 13th month pay of pensioners being released within the first (1st) week of December? Could this really help them out, especially after all the things that happened within this year?
Source: Manila Standard