The state-run Social Security System (SSS) on Wednesday said more than 2.83 million pensioners will receive their 13th pension starting 6 December 2019.
SSS President and Chief Executive Officer Aurora C. Ignacio said the pension fund has released more than P12.71 billion for the 13th month pension, both thru-the-banks, and thru-checks.
“We have already requested our partner banks to credit the 13th month pension to the respective savings accounts of our pensioners on or before December 6 so that they could enjoy the money in time for the holiday season,” Ignacio said.
The amount of 13th month pension released this year was 7.6 percent higher than the P11.81 billion released for 2018 following the increase in the number of pensioners from 2.64 million on the said period.
Of the total number of pensioners who will receive their 13th month pension, majority or about 2.82 million will receive it through their assigned bank accounts while the remaining 14,000 will still receive it through check payments.
“The checks were released and mailed as early as November 26 so that our pensioners will receive it on time for the Christmas season. We are hoping that we will eventually shift 100 percent of our pensioners to through-the-bank system for faster, convenient and more secure way of receiving their benefits from the SSS,” Ignacio said.
SSS also reminded the pensioners that the basis of the 13th month pension is the basic monthly pension of a pensioner excluding the dependent’s pension if any.