2M SSS retirees finally get additional P1,000 pension CNN Philippines

2M SSS retirees finally get additional P1,000 pension

The Social Security System (SSS) on Thursday said more than two million pensioners will benefit from the second tranche of the P1,000 additional benefit that will be released Friday.

In a statement, SSS said P2.07 billion will be released to qualified members.

“We are happy to inform our regular pensioners that the P1,000 additional benefit differential for February 2017 is now deposited in the respective bank accounts of our pensioners. This is the second happy Friday for SSS pensioners,” SSS President and Chief Executive Officer Emmanuel Dooc said.

“From the 2.04 million pensioners for the month of January, almost 30,000 were added in our list for the beneficiaries for February. We are expecting that the number of pensioners who will enjoy the P1,000 additional benefit will continue to increase in the coming months,” he added.

The pension fund released last Friday about P2.04 billion to its pensioners for the January 2017 differential.

The P1,000 additional benefit for the month of March will be given on March 17.

Pensioners under special cases will receive their P1,000 increase on March 31, May 12 and 26. These include death claims with more than one payee and one of them is overpaid; payees with withheld share; Special Pension System, pension with payees under different guardians; and those covered by a Bilateral Social Security Agreement between the Philippines and other countries and the Portability Law.

Also, pensioners on suspended status due to non-compliance with the Annual Confirmation of Pensioners but are up for resumption from January to March will get the additional benefit on March 31, provided they have already reported to SSS for the resumption of their monthly pension.

Pensioners who availed of the advance 18 months retirement pension from August 2015 onwards will receive the additional P1,000 on May 12 to cover the remaining months starting January 2017.

Pensioners with settled initial disability, death and retirement claims from November 2016 to April 2017 as well as those who filed for adjustment in their pension can withdraw their P1,000 on May 12.

“Starting April, all regular pensioners, will receive the updated amount of their pension. This means that their regular monthly pension will automatically increase by P1,000,” Dooc said.000
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