QUEZON CITY-- The state-run Social Security System on Thursday, March 16 said it has already released about P2.1 billion to its partner banks for the release of the last tranche of the retroactive P1,000 additional benefit for its pensioners for the month of March.
SSS President and Chief Executive Officer Emmanuel F. Dooc said qualified pensioners may already withdraw their additional benefit on today.
"Our pensioners may withdraw the March differential of the P1,000 additional pension from their respective banks. In fact, several of our partner banks have already credited the amount even earlier than the scheduled date," Dooc said.
"More than 2.1 million pensioners will benefit from the release of the additional benefit as part of the March differential. For the last scheduled release of the P1,000 differential for regular pensioners, an additional of more than 33,000 pensioners were added to our list from the previous month's 2.07 million pensioners," Dooc added.
Of the P2.1 billion set to be released on Friday, about P7.82 million will be received by the regular pensioners thru check which will be delivered by the Postal Service Office to the residence of the concerned pensioners.
According to SSS Office Services Department, the checks for the March differentials were mailed to Quezon City Central Office on Mar 9 and 10.
SSS has released more than P6.22 billion for the distribution of the P1,000 additional benefit for the January to March 2017 differential.
"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.
"However for our pensioners who fall under the special cases, please refer to the specific dates of release that we have announced last week," he added.
The SSS earlier enumerated the list of pensioners under special cases who will receive their P1,000 benefit increase on different dates, particularly on Mar 31, May 12 and 26.
Among the pensioners who will receive the P1,000 additional benefit on March 31 under the special cases are those with death claim with more than one payee and one of them is overpaid; payees with withheld share; 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.
Likewise, pensioners on suspended status due to non-compliance with the Annual Confirmation of Pensioners but are up for resumption from January to March are scheduled to receive the additional benefit on Mar 31, provided they have already reported to SSS for the resumption of their monthly pension.
Meanwhile, retiree-pensioners who availed of the advance 18 months retirement pension from August 2015 onwards will receive the P1,000 additional benefit on May 12 to cover the remaining months starting January 2017.
Pensioners with settled initial disability, death and retirement (DDR) claims from November 2016 to April 2017 as well as those who filed for adjustment in their pension will be able to withdraw their P1,000 additional benefit from their bank accounts on May 12.
Other types of pensioners scheduled to receive the additional benefit on May 12 are partial disability pensioners with less than 12 months duration paid in lump sum. The additional P1,000 per month benefit will cover the number of months they receive the disability pension starting January 2017.
For pensioners who availed of the three-month advance pension due to typhoon Lawin and Nina last year, they will be paid their pension differential on May 26.
Only about 13,000 pensioners with unpaid loans will not be able to receive the P1,000 additional benefit to offset any outstanding obligation.
Source: Philippines Information Agency