State pension fund Government Service Insurance System (GSIS) will start releasing on December 6 more than P3.47 billion in Christmas cash gifts to its old-age and disability pensioners.
GSIS President and General Manager Wick Veloso said that GSIS old-age and disability pensioners who are receiving their regular monthly pensions and are living as of November 30 are qualified for the Christmas cash gift.
Not eligible for the Christmas cash gift are survivorship pensioners, dependent pensioners, pensioners under RA 7699 (Portability Law), and those receiving pro-rata pension.
New pensioners from 2019 to 2023 who availed of immediate pension and 18-month cash payment under Republic Act 8291 are also not yet entitled to receive the cash gift. They will start receiving their Christmas cash gift five years after their retirement date.
Retirees who have availed of five-year lump sum and who will resume their regularly monthly pension after December 31, 2023 are also not eligible for the benefit.
Likewise, GSIS members who were separated from government service from 2006 to 2023 before reaching 60 years old and who started receiving their regular monthly pension between 2019, 2020, 2021, 2022, and 2023 are not qualified. They will only receive the cash gift five years after regularly receiving their pension.*