MANILA - Social Security System (SSS) will disburse funds amounting to P6.34 billion for the 13th month pensions of over 2 million SSS pensioners for retirement, disability and death.
SSS said the funds are scheduled for release to the pensioners' bank accounts and via mail this month.
SSS Vice President for Benefits Administration Division Agnes San Jose said that with the 13th month pension, SSS pensioners will receive double the amount of their regular monthly pension this month.
"The allotted funds for the 13th month pensions were already disbursed to SSS partner banks in November. As in previous years, SSS pensioners can expect to receive their 13th month pension at the same time as their regular December pensions," San Jose said.
SSS said over 99 percent of pensioners are enrolled in the Pension Payment through the Bank Program, which allows them to receive monthly pensions in their savings accounts.
Some 12,500 pensioners, on the other hand, opted to receive pension checks sent through the mail.
"Almost P6.31 billion for 13th month pensions are scheduled for release through pensioners' bank accounts. The remaining P34.61 million would be in the form of checks mailed to the designated addresses of the other pensioners," San Jose said.
The SSS provides pensions for retirement, death and disability under the Social Security (SS) Program, and for disability and death under the Employees' Compensation (EC) Program which offers additional benefits for work-related contingencies.
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