A whopping P3.2 billion has been set aside by the Government Service Insurance System (GSIS), the pension fund run by the state. It’s meant for Christmas cash gifts that will be distributed to pensioners from Dec. 1 onwards.
Recently, they published a board resolution stating that pensioners who got above P10,000 worth of gifts in 2020 would get a month’s worth of their current pension. The ceiling price of this incentive is set at P12,600.
Pensioners that got less than P10,000 last year would get a month’s worth of current pension capped at P10,000 maximum.
Circumstances are slightly different from pensioners that already got five years worth of pension upon retirement. If they receive regular monthly pension since the guaranteed five-year period lapsed in December of last year, they will get a cash gift worth a maximum of P10,000.
Disability and old-age/retirement pensioners are also entitled to the cash gift this year.
On the other hand, basic survivorship and dependent pensioners won’t get a cash gift. Recent retirees who left government service between 2017 and 2021 that availed of either cash payments worth 18 times their basic monthly salary (as stated under Republic Act No. 8291) or immediate life pension don’t qualify either.
For pensioners whose status are suspended due to noncompliance, the GSIS recommends they activate their status on or before April 30, 2022. This will allow them to get the 2021 Christmas cash gift.
The budget was approved by the GSIS board, currently chaired by former Supreme Court Chief Justice Lucas Bersamin, last October 26. The Christmas cash gift has been a GSIS tradition since 1974.