The state-run Social Security System (SSS) said it will release on Friday P1.77 billion representing the second tranche of the additional P1,000 benefit of 218,000 pensioners who availed themselves of the 18-month advance pension, including those with death, disability and retirement (DDR) claims.
“We are glad to inform our pensioners who are scheduled to receive their P1,000 additional benefit on May 12 that they may already withdraw their pension from their respective banks starting on Friday,” said SSS President and CEO Emmanuel F. Dooc.
Of the total amount disbursed, P1.74 billion go through the banks, benefiting more than 211,000 pensioners, while the remaining P33.6 million are paid through checks for about 7,000 SSS member-pensioners.
According to the SSS, those who are included in the second tranche of release of additional benefit for special cases were retiree pensioners with 18 months retirement pension, and pensioners with initial DDR claims settled from November 2016 to April 2017.
Also included are those pensioners who filed for adjustment and those identified with partial disability with less than 12 months of pension.
The pension fund said pensioners who availed themselves of the advance three months pension due to Typhoons Lawin and Nina last year will receive their additional benefit on May 26.
About 13,000 pensioners with unpaid loans will not be able to receive the P1,000 additional benefit to offset their outstanding obligation.
Earlier in March the SSS released an estimated P2.1 billion from its funds in line with the payout of the last tranche of its retroactive P1,000 additional benefit for its pensioners for the month.
Of the total P2.1 billion, an estimated P7.82 million was received by regular pensioners in the form of checks that were delivered by the Postal Service Office to the concerned pensioners.
From January to March 2017 SSS has released more than P6.22 billion to its member-penisoners.
SSS said that pensioners under the special cases bracket will receive their P1,000 benefit increase on different dates, particularly on March 31, May 12 and 26.
In February this year President Duterte approved the P2,000 pension hike for SSS member pensioners, which would be done under two tranches, with P1,000 benefit per tranche, and that would benefit around two million pensioners in the country.